Barcelona president Joan Laporta has fraud case dismissed by court
Barcelona president Joan Laporta has had a fraud case against him dismissed by a Spanish court.
The 63-year-old was one of several high-profile figures facing scrutiny over his links to Spain-based company CoreStore and Hong Kong-registered firm CSSB Limited.
According to Spanish media outlet Mundo Deportivo, three lawsuits had been filed against the Barca chief, alongside vice-president Rafa Juste and former directors Xavier Sala i Martin and Joan Oliver.
The projects in question involved ambitious plans by CoreStore to take lower-league side Reus Deportivo into Spain’s second tier, while CSSB Limited aimed to establish a La Masia-style football academy in China.
Laporta and Oliver both held managerial roles at CoreStore, with Oliver serving as Reus’ general manager before the club was liquidated.
The Barcelona Provincial Court dismissed the specific lawsuit brought by former tennis player Albert Ramos, who invested €100,000 (£85,000) into the ventures in 2016.
Following the collapse of the projects, Ramos accused Oliver and an adviser of fraud, alleging they promised a low-risk investment and used the names of Laporta, Juste, and Sala i Martín to attract investors.
However, judges rejected the arguments, ruling there was a lack of evidence to prove the executives’ names were used as “bait”.
The court noted that the core project was genuine, Ramos had received dividend payments for two years, and the subsequent financial defaults were down to unexpected external events. These included Reus being expelled from the professional league in 2019, followed by the impact of the coronavirus pandemic.
Judges added that because Ramos had been kept updated on the project’s progress and the proposed changes to his loan, intentional deception was unlikely.
The court’s decision regarding Ramos is expected to heavily influence the outcomes of two remaining cases brought forward by other investors in the same firms.
