Economist Juan González Herrero is reportedly seeking new investors through a Ponferrada-based legal firm, despite being investigated by Spain’s National Court in connection with an alleged €200 million pyramid scheme linked to Herrero Brigantina. The company attracted around 35,000 clients in Europe with investment products, pension plans, insurance and mortgage services.

According to recordings made covertly in 2025 by a former associate and reviewed by the source publication, González promoted corporate bonds offering a 300% return in 15 days. In one example, he described how an investment of €50,000 could become €150,000 in that period.

González reportedly channels the offer through Leyec 2024 SLP, a legal firm in Ponferrada created three months after the investigation began. Corporate documents list him as its sole administrator alongside two lawyers. One of the firm’s partners, Luis Fernández, said he was unaware that the office was being used to raise funds and said he did not work with González.

The former associate who recorded the meetings has filed a complaint in Valladolid over two cheques worth €29,600 that he says were issued by González but returned unpaid. The former collaborator also alleges that González showed him documents and bank accounts and claimed that more than €100 million linked to Herrero Brigantina was held in Mexico and would guarantee investors’ money. Lawyer Jaime del Pozo, who represents the complainant, said the allegations could involve suspected document fraud and fraud.

In the recordings, González reportedly acknowledged that clients might suspect the bonds were fraudulent. He argued that committing another offence while already under scrutiny from the National Court would be too risky. He also said that another company within the business structure would cover any shortfall if problems arose after five million euros had been raised from clients.

The source publication said González suggested in another conversation that he had funds abroad and needed to act cautiously because disclosure could harm a possible agreement with prosecutors in the Herrero Brigantina case. Attempts to obtain his response were unsuccessful.

José Luis Ortiz, a lawyer representing 563 Herrero Brigantina clients who deposited €25 million, said González had created three companies while remaining under the court’s scrutiny. Ortiz also accused him of presenting himself as a lawyer despite not being one and said he would seek his pretrial detention without bail.

People who worked with González over the past year described him as charismatic and highly persuasive, with strong command of financial terminology. They said he offered commissions of up to 30%. One financial professional, speaking anonymously, said he became concerned about a proposed €22 million credit line and claimed González blocked people who raised doubts.

González was arrested by Spain’s National Police in 2023. During Herrero Brigantina’s expansion, the group reportedly considered a stock-market listing, while the Financial Times ranked it 149th in its 2021 list of Europe’s 1,000 fastest-growing companies. The business built its reputation by promoting returns of 50% over ten years. González is now facing continued legal scrutiny as he promotes a new investment proposition.

Sources: El País Economía.