Shop owner arrested in alleged gold scam

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THE owner of a shop which bought and sold gold in Vicar has been arrested charged with fraud and three employees have also been charged.

The suspect is a 28-year-old resident of Andujar (Jaen) identified by his initials RFM.

They allegedly tricked sellers making them think the weight of gold being sold to the shop was lower than it actually was paying them less for it than they should have, Guardia Civil suspect.

Almost 1,000 people are thought to have been affected and the suspects are thought to have pocketed up to €100,000 of undeclared cash.

They advertised up to €38 per gramme of gold to attract clients, who would sign a blank invoice, which didn’t reflect the weight or the value of the transaction.

These details would be added by the shop owner and assistants once the client had left, reflecting the true value, although they had given the victims less money.

The detainee has seven other shops in Andalucia, and at one point had 19, and could be linked to a further 100 nationwide.

Guardia Civil said they have not ruled out further arrests.

By Jennifer Leighfield

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