A high court judge in Spain, Santiago Pedraz, urged that the former Granada CF president face tax charges. The inquiry points to Quique Pina and the Italian businessman Gino Pozzo Linda as the individuals with the most influence over the club’s activities. The findings indicate Granada CF SAD stopped paying nearly 10 million euros to the Spanish Treasury, a result of financial maneuvers tied to player transfers. The investigation notes that the club sought funds from the Luxembourg-based Fifteen Securitization SA, connected to the Pozzo name, to acquire players that Granada never properly compensated.
The ruling identifies a series of transfers the court says were intended to defraud the Treasury. Players named include Guilherme Magdalena Siqueira, who moved from Benfica to Atletico Madrid for substantial sums; Daniel Pudil, who went to Watford; Allan Marques Loureiro, who joined SSC Napoli; Jeison Fabian Murillo, transferred to Inter Milan; Yacine Brahimi, reportedly valued at 6.5 to 9 million euros for a Porto deal; and Mikel Rico, whose move to Athletic Club was valued at over two million euros. The judge notes that these transactions might have benefited the defendants while harming public finances.
The investigation also highlights purchases from Udinese Calcio that appeared to be controlled by the Pozzo family. Granada CF SAD allegedly paid for these players but did not deliver compensation to the Italian club, instead financing the deals through the Luxembourg entity linked to Pozzo Linda.
“Without economic logic”
The core issue centers on five players whose ultimate destination was Udinese. Granada CF SAD bought their rights with the help of Fifteen Securitization and then sold them back to Udinese at the same price, with the securitization entity retaining a large portion of the value. The judge describes these actions as lacking sound economic rationale and as causing losses for the public treasury.
The court states that it makes little sense for Granada to involve a Luxembourg financing vehicle to back a group of Udinese players. After a Udinese transfer, the rights were moved to entities in the United Arab Emirates that pledged to place the players with a Spanish club next. Meanwhile, UAE-based firms entered into a contract with Granada to hold the federative and financial rights, and Asian partners later transferred these rights to the Luxembourg entity.
The judge concludes that no genuine financial outlay accompanied the operations since payments to Udinese never occurred through the UAE entities, and the joint account deals carried no transfer fee or bonus. For Granada CF, the case represents a lack of rational purpose for engaging in such joint arrangements with UAE entities, especially when the players involved originated from Udinese but were brought to Granada without proper transfer payments.
Related documents
Court records show files from the Pozzo group that outline the irregularities found in the order. A file labeled with dates in Italian traces how funds were routed through multiple accounts, illustrating a system described by the judge as lacking sporting or economic logic and as serving illicit economic aims at the expense of public funds.
The documents reveal changing roles, with Granada CF SAD often advancing funds expected from the supposed financiers on origin clubs. In the 2012-2013 to 2014-2015 periods, the club reportedly advanced more than eight million euros to the Luxembourg firm before receiving funds later.
Moreover, Granada negotiated the reacquisition of rights to eight players whose performance did not meet expectations, with contracts terminated. The club contended it did not need external financial aid in those cases and faced the possibility of reclaiming these players’ rights after paying a total of around 3.9 to 6 million euros. The court notes that Granada CF SAD ultimately bore the losses of these transactions.
19 players
Audit reports indicate Granada CF purchased 19 players from Fifteen Securitization through joint accounts. On September 30, 2015, a date when such fund arrangements were restricted, the club acquired the economic rights to eight players from Luxembourg, earning a profit that was recorded as tax-free in Spain.
The report also points out that two players, Mohammed Fatau and Wilson Cuero, were not yet evaluated when transferred to Granada CF SAD, suggesting Luxembourg could not contribute financially to those acquisitions. The review further notes that several players were moved without consideration at the start of the 2016-2017 season, resulting in a loss for the club.
When questioned, a club spokesperson claimed the events occurred before 2016, when the current owner took control of Granada CF, and reaffirmed the club’s intention to defend its position.
In response to inquiries, the accused argued that Quique Pina focused primarily on sports management, while Pedraz’s decision to pursue charges was challenged by the defense in higher courts. They also asserted that earlier charges of money laundering were halted and warned of potential challenges that could delay proceedings.