The controversial ultra-liberal businessman Ricardo Salinas Pliego, Mexico’s third fortune, has in recent years woven a network of companies in Spain and Luxembourg to avoid taxes through the so-called ETVE, foreign securities holding entities, a fiscally advantageous tool to attract multinationals to Spain.
Salinas Pliego is one of the largest fortunes in Latin America and the third in Mexico, after Carlos Slim and the mining businessman Germán Larrea. There they accuse him of evading billions of euros, with more than a dozen complaints for tax disputes and a confrontation with the Government of Andrés Manuel López Obrador.
