Since March final 12 months, German property developer Matthias Kühn has been beneath investigation by a Palma court docket for money owed owed to the Tax Agency. He is suspected of getting used a collection of chapter proceedings as a manoeuvre to keep away from the gathering of those money owed.
The quantity owed was initially put at eleven million euros. This subsequently elevated to 25 million, a cause why the court docket of instruction for the case imposed a bond of €33 million on Kühn; that is being appealed earlier than the Provincial Court.
The Tax Agency now desires to observe the path of Kühn’s cash in tax havens. The State Attorney’s Office, representing the company, has requested the court docket to prolong the investigation to a tax agency in Liechtenstein. This is the second time that the company has requested a broadening of the investigation to advisors and monetary providers that Kühn employed.
The administration claims that alleged shell corporations utilized by Kühn had been situated in Liechtenstein, a tax haven, and managed by those that have been now named in court docket papers.
The suspicion is that these corporations acquired the belongings of Kühn’s corporations in Spain via simulated transactions. Although these corporations had been nominally outdoors the German group, they had been truly beneath his management and hid a big portion of his actual belongings. The Prosecutor’s Office maintains that there’s proof of misappropriation of belongings, felony insolvency, and procedural fraud within the case.
Matthias Kühn, his two sons, and others are because of seem in court docket on the finish of October. One one that has not but been summoned to testify is his spouse, Norma Duval. She was listed within the Prosecutor’s Office’s preliminary report as having benefited from her husband’s alleged crimes, however she is just not attributed with having had any direct involvement.
Also in March 2024, the Balearic Government was ordered to pay 96 million euros’ compensation to Kühn in respect of an historic reclassification of land in Puerto Soller – Muleta II – that prevented the constructing of luxurious properties. This cash is presently being held by the Balearic High Court.
