The Spanish Tax Agency has accused former Finance Minister Cristóbal Montoro of promoting tax reforms that benefited companies that had previously paid his consultancy firm, Equipo Económico. The investigation centers around the alleged influence Montoro exerted during his tenure as Minister of Finance, particularly through a network of connections between his former firm and government policy.
Montoro founded his consultancy firm, initially named Montoro y Asociados Asesores, in June 2006. By November 2007, the firm had shifted its focus to resemble a consultancy specializing in tax matters, leveraging Montoro’s expertise from his time in public administration.
The alleged influence network reached its peak in 2011 when Montoro became Minister of Finance. He reportedly built a team within the ministry’s leadership that is now under scrutiny for potential conflicts of interest and influence trading.
The judge overseeing the case is examining whether Montoro’s years as Finance Minister coincided with a significant increase in Equipo Económico’s revenue, which declined toward the end of the Popular Party’s government.
The investigation aims to determine whether, for over 15 years, connections between Equipo Económico and the Ministry of Finance may have led to legislation favoring major economic powers without considering the public interest.