TWO Spanish construction company directors are facing serious fraud and money laundering charges in Gibraltar following an investigation into alleged tax evasion worth over £370,000.
Both David Nevado Luna from Estepona and Francisco Cuadrado Gonzalez from Casares, who are the directors of Gibraltar-registered Victoria Construction Ltd, are set to appear before Gibraltar’s Magistrates’ Court tomorrow in what prosecutors describe as a complex tax fraud case.
The charges follow an extensive probe by the Royal Gibraltar Police’s Economic Crime Unit, which alleges the pair significantly under-declared both personal and corporate tax liabilities.
Gonzalez faces the more serious charges, with four counts of fraud by false representation related to personal tax declarations, alongside allegations of possessing criminal property worth £120,012.28 – funds allegedly obtained through tax evasion.
His business partner Luna faces two counts of fraud and is accused of possessing £77,223.79 in criminal property, also allegedly gained through tax fraud.
Their company, Victoria Construction Ltd, has also been summoned to court to face false accounting charges.
Court documents reveal the firm allegedly submitted dishonest corporate tax returns, with investigators highlighting suspicious declarations for 2018/19 and 2019/20.
The company reportedly claimed a turnover of £385,050 against expenses of £428,713 for 2018/19, followed by £364,800 in turnover and £358,151 in expenses the following year.
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The firm itself faces additional charges related to the possession of criminal property amounting to £173,574.25.
The case, which began with arrests in February 2024, marks one of the largest corporate tax fraud investigations in Gibraltar’s recent history.
Both directors will appear in court at 10am tomorrow, both in their personal capacity and as representatives of Victoria Construction Ltd.
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