THIRTEEN people believed part of a Ponzi scheme were arrested in Alicante City.
They reportedly scammed €3million from around 4,000 investors in the scheme.
Victims paid into the scheme on the promise of a 25 per cent return on investment in just 40 days.
The head of the business, Global Plus Inversiones, who lives in Monforte del Cid with his wife, were among those arrested.
The other detainees headed up operations in various other provinces including in Elche, Murcia, Valencia, Barcelona, Madrid, Martorell, and Cadiz and two other offices in Alicante.
It is believed they were preparing to begin operating in Portugal.