Police uncover real estate scam targeting Britons
Spanish police have arrested a gang which swindled more than 200 foreigners of EUR 65 million in a real estate scam.28 November 2008
MADRID – Spanish authorities said Thursday they had broken up a gang which swindled over 200 people, most of them Britons, of some EUR 65 million in a real estate scam.
Police searched six premises in the southern province of Malaga on Wednesday, arresting two people, the public prosecutors' office said in a statement.
They want to question another 20 people suspected of involvement.
Working on the Internet, the gang persuaded non-residents of Spain to invest in a non-existent real estate scheme in the southern Costa del Sol region.
British authorities were involved in the investigation, which started two years ago and is continuing, the statement said.
[AFP / Expatica]