The Venezuelan businessman, Leonardo Rafael Montbrun Álvarez, is facing accusations in the United States for money laundering, bank fraud, and cybercrimes, as well as for materially supporting the Tren de Aragua—an international terrorist organization. Additionally, he has been charged in Spain for fraud and money laundering.
Although the complaint does not mention the Tren de Aragua, Salvador Pimentel Roja has reported to the Spanish Attorney General that the financial platform Shasta Technologies and the National Bank of Credit (BNC) operated unlawfully to facilitate money laundering and to carry out various scams through international transfers without proper bank oversight.
The report specifies that executives, Álex Sicart, Leonardo Rafael Montbrun Álvarez, and Daniel Paloma—the developers of the Shasta application—lead a structure that allegedly deceived savers in Venezuela and Europe by posing as a legitimate financial technology entity.
The Complaint to the Spanish Attorney General
Without mentioning the Tren de Aragua, Salvador Jesús Pimentel Roja filed a complaint on January 11, 2022, with the Spanish Attorney General against Shasta Technologies S.L., its executives, and the National Bank of Credit (BNC) of Venezuela for the alleged commission of serious economic crimes, including fraud, money laundering, and other fraudulent activities.
The complaint accuses Shasta Technologies S.L.—to be presented as an innovative fintech application for international payments—of systematically operating outside the banking regulations of Spain and Venezuela. It states that the platform allegedly served as an instrument for moving funds without compliance controls, facilitating corruption and money laundering under the guise of a strategic partnership with established banking institutions. This situation culminated in massive claims for lost funds and the detention of one of its key developers.
The implicated parties in this alleged scheme include: Key Entities and Actors
ActorRole / DescriptionSalvador Jesús Pimentel RojaWhistleblower and affected party.Shasta Technologies S.L.Spanish company registered in Barcelona (CIF# B67394254), developer of the Shasta application.Leonardo Montbrun ÁlvarezExecutive of Shasta, identified as a key driver of the scheme.Álex SicartShasta developer; currently facing charges in Venezuela and reportedly detained in Caracas.Daniel PalomaDeveloper and executive of Shasta linked to the operations.Banco Nacional de Crédito (BNC)Venezuelan banking institution acting as a “collaborator” and regular channel for the application’s operations.Easy Payment and Finance EP S.A. / Pecunia CardsEntities with licenses in Spain used by Shasta to simulate operational legality.
Operational and Regulatory Irregularities
The complaint argues that Shasta was specifically designed to “bypass banking controls.” Although it was promoted as a tool for financial inclusion and dollarization, its operation was based on a lack of necessary licenses.
Absence of Direct Licenses
Shasta did not appear in the Banco de España’s registry of entities. To operate, it made agreements with entities that did possess licenses—Easy Payment and Pecunia Cards—even though these entities lacked the legal capacity to carry out the international operations that Shasta executed.
Simulation of Legality in Venezuela
While a supposed approval from SUDEBAN was announced in June 2020, the complaint states that there are no verified records in the Official Gazettes. Shasta operated for over two years without the necessary continental operational permits.
Role of the National Bank of Credit (BNC)
The BNC is identified as a critical actor that provided “apparent solidity” to the platform to attract savers and investors.
Misuse of Custody Accounts: “Custody Accounts” were meant for depositing currencies without allowing transfers to third parties or abroad. However, Shasta and BNC allowed these accounts to receive and remit currencies to any beneficiary, exceeding the legal limits of their jurisdiction.
Strategic Alliance: News articles from February 2021 highlight the alliance as a milestone for facilitating operations between Venezuela and Europe, allowing the linking of BNC accounts in the app to mobilize funds through QR codes or SEPA/SWIFT transfers.
Mechanism for Money Laundering and Fraud
The lack of compliance controls turned the application into an ideal environment for illicit activities:
Platform for Crime: The ability to send money without limits, without controls, and with an operational cost of 3% allowed directing deposits from Venezuela to multiple accounts in Europe, facilitating the legitimization of capital from corruption and drug trafficking.
Deceit Against Investors: Willful omission of obligations and fraud in contract conditions. Following the cessation of Shasta’s operations, numerous investors reported capital loss with no response from Montbrun or Paloma.
Request to the Spanish Authorities
The complainant, Salvador Pimentel Roja, characterizes the operation as a “transnational criminal organization” and seeks immediate legal actions based on the following points:
Banking Complicity: Shasta would not have achieved its criminal goals without the complicity of the involved banks, which provided the guarantees and operational capacity for the deposits.
Failure to Fulfill Duties: Both conventional banking and fintechs are obligated to be diligent and strict in applying controls, a responsibility neglected by BNC and Shasta.
Therefore, the complainant requested a formal investigation of the executives, determining the relationship between them and the BNC, along with the freezing of assets involved to repatriate funds and compensate the scam victims.
Extension of the Complaint
On March 26, 2022, Salvador Jesús Pimentel Roja extended his complaint to the National Court and Court #38 in Madrid, detailing an alleged financial scheme operated through Shasta Technologies S.L. and the National Bank of Credit (BNC) in Venezuela, presumably facilitating both the scamming of legitimate savers and the legitimization of capital from illicit activities.
The complaint states that the platform allowed for the entry of monetary flows into the Spanish financial system through Easy Payment & Finance E.P. and evaded international “Know Your Customer” (KYC) protocols and the recommendations from the Financial Action Task Force (FATF).
Meanwhile, a group of users used the tool for the legal repatriation of capital—only to be scammed out of their funds later—while another sector allegedly exploited the anonymity of cash deposits to launder money of dubious origin in Spain.
Technical Route of the Money
The complaint identifies a structured money route for bringing Venezuelan capital into the Spanish banking system, using mandatory intermediaries and specific accounts.
Reception in Venezuela: Money (dollars, bolivares, or euros) entered through the National Bank of Credit (BNC) via their “Agreement Accounts 1” or “Custody Accounts.”
Fintech Intermediation: The SHASTA application acted as the transfer manager from the BNC.
Bridge in Spain: Funds were sent to Easy Payment & Finance S.L.
Final Destination: Deposited into chosen Spanish bank accounts.
Identified Transactional Limits
According to the analyzed technical data, the scheme permitted the following operational volumes:
Registered User: Up to USD 1,500,000 per day.
Unregistered User: Up to USD 150,000 per day.
Illegal Operation: Identified as having an “UNLIMITED” range via cash deposits.
The complaint clearly differentiates between two operating methods of the application, dividing users into two affected or implicated groups.
Model A: Repatriation of savings (legit fraud)
Process: The client has an account at the BNC, meets saver requirements, and identifies the origin of their funds. They order the transfer to their own account in Spain.
Status: Users under this model are considered victims of fraud since, despite identifying the capital and meeting regulations, the money was not received in the destination accounts in Spain.
Model B: Legitimization of capital (illegal)
Process: Cash was delivered at Shasta’s offices or BNC branches without the client needing a prior bank account.
Irregularities: Violation of client identification obligations (Compliance and FATF Recommendation #10); anonymity of the sender and unknown traceability; funds directed to any account in Spain, regardless of ownership; costs and delays: collection of a 3% commission with completion timings between 3 hours and 5 days.
Risks: This model is identified as a potential bridge for corruption payments, drug trafficking, and terrorism financing.
Regulatory Noncompliance and Lack of Supervision
In the extension of the complaint, Pimentel Roja indicates that both SHASTA and BNC operated outside of regulatory bodies and international protocols.
• Evasion of Controls: Operations were presumably conducted behind the backs of SUDEBAN (Venezuela) and the Banco de España.
• International Violations: non-compliance with: United Nations Convention against Corruption (Arts. 14.2 and 23); FATF Recommendations #10 (Know Your Customer), #14 and #20; Law 10/2010 on the Prevention of Money Laundering (Spain); International Convention for the Suppression of the Financing of Terrorism (Art. 18).
Impacted Entities and Individuals
The complaint seeks direct legal action against those responsible for managing and developing the platform and the allied banking entity.
Individuals
Jorge Nogueroles: President of the National Bank of Credit (BNC).
Leonardo Montbrun Álvarez: Shareholder/developer of Shasta Technologies.
Álex Sicart Ramos: Shareholder/developer of Shasta Technologies.
Daniel Paloma Freire: Shareholder/developer of Shasta Technologies.
Legal Entities
Shasta Technologies S.L. (Spain).
National Bank of Credit – BNC (Venezuela).
Easy Payment & Finance S.L. (Spain).
Record of Linked Bank Accounts (BNC)
The complaint provides specific account numbers used at the BNC to channel the reported transfers:
Account HolderAccount NumberSHASTA0191-0001-49-2101173131SHASTA0191-0001-41-2101174357SHASTA0191-0001-42-2301020899SHASTA0191-0001-49-2301020906SHASTA0191-0001-48-2301022731SHASTA0191-0001-46-2301022746SHASTA0191-0001-49-2401004461SHASTA0191-0001-41-2401004474SHASTA0191-0001-45-2401005161SHASTA0191-0001-43-2401005176SHASTA0191-0095-21-1995000039LEONARDO MONTBRUN A.0191-0001-40-2101173346LEONARDO MONTBRUN A.0191-0001-46-2301021080LEONARDO MONTBRUN A.0191-0001-48-2401004579LEONARDO MONTBRUN A.0191-0001-44-2401224584ALEX SICART RAMOS0191-0001-46-2101173351ALEX SICART RAMOS0191-0001-40-2301021075ALEX SICART RAMOS0191-0001-40-2301021061ALEX SICART RAMOS0191-0001-46-2401004552ALEX SICART RAMOS0191-0001-41-2401004563
Legal Request
Salvador Jesús Pimentel Roja requested the following measures from the Spanish authorities:
Asset Freezing: applied to the BNC, its president Jorge Nogueroles, Shasta Technologies S.L., and its shareholders (Montbrun, Paloma, Sicart), including any relatives whose funds are not justified.
Criminal Charges: against the BNC and its management for being the exclusive providers of service in Venezuela and liable for the traceability of the money.
Investigation of Accounts and Recipients: track all transfers made to identify unknown beneficiaries and confirm violations of FATF regulations, Banco de España, and SUDEBAN.
International Cooperation: inclusion of evidence presented also to the Prosecutor’s Office of Venezuela.