Valencia owner Peter Lim under investigation for €23m in alleged tax fraud

Majority shareholder of Meriton Holdings Peter Lim is under investigation for tax fraud, according to the latest in Valencia. Lim and Meriton Holdings also hold a majority stake in Valencia.

One of the most consistent opposers of Lim’s leadership, Miguel Angel Zorio, has announced that Lim is under investigation for money laundering, disloyal administration and falsification of documents. As per Relevo, Zorio claimed the tax office were investigating documents that he had provided, alleging that Meriton Holdings were paid €23m between 2022 and 2023 by the club for services not rendered.

Zorio alleges that there is no evidence of the €17.2m in 2022 and €6.147m in services in 2023, and also points to the fact that President Layhoon Chan did not declare any income in Spain. Valencia also did €3m in business with a Chinese Bazaar in six months of 2023, which Zorio believes is suspicious. The services Meriton charged for were not shown in Valencia’s accounts for those years either, according to him.

Valencia have not publicly commented on the matter, but have off the record noted that both La Liga and auditors Ernst and Young looked at their accounts in both years, and it would be difficult to get any false accounting past them.