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18 January 2008
MALAGA – The CEO of a Málaga developer and his brother are being charged with fraud by around 20 clients who made a down payment on houses that were never built.
The buyers, who are mostly British, filed charges against Grupo Mirador, which is run by Enrique and Leopoldo Faura, after waiting nearly five years for their homes to be built in Fuente de la Piedra. In April 2003 the victims of the alleged fraud paid between EUR 30,771 and EUR 88,024 in advance for houses whose construction is yet to be completed.
The irregular proceedings also extend to the bank that was meant to guarantee the return of the money should the contract between the clients and the developer be rescinded. Caja Hipotecaria Centro Sur S.A. was registered in Panama and is no longer operational.
[Copyright EL PAÍS / FERNANDO J. PÉREZ 2008]
Subject: Spanish news