This is a huge deal.
It appears that Real's former president Ramon Calderon and present president Vicente Boluda are being investigated for the illegal transfer of club property. The judicial investigation conducted by magistrate Santiago Torres has asked that copies of all books and trading accounts be submitted. This includes receipts, contracts, and invoices. The investigation will open up an office on the club premises which means that the club offices will be sealed.
The magistrate is also asking the Mercantile Registry and the Office of Land Register to provide financial data on the accused. It is a wide ranging inquiry and covers the gamut of financial transactions from real estate to foreign currency reserves.
If the investigations turn up evidence of financial impropriety then the magistrate could dissolve the current board. This represents the most serious turn of events since Atletico Madrid was put under judicial administration.
The timing is exquisite. With Florentino Perez poised to return as president on June 1st, it appears someone got the ear of the magistrate. Perez could not have set this up better. Saviour of Madrid indeed! He will bring in Jorge Valdano and Zinedine Zidane along with him.