Zapatero faces an active Audiencia Nacional investigation for alleged influence peddling, money laundering, and related offenses tied to the 2021 Plus Ultra airline bailout and separate dealings involving Peruvian and Bolivian interests. Court records show he has testified as an investigado, with searches yielding documents and jewelry under further scrutiny, while a parallel probe examines leaks of his personal agendas and communications. No detention has occurred to date despite the judge expanding inquiries into intermediaries and family-linked entities. Traders weigh the probe's procedural trajectory, including upcoming statements and asset valuations, against precedents for high-profile political figures who remain free pending formal charges or trial.