Andorra retains over 100 million euros confiscated from lawyer of Peña Nieto, Juan Collado

Juan Ramón Collado, a prominent lawyer known for his representation of influential Mexicans, has had more than 100 million euros seized in Andorra since 2015. According to confidential reports obtained by EL PAÍS, Collado used a complex network of accounts spanning Andorra, Holland, Panama, and Hong Kong to move his fortune.

The reports reveal that the lawyer, 60 years old, utilized a sophisticated system involving accounts at Banca Privada d’Andorra and Crèdit Andorrà to conceal funds that may have belonged to Mexican political leaders. He had at least two accounts in Andorra with a combined total of 18.9 million euros and managed the rest of his assets through Dutch instrumental companies as a way to protect his identity.

Collado invested more than half of his assets in Andorra in variable income funds and shares of companies like Volkswagen and Apple. His close associate, Jaime Jesús Sánchez Montemayor, has been indicted for money laundering in connection with Collado’s finances.

Despite maintaining that his assets are justified, Collado’s funds remain frozen in Andorra as the investigation continues. The Andorran justice system is focusing on Collado’s family environment, including his sister and brother-in-law, as part of the ongoing probe. The lawyer’s opulent lifestyle has also come under scrutiny.

Collado’s legal troubles extend beyond Andorra, with investigations in Mexico uncovering alleged money laundering activities linked to him. His arrest in Mexico City for money laundering led to the reopening of the case in Andorra and the seizure of his funds. Collado’s connections to powerful figures in Mexico such as former president Enrique Peña Nieto and businessman Raúl Salinas de Gortari have further heightened interest in his financial dealings.

Amidst ongoing legal battles and investigations into potential illicit activities related to this case will continue to draw attention from authorities from both countries.

By Sophia Gonzalez

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