Former Spanish Prime Minister José Luis Rodríguez Zapatero faces an active criminal investigation in Spain’s Audiencia Nacional over alleged traffic of influences, money laundering, and related offenses tied to the Plus Ultra airline case and international dealings, including reported payments linked to Bolivia. He was formally cited as an investigado in May 2026, appeared for questioning in June, and continues to contest asset seizures and expert valuations into October 2026, while a separate Madrid court probe examines leaks of his private agendas and messages. No arrest warrant or detention has been ordered to date, reflecting standard procedural steps for former senior officials and the high evidentiary bar for pretrial custody in such cases. Upcoming court dates, including testimony involving family members and further financial reviews, could influence momentum, though markets currently price near-term arrest risk as low given the absence of detention signals and ongoing defense challenges.