At a major event in Madrid on April 6, far-right Alvise Pérez promoted the activities of the Madeira Invest Club, a supposed investment office that raises funds to speculate in the world of digital art and in sectors such as real estate, high-end or luxury vehicles, and on which the National Securities Market Commission (CNMV) issued an alert on May 22, 2023.
El Confidencial reported this Friday that the current ultra MEP had diverted his campaign donations to accounts with money obtained via Telegram for his formation, The Party is Over, to this financial beach bar. Madeira Club raises funds in Spain using a company from New Mexico, in the United States, as a front.
The activities of the Madeira Invest Club were promoted by the ultra agitator during the “3rd Annual Event” of this club, held on April 6 in the crowded Zarzuela racetrack in Madrid, among vintage cars, cocktails and grilled meats. The star guest was Alvise Pérez, who took the opportunity to promote his candidacy for the European elections of June 9 while praising the activity of the financial bar.
“I have never been so close to Moncloa without the National Police chasing me,” Pérez told a devoted audience. “Here you are carrying out a certain type of policy, which is the counter-policy of a mafia state, forgive me for saying it, criminal, which steals more than 70 to 75% of what you all produce.” “I call this modern slavery,” said the MEP, who appealed to “the freedom that these corrupt people fear so much.”
According to El Confidencial, the promotion of the event is not the only relationship that the MEP has with the controversial entity denounced by the CNMV. On May 25, the former candidate of Se Acabó la Fiesta asked his supporters for money through the social network Telegram to finance his campaign through cryptocurrencies in different blockchain networks and collected the equivalent of 6,180 euros. On July 25, part of this investment was transferred to another wallet and would end up feeding the funds of Madeira Club Invest.
The warning issued by the CNMV about this alleged investment club in May 2023 has also been extended to the company that appears to control it, a company domiciled in New Mexico (United States) called Proelucyon, LLC. As the stock market regulator had warned in May 2023, neither of these two entities “is authorized to carry out the activities reserved for collective investment undertakings” provided for by Spanish legislation.
Ferraris, apartments and whiskey
The main page of the Madeira Invest Club website states that it is currently “under maintenance”. “We are working on improving the platform and will be back in a few days,” the website promises. But you can still see some “digital works of art” that, according to it, its investors have participated in: luxury yachts, shipping containers, warehouses in Punta Cana, apartments in Chiclana, “Obra Parking VIP Bernabéu”, bottles of whisky, Ferraris, vintage motorcycles… The site belongs to a company registered in January 2022 in Orlando (Florida, United States), BLV Services LLC.
The Cryptospain portal is still fully operational, which presents Madeira as “a private club of buyers of digital works of art whose objective is to make money” despite “that gangster clan that is the CNMV”. They say they have obtained a return of “53.19%” with the purchase of a building in the center of Granada in 2023. “It’s a hell of a return. And we have had other works with similar profitability,” they say.
As they explain, “if a company with a ‘normal’ performance generates a profit of, say, 20%, Madeira Invest Club can increase it to 30% or 33%. It’s not like we’ve discovered the secret to turning what we earn into gold and we’re much better than everyone else. It’s just that we DON’T pay that much tax because the law allows us not to pay it.
Their visible heads appear on the Cryptospain website, a YouTuber who says his name is “Luis” (still nameless, bald and wearing a mask, and who played a leading role in the event at the Hipódromo de la Zarzuela with Alvise Pérez) and another such “Borja”.
They both star on a YouTube channel that hasn’t posted videos for a few months now. Cryptospain has been promoting itself for years with ads, social media posts, and courses to “protect our money” from “a state that deceives us,” as Maldita said in 2022.
Among the services offered by Cryptospain is Sentinel BQ, whose logo appeared in large letters at the event that the current far-right MP attended on April 6 to promote the Madeira Invest Club.
Sentinel BQ explains on its website that its “main objective is to protect what belongs to you without anyone knowing what it is”, “that is, with complete anonymity” and “in compliance with the law”. It claims to offer its services on Maldonado Street in Madrid, although the owner of its website is BLV Services, the aforementioned Florida company that owns the Madeira Invest Club website. “Any relationship between the user and BLV will be governed by and interpreted in accordance with US law”, the Sentinel BQ website states. Its motto is a declaration of intent: “The security of anonymity at your disposal for your money”.
They present it as “the only space in Europe with more than 5,000 level 7 fortified lockers, available for rent without any type of identification, always in compliance with the law, allowing the storage of documents, money, jewelry, watches, gold, USB… with four guarantees that no other space can offer you”: “24-hour military protection”, “1 billion euro camera insurance”, “Access without KYC”, abbreviation in English for “Know your customer”. And the goods are “not seizable, since they do not allow you to be identified”. Sources consulted by eldiario.es point out that the monthly rent for each safe is around 500 euros.
On its website, Cryptospain bills itself as “Europe’s largest tax avoidance, crypto and corporate community.” It states that they offer “Crypto training and corporate tax avoidance.” “Discover the system to pay less tax within the law. Legal, safe and fair.”
The owner of the Cryptospain website is the American company that the CNMV warned against in May 2023, Proelucyon. This company was registered in March 2022 in Alburquerque, New Mexico, by Domingo Romillo, who also created another company shortly after at the same address with Álvaro Romillo.
In the Spanish commercial register there is a software company in Madrid, Linnce Software, linked to two directors with the same names.
Proelucyon presents itself on the Internet as a “crypto legal consultancy” based in Albuquerque. On its website, it offers advice via videoconference (starting at 100 euros per half hour), with services for cryptocurrency investors for the “Renta 2021” campaign, a concept that clearly refers to the Spanish income tax. “Have you received a letter from the Treasury asking you about your cryptocurrencies? We help you.”
“9,600 companies”
Cryptospain claims on its website that it is “the largest tax community in Spain”, with 512,000 users, and that it has “saved” the sum of “524” million euros for its “community”. “9,600 companies trust us.” They also claim to have processed more than “805” tax residences. “You work all year to pay the taxes that the State steals from you,” they say.
“How is this possible? Because you are not buying cryptocurrencies (or cash) directly from Sentinel BQ, but rather an individual has already made this deposit. Thus, the limits between companies and individuals of €1,000 per transaction and the obligation to pass KYC do not exist. On the Sentinel side, only the transaction fee of 7.99% is charged, for which you will receive a simplified invoice for each transaction.
“Find out how to pay less tax in a limited company or how to create a company without income for the State. Stop them from taking away what you have worked so hard to earn. Change your tax activity starting today,” they add. They state that “most Treasury inspectors do not know what a BTC, an NFT, Numismatics or a wallet is. Don’t let this happen to you, like them, Cryptospain is IDEAL for them” [sic].
Madeira Invest Club launched on the Internet, where suspicions about its viability are also growing. Internet users who claim to manipulate sensitive information have been wondering for more than a year on Forocoches whether it is not a “ponzi in sight”. One user said that in August 2023 he met “someone who is present and happy so far”. “So don’t cry and let all of us Spaniards pay for the party,” another member of the forum told him.
Well-known on the networks in the field of cryptocurrency investment, the tax law firm Viola Pérez warned against Luis Cryptospain’s advice in 2022: “You are risking too much. There is a very, very thin line between tax evasion and tax evasion.” [la que no vulnera la ley] and tax evasion [que siempre implica un delito]”.
One of his proposals, to create companies abroad, “of course it is legal”, but its existence must be notified to the Spanish tax authorities. And if straw men are used “so that the Treasury does not know, we are already in tax evasion”. “The line is very dangerous.” “Be very careful with gurus.”
