Zapatero's Venezuela crypto connection
Zapatero acknowledges friendship with Venezuelan businessman linked to senator's son's crypto venture
Former Spanish Prime Minister José Luis Rodríguez Zapatero has publicly admitted to a close personal friendship with Manuel Aarón Fajardo, a young entrepreneur who set up a cryptocurrency exchange in Caracas. In a televised interview on June 15, Zapatero confirmed he helped "open doors" for Fajardo in Venezuela as a personal favor — a rare acknowledgment that has drawn fierce political backlash in Spain. El Periódico
The admission connects a sitting PSOE Senator from Lanzarote, Manuel Fajardo Palarea, to Zapatero's frequent and controversial trips to Venezuela. The Senator reportedly asked Zapatero to "guide and protect" his son in Caracas. Manuel Aarón Fajardo went on to found a crypto exchange estimated to be worth around €12.5 million. El Periódico de Aragón
A Senator's Son Builds a Crypto Empire in Caracas
Manuel Aarón Fajardo moved to Caracas in March 2021. He registered a cryptocurrency exchange there in November 2022. Foreign investors typically face heavy red tape in Venezuela. Fajardo reportedly bypassed several of those hurdles. Whistleblowers inside Venezuela's crypto regulator, Sunacrip, allege the exchange charges a 15% spread on state-linked crypto conversions. Levante EMV
The exchange lets users convert Venezuelan bolívars into stablecoins — a workaround that helps businesses move money in a heavily sanctioned economy. Venezuela banned or sidelined its own state cryptocurrency, the Petro, leaving space for private "trusted" exchanges like Fajardo's to fill the gap. The business reportedly handles millions in remittances tied to Spanish-Venezuelan dual citizens. Diario Córdoba
Zapatero Admits He Opened Doors in Maduro's Venezuela
In the RTVE interview, Zapatero called his role one of "mentorship and friendship." He said: "Helping a compatriot navigate a complex market is not a crime; it is an act of solidarity." He has made 42 documented trips to Venezuela since 2015 — more than any other former European head of state. Diario de Ibiza
Investigative reports link Zapatero's access to Miraflores Palace — the seat of Venezuela's government — to Fajardo's smooth entry into the market. Venezuelan Vice President Delcy Rodríguez allegedly gave the regulatory green light for the exchange at Zapatero's request. The Lanzarote connection matters here: Zapatero has long held a residence in Famara, Lanzarote, where he built his bond with Senator Fajardo Palarea. La Opinión de Zamora
Spanish Opposition Calls It Cronyism, Demands Senate Inquiry
On June 18, the PP and Vox parties formally asked for a Senate inquiry into what they call "parallel diplomacy and influence peddling." PP leader Alberto Núñez Feijóo called the admission "the smoking gun of a private foreign policy run for PSOE cronies." Vox went further, demanding Zapatero lose his diplomatic passport entirely. El Correo Gallego
The PSOE government distanced itself, saying Zapatero acts as a "private citizen" and does not represent official Spanish foreign policy. Analysts are skeptical. Dr. Arantxa González, an Ibero-American relations expert, said: "Zapatero is no longer a mediator; he is a stakeholder." She argued his admission "has compromised his status as a neutral arbiter" in the Venezuela peace process. La Nueva España
Legal and Diplomatic Fallout Could Reach Brussels
Spain's anti-corruption prosecutors, the Fiscalía Anticorrupción, may now examine whether Zapatero's help constitutes influence peddling — known in Spanish law as tráfico de influencias. If charges follow, it would mark a historic legal first for a former Spanish prime minister acting abroad. Información
The wider damage may be diplomatic. Spain has long called for democratic transition in Venezuela within the EU. If a former PM helped a ruling-party senator's son profit inside that same regime, Brussels will take notice. Frozen assets could also affect thousands of Spanish-Venezuelan dual citizens who rely on Fajardo's exchange for remittances. El Periódico Mediterráneo
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