• Wed. May 29th, 2024

Andorra keeps over 100 million euros confiscated from lawyer of Peña Nieto, Juan Collado

Byeditor

Mar 27, 2024

Juan Ramón Collado, a renowned lawyer who has represented powerful Mexicans, including former president Enrique Peña Nieto, has had over 100 million euros seized in Andorra since 2015. Confidential reports obtained by EL PAÍS reveal a complex network of accounts in Andorra, with branches in Holland, Panama, and Hong Kong, used to conceal his fortune.

Collado, 60, utilized a complicated scheme involving Banca Privada d’Andorra and Crèdit Andorrà to move his funds. Investigators suspect that the money may have belonged to Mexican political leaders. Collado had at least two accounts in Andorra with nearly 19 million euros in 2023, managing the rest through Dutch companies to shield his identity.

The lawyer invested over half of his assets in Andorra in variable income funds and shares of prominent companies. Simultaneously, the Andorran justice system targeted Collado’s associates, including his alleged frontman Jaime Jesús Sánchez Montemayor, who managed the financial aspects of Collado’s operations.

Collado’s lawyer in Andorra maintains that his client’s assets are legitimate and plans to challenge the money laundering investigation. The investigation also extends to Collado’s family members and associates, with suspicions of additional companies being used in the money laundering scheme.

Collado’s fortune in Andorra suffered setbacks in 2018, but his arrest in Mexico City in 2019 led to the reopening of the case. The investigation revealed extravagant expenses by Collado, including private aircraft purchases and luxury property acquisitions. Judicial proceedings in Mexico have also implicated Collado in money laundering cases.

Despite his high-profile clients, Collado’s legal troubles have tarnished his reputation in both Mexico and Andorra. The ongoing investigations shed light on the intricate financial operations of a man once considered the lawyer of the Mexican elite.

By editor

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