At least four years ago the Spanish government knew that Nueva Rumasa had problems with the Treasury, but far from making repairs, the government allowed debt issues of nearly 400 million euros spread out among 4,100 investors. Although the payments were spread out in 2008 (irregularities were detected in the VAT, IRPF, Social Security quotas, the Economic Activity Tax, property taxes and even the waste collection tax) nothing was done to a debt issue just several months later. The Agencia Tributaria, Spain's major taxation regulator, gave Ruiz-Mateos the green light to postpone payments and the CNMV merely asked investors to be prudent.
Although still held by the courts, elEconomista has been able to access Nueva Rumasa's internal correspondence, accounting books, letters and other documents that form key evidence for the case. The evidence now shows that the Ruiz-Mateos family resorted to financial tricks to skirt their tax obligations and continue earning money from market activity.
For example, an email sent in April 2010 to various directors from holding by the director of the group's Internal Auditing department, José Manuel Álvarez, offers proof. Zoilo and Álvaro Ruiz-Mateos were copied on the email. The first point of the email leaves no room for doubt. "Until the end of 2008 the IRPF and VAT were not declared conventionally, and this could have consequences on a future audit." Just several months later, in February of 2009, the first debt was issued.
A major group gets publicized and tricks covered up in order to not meet tax obligations. "A service invoice for the closing of QM was created to avoid paying taxes. The VAT on that invoice should be reimbursed to QM and the invoice has to be dressed up with official goods and services," recommended the auditor in 2010.