Trouble for Dental Chain in Spain
March 02, 2016
As of last year, Vitaldent was a hugely successful chain of dental practices throughout Spain, Italy, and Portugal. Its founder and owner, Ernesto Colman, was a well-respected businessman on Spain’s list of 100 richest people.
The details seem to come straight out of “Catch Me If You Can” – Colman required his franchises to pay 10% of their earnings – in cash. That cash was laundered by trading thoroughbred horses, and stashed in bank accounts scattered across Switzerland and Luxembourg. In the recent police raids, officials seized 36 luxury cars and a private aircraft.
Time will tell if this investigation will have any ramifications on the quality of dental care in Spain, or the operations of DSOs in the rest of Europe or the world.
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