Alejandro Betancourt, the main figure of Derwick Associates. (Photo Courtesy)
The Economic and Tax Crime Unit (UDEF) of the Spanish National Police conducted several searches on Tuesday at properties linked to Venezuelan businessman Alejandro Betancourt as part of an investigation led by National Court Judge Santiago Pedraz. The operation follows an international request from Switzerland, which has sought Spanish judicial assistance to clarify potential money laundering activities.
Betancourt, founder and partner of the Derwick group (known as bolichicos), is under investigation for his alleged involvement in opaque financial structures that might have channeled irregular funds to Europe. Judge Pedraz authorized the UDEF to search several properties connected to him amidst a broader operation that also targets former deputy minister Nervis Villalobos. Reports indicate that the investigation may include other Venezuelans, such as Francisco Convit Guruceaga, Luis Carlo León, Pedro Trebau , and Raúl Gorrín.
Among the inspected properties is the Castle of El Alamín, located in the province of Toledo, a prominent estate that has previously been owned by other businessmen entangled in legal issues. This property, once acquired by Betancourt, has now become a focal point of the investigation, as authorities suspect it served as a vehicle for investment and asset concealment.
In addition to the castle, searches were conducted at other urban properties, offices, and companies directly or indirectly associated with the businessman. The Police aim to locate documents, electronic devices, and financial evidence that could help trace the movement of money and determine if Betancourt was involved in money laundering operations coordinated from Switzerland.
This Spanish operation is not occurring in isolation. Swiss judicial authorities have detected suspicious banking activities linked to Betancourt and formally requested intervention from the National Court. Judge Pedraz quickly responded, assigning the UDEF to execute the search and entry orders, coordinating with the Anti-Corruption Prosecutor’s Office.
The operation highlights that European authorities are scrutinizing a transnational financial circuit involving Venezuelan businessmen, investments in Spain, and accounts in Switzerland. Although the investigation is in its early stages, the ongoing procedures suggest that Betancourt may have transferred large sums of money through complex corporate structures, making it hard to track the origin of the funds.
Following the searches, the Police must prepare a report with the seized materials to be submitted to Judge Pedraz. He will then decide whether to expand the charges, call Betancourt to testify as an investigated party, or maintain the proceedings within the realm of international cooperation with Switzerland.