None of them will see the inside of a cell, but they will have to pay fines of between €1,080 and €1,440, as well as a civil responsibility payment of €500,000 to the victims.
Eighteen people were initially charged in the case, but one has died and the other seven are in contempt of court.
Although only 300 people are claiming responsibilities from the 13 people of different nationalities who operated from Fuengirola, there are believed to be many more victims of the scam.
As the amounts they paid were relatively small, around €1,200, many people have not reported the crime.
Under the protection of a real company, but using a false name and lists with names of timeshare owners, they would call them offering to help them sell their timeshare property for an excellent price, claiming to have a buyer.
To do so, they first requested money from the clients and sent them documents which made everything appear legal, later giving them excuses for why they hadn’t received their money.
The scam, which began in 2000, was set up by a British couple and a South African who has since died. They allegedly changed the location and details of the company every so often to avoid being caught.