The former centre-right minister of finance in Spain, Cristóbal Montoro, has been put under investigation for alleged influence peddling and use of privileged information for the benefit of private clients during his tenure.
Montoro, a prominent figure in the centre-right Popular Party (PP), allegedly leveraged his position to benefit certain energy firms, particularly in the gas sector but also in the electricity and renewable sectors, it was disclosed on July 16.
This reportedly was done through a system of alleged influence-peddling where companies paid Equipo Económico (EE), his former law firm, to obtain favourable legislative reforms or tax reductions.
These allegations came to light during a legal investigation, resulting in Montoro being formally charged in Spain’s legal system via a preliminary accusation awaiting further judicial proceedings
Montoro resigned as a member of his political party after the indictment.
As well as Montoro the probe involved 27 other people also under investigation. The former minister was the only person connected to the PP.
Companies involved in the alleged corruption reportedly paid at least around €11 million to the office of the former minister between 2008 and 2015, Spanish newspaper El Pais reported, based on reports of the Mossos d’Esquadra, the autonomous Catalan police force.
The investigators concluded: “Equipo Económico would have charged large amounts of money in commissions for its ability to influence the decisions of the executive and legislative powers” during the period of Mariano Rajoy’s government. The office was said to be “a mere vehicle to access the Ministry of Finance.”
The investigation began in 2017 and had remained classified until July 16.
It centred on the activities of the law firm established in 2006 by the former minister. Originally named Montoro y Asociados, the firm was renamed Equipo Económico after the founder joined Mariano Rajoy’s centre-right government and management was transferred to Cristóbal ‘s brother, Ricardo.
Montoro reportedly also appointed people closely linked to the EE firm among his senior ministerial positions.
There had been issues around the ministry’s closeness to the consulting firm to the point that some senior officials vetoed the entry of the firm’s partners into their departments to avoid possible conflicts of interest.
PP ministers warned then-prime minister Mariano Rajoy during his term of office about possible manipulation. The party’s José Manuel Soria even left his post as industry minister when he told Rajoy that Montoro was in his opinion slowing down his attempt to reduce subsidies for renewable energy companies in line with the interests of a firm that had hired Equipo Económico.
Montoro has always denied any alleged collusion with Equipo Económico.
He said it was “absolutely anomalous” that the judicial investigation with secret summary had lasted seven years after “waiting” for his departure from the ministry in 2018 to start it.
He further noted that, in his words, the secrecy of the proceedings had been lifted with the order that indicated him as investigated, “all coinciding with the current context of real scandals of the Government of Spain”.
PODCAST: "Corruption is everywhere!"@ThatAlexWoman and @JustinStares are joined by Spanish MEP @HermannTertsch to talk about the prostitution scandal that has hit Spain’s ruling coalition. https://t.co/e5kN9IuuI8
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Equipo Económico issued an official statement on July 17 in which it “categorically denies having belonged to any organisation or plot aimed at obtaining legislative modifications favourable to the companies”.
The firm expressed frustration over being “kept in the dark” for seven years due to what it termed procedural secrecy and not being allowed to defend itself despite repeated requests since October 2023.
It affirmed its availability to clarify any accusations to the competent court and noted that a past procedure, initiated by the same prosecutor and later sanctioned for what were called excesses, was dismissed due to lack of evidence.
Equipo Económico said it reserved the right to take any legal actions it deemed necessary in defence of its good name and professional prestige of both the firm and its employees.
The allegations of corruption and influence peddling came at a time when the Socialist-led government has been regularly attacked over serious allegations of corruption.
In reaction to the new alleged scandal, the leader of the PP, Alberto Núñez Feijóo, said he would never talk about how judges or the “pseudo media” were after them, unlike Socialist Prime Minister Pedro Sánchez, who he said did attack both the justice system and certain journalists.
“My opinion on corruption is very clear and does not change regardless of who it affects,” Feijóo tweeted on July 18. “Whatever needs to be investigated, let it be investigated.”
Spanish Prime Minister Pedro Sánchez told the parliament during a heated extraordinary plenary session he was not planning to resign over the corruption scandals haunting his government. https://t.co/4Ae50TxyiB
— Brussels Signal (@brusselssignal) July 10, 2025
Spanish Socialists appeared pleased that the focus had shifted from their own alleged scandals. Vice President and current finance minister in the Socialist-led government María Jesús Montero described the investigation as “very serious”.
She said it was up to the leadership of the PP “to account for what has happened and what is happening in the courts with so many high officials”.
“One more minister, of all those we have already known from the [PP] governments of José María Aznar, who have to respond in the courts,” Montero said.
Transport minister Óscar Puente asked if Montoro would also need to be held in detention, to prevent him of destroying alleged evidence, alluding to the Santos Cerdán case.
Health minister Mónica García threw a slogan of the PP back into the party’s face, saying: “Laws in exchange for bribes. Mafia or democracy?”
Vox, the right-wing opposition, put both parties in the same basket, accusing both of being allegedly corrupt.
“The reality is that of all the misdeeds of Sánchez and his mafia, fiscal policy is simply an inheritance from the PP,” Vox posted.
“And they probably also copied some of their practices, which were just as mafia-like as the ones now”, the party alleged on its X account.
New details have emerged in a corruption scandal involving individuals linked to Spain’s Socialist Party, with authorities suspecting they siphoned millions of euros in public funds. https://t.co/Bhfl1Hdo8f
— Brussels Signal (@brusselssignal) June 30, 2025
