Borja Thyssen and Blanca Cuesta face three years in prison for tax fraud

Valentine’s Day has a bitter aftertaste for Borja Thyssen and his wife Blanca Cuesta, since both are summoned in the Criminal Court number 15 of Madrid, where they face three years in prison and a fine of one million euros for allegedly having defrauded the Treasury of just over 336,000 euros in 2010.

The couple declared a capital gain of more than 2.2 million euros from the sale of some social shares when, according to the prosecutor, the profit obtained was almost 3.7 million. A transaction that involved the sale of a luxury villa in Ibiza.

The couple allegedly pretended that part of the transaction corresponded to a company that was actually inactive “thus hiding the amount of 1,586,037.39 euros from the Public Treasury”, which is why they would have stopped paying taxes of 336,417 euros.

The prosecutor’s indictment explains that on February 26, 2010, the transfer of the shares of Cas Capetó SL took place through three deeds of sale granted to each of the three shareholders of the company. Cas Capetó SL had as its main asset a house in Ibiza that did not have any hired staff or any other type of economic activity.

Its holders were Borja Thyssen, 50%; Blanca Cuesta, 40%; and the Caribean Breeze company, with the remaining 10%. The price paid for this operation was 9.7 million euros, which were paid into an account in the name of the son of Baroness Thyssen.

In 2010, the couple filed the declaration of the joint challenge and declared that the sale had provided them with a benefit of more than 2.2 million euros, supposedly leaving 1.6 million out of tax control.

inactive company

A concealment that would have been made, in the opinion of the Treasury, with the sale of the shares of Caribean Breeze SL, which, according to the Prosecutor’s Office, is an “inactive company”.

This company had been filed by Borja and his wife when they acquired the shares of Cas Capetó SL in 2005. An operation that, according to the Public Ministry, was a “simulated legal business, the real business wanted by the parties being the acquisition by Borja Thyssen of 57 percent of this business and by Blanca of the remaining 43 percent.

This is not the first time that the Baroness’s son has to face a trial for problems with the Treasury. Already in December 2019 he was acquitted of another alleged crime of tax fraud. Then they asked him for three years and four months in prison for a crime against the Public Treasury for not paying 592,557 in 2007. Borja was acquitted after it could not be shown that during that year he had been a resident in Spain, that is, it could not be determine that he had spent in the country more than 183 days a year.