Spain’s Audiencia Nacional and the Nimbus Case: Criminal Law at the Cutting Edge

La Audiencia National in Madrid, Spain

Spain’s Strict Approach to Crypto Fraud

Spain has emerged as one of the strictest jurisdictions in Europe when it comes to crypto-related fraud. Where other countries see civil disputes or regulatory breaches, the Spanish Audiencia Nacional prosecutes serious crimes with the possibility of imprisonment. This uncompromising stance creates enormous challenges for defense: lawyers must master complex digital forensics, coordinate cross-border strategies, and defend clients under the weight of criminal sanctions.

The Nimbus Investigation: A Macro-Case of Global Dimension

The Nimbus case has become the paradigm. Prosecutors allege that the platform ran a pyramid scheme disguised as a crypto investment service, leaving investors worldwide with losses exceeding 100 million euros. Its magnitude and international scope placed the case firmly within the jurisdiction of the Audiencia Nacional, the Spanish court specialized in macro-cases with high financial and social impact.

High-Profile Defendants and International Defence

The proceedings involve prominent figures, from a former World Bank consultant arrested while transiting through Spain to top executives of the platform. While some remain in custody, others have secured provisional release. In this context, Maria Barbancho, member of the Joint Defense Team, and her team have played a key role: in one instance, they successfully coordinated – in an organized and timely manner – the arrival of an extradited defendant to Spain, ensuring proper legal representation from the very outset.

Maria Barbancho, LL.M., Member of the Joint Defense Team

Spain at the Forefront: Criminalization Where Others See Grey Zones

What makes the Nimbus case remarkable is that Spain has classified conduct as criminal that in other jurisdictions remains unregulated or dealt with in civil courts. In the United States, for example, most crypto investment schemes are pursued by the SEC or through class actions, rarely through criminal indictments. Spain, by contrast, entrusts the Audiencia Nacional with prosecuting such cases as organized fraud and money laundering crimes, with penalties including imprisonment.

The Global Significance of the Audiencia Nacional’s Approach

This bold stance positions the Audiencia Nacional as a global benchmark in combating transnational financial crime. The effectiveness of this approach has even led to the extradition to Spain of several high-net-worth individuals allegedly involved in the scheme, underlining the international reach of the Audiencia Nacional.

Spain at the Forefront: An Upcoming Trend?

Spain has gone further than most jurisdictions by treating large-scale crypto fraud as a matter of criminal law. The question now is whether this strict prosecutorial stance will remain a Spanish singularity or whether it signals an emerging trend in international criminal law.

Conclusion: Defense Under Pressure in a Changing Landscape

The Nimbus case makes clear that Spain is pioneering new ground in crypto criminal law. For defendants, the risks are higher than in most countries. For lawyers, the responsibility is heavier than ever. In this strict environment, only well-coordinated international defence teams can safeguard fair trial rights and provide the technical expertise necessary to meet the challenges of a digital financial era.