J avier Mascherano reportedly shut a secret offshore company at the time of his trial for tax fraud in Spain.
On December 4, 2015, the former Barcelona defender reached an agreement with the Spanish authorities for a sentence consisting of a one-year suspended jail term and a fine of 815,000 euros for tax fraud of 1.5 million euros.
At the same time, according to El Confidencial, the Argentine started to liquidate an offshore company that had gone undetected by the Spanish authorities and that didn't appear in the court's verdict.
El Confidencial say that Mascherano 's offshore company, registered in the British Virgin Islands as Alenda Investments Ltd., made a transfer of 260,000 dollars under the description "personal expenditure" barely a month later.
The reports add that Alenda Investments Ltd. drained their accounts to zero by transferring more than one million dollars.
All these movements and transfers were reported as suspicious as part of the recent FinCEN Files leaks focused on the US Financial Crimes Enforcement Network.
However, Mariano Aguilar, Mascherano 's advisor, has denied any links between these transfers and the footballer's settlement.
"When the sentence was agreed upon, [ Mascherano ] made the decision to start to dissolve the personal companies from different businesses that he had in different countries like, for example, in Uruguay, in order to make earnings from his image rights," Aguilar said.
Aguilar also added that the one million dollars transferred out of Alenda Investments Ltd. went towards two real estate investments in Uruguay.