Police uncover real estate scam targeting Britons

28th November 2008, Comments 2 comments

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]

2 Comments To This Article

  • Marian posted:

    on 4th December 2008, 19:46:43 - Reply

    I agree with Richard. I said exactly the same "Is that it?" I was all set to read a lot about the property scam - and that was it!"
  • richard posted:

    on 3rd December 2008, 12:22:53 - Reply

    Is that it? The articles on this site really need more work.