By Euro Weekly News Media • Published: 19 Oct 2011 • 11:33
A 61-YEAR-OLD Briton, wanted for fraud by the US police since 1999 was arrested in Torrevieja. After the US authorities informed their Spanish counterparts that 61-year-old R.B.A. was in Spain he was located following dealings with a Torrevieja estate agency.
R.B.A. and the owner of an American company had together plundered the business’s pension scheme for their own benefit, according to the US police,.
After convincing employees that they stood to receive a $2.5 million profit every three weeks, bringing in an eventual $25 million after 10 months, the arrested man and his accomplice withdrew money from the fund.
Some was invested in US Treasury Bonds but the remainder went into their own bank accounts.
The deception soon came to light but it was not until 12 years later that R. B.A. was finally tracked down by the Policia Nacional’s Specialised Violent Delinquency unit.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don't already have one. Review our Privacy Policy for more information about our privacy practices.
Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our Privacy Policy for more information about our privacy practices.
Download our media pack in either English or Spanish.