Safe of Former Spanish President Zapatero Found with Jewelry Worth 1.3 Million Euros

A safe discovered in the office of former Spanish Prime Minister José Luis Rodríguez Zapatero was found to contain nearly eighty pieces of jewelry, valued at a total of 1,323,915 euros. This valuation was conducted by the historic jeweler Ansorena in conjunction with the Spanish Gemological Institute on June 8 and 9, following a directive from Judge José Luis Calama of the National Court.

The search of Zapatero's office, located on Ferraz Street in Madrid, was carried out on May 19 as part of the so-called Plus Ultra case. During this operation, officers from the Economic and Fiscal Crime Unit (UDEF) of the National Police opened the safe in his office and documented the items with photographs.

The most valuable item is an 18-carat white gold necklace adorned with two natural emeralds from Zambia and diamonds, appraised at 278,000 euros. Another significant piece is a white gold necklace featuring thirteen sapphires from Thailand and diamonds arranged in a "delicate openwork vegetal design," valued at 220,000 euros, according to Ansorena's report.

Additional notable items include a diamond necklace with five cascading rubies appraised at 155,000 euros, a white gold bracelet with three emeralds and diamonds worth 95,000 euros, and a cocktail ring with a central Zambian emerald and diamonds, valued at 85,000 euros. Also in the collection are long gold and emerald earrings, sapphire and diamond earrings, and a third set with rubies, valued at 80,000, 70,000, and 60,000 euros, respectively.

Among the less expensive pieces are a green aventurine necklace valued at 4,000 euros, a silver cross of the Sagrada Familia appraised at 50 euros, and imitation pearls with no commercial value. The collection also includes watches from brands like Omega, Longines, and Pierre Balmain, with prices ranging from 50 to 6,000 euros.

The Spanish Gemological Institute confirmed in its report that several pieces contained "rubies," "sapphires compatible with deposits in Thailand," and "emeralds compatible with deposits in Zambia."

The discovery prompted Judge Calama to expand his investigation, opening a separate case to investigate Zapatero for potential tax and smuggling offenses, given that the value of the jewelry significantly exceeds the 120,000-euro threshold that can trigger a tax offense in Spain.

Zapatero's spokesperson, Luis Arroyo—who is also the president of the Ateneo de Madrid—explained that the jewelry consisted of inheritances from Zapatero's mother and mother-in-law, as well as gifts, stored in the office because they lived in a rented house without a safe. Arroyo later apologized for initially estimating the pieces' value at between 30,000 and 50,000 euros, a figure much lower than the judicial appraisal.

The Plus Ultra case, under which the search was conducted, investigates an alleged irregular rescue of 53 million euros granted in 2021 by the State Industrial Participation Society (SEPI) to the airline Plus Ultra, which has significant Venezuelan ownership.

Judge Calama positions Zapatero at the "apex" of an alleged influence-peddling scheme in favor of the airline, supposedly in exchange for economic benefits channeled to him and his associates. On May 19, the National Court charged Zapatero with criminal organization, influence peddling, and document forgery, marking him as the first former president of Spanish democracy to be indicted for corruption.

Zapatero is scheduled to appear before the National Court on June 17 and 18 to testify about the jewelry and other charges against him.