Former Barcelona star Andrés Iniesta

Former Barcelona star Andrés Iniesta is under investigation in Peru over allegations of aggravated fraud linked to failed sports and entertainment events.

According to Peruvian prosecutors, several investors and the company Gucho Entertainment S.A.C. filed a complaint accusing Iniesta and his associates of defrauding them of about $600,000.

The funds were reportedly invested in projects promoted by NSM Barcelona—chaired by Iniesta—and its South American branch, NSN Sudamérica.

Investigators say Iniesta’s global reputation was used to attract local businesspeople to invest in high-profile events such as international football friendlies and K-pop concerts, most of which never took place. Only one event, the Upa Upa Fest, was held but ended in significant losses, forcing the cancellation of other planned activities.

Despite public promotions and Iniesta’s remarks praising Peru’s enthusiasm for sports during the company’s 2023 launch, investors claim they received no financial returns. NSN Sudamérica was later declared bankrupt and liquidated without providing any financial records.

Iniesta is being investigated alongside Paul Valderrama Rubio and Carlos Gómez Pintor, who allegedly oversaw the company’s expansion into Peru. Authorities are now tracing the missing funds and reviewing financial documents.

Among the complainants is Iván Petrozzi, who invested $35,000 for a friendly match in Miami between Barcelona SC and Sporting Cristal. Others, including Juan Manuel Vargas Alva and Jorge Alberto Yáñez Giles, report similar losses.

Prosecutors have yet to conclude their preliminary findings, and neither Iniesta nor the other accused parties have issued public statements regarding the allegations.