TWENTY-FOUR HOURS LATER, 80%

Between the application for the money and Apolozan's entry into the company, exactly one day passed.

On 16 May 2012, Carcedo and Iriarte sold him 80% of the shares of Iriarte Grupo Lanzarote S.A. (A.2). They presented it to him as a requirement of the programme: to qualify for the aid, a solvent public limited company was needed, and he had to be its majority shareholder. They assured him of capital of 60,000 euros and a regular standing.

The Registry tells a different story. The company was not even registered when they sold him its majority: its registry entry is dated 12 June (A.3), almost a month after the sale. And the backing capital they guaranteed him would not survive the first serious check — the case's own documentation refutes it.

The architecture set up in those 48 hours of May is worth looking at slowly, because it is the blueprint for everything else: the man who contributes the only real asset —the software— also becomes the formal majority shareholder of the structure. Whoever manages the money and whoever answers for it cease to be the same person. The advantages stay on one side of the table; the responsibilities on the other.