Malaga police bust alleged time-share fraud group

0
shutterstock.com

POLICE in Malaga have busted a network of alleged scammers believed to have tricked more than 500 people, mostly UK residents, out of money.

A total of 60 people were arrested in the operation and assets worth almost €1 million seized when police investigators tracked down members of the group, which it is claimed managed to get money out of victims by offering to sell their time-share for extremely attractive prices in exchange for a small fee to be paid in advance.

Telesales people working for 11 cover companies contacted time-share owners with an offer many couldn’t resist, and requested that they transferred fees in advance to bank accounts opened in the names of front men who it is alleged later withdrew the cash to hand over to the group’s leaders.

-- Advertisement --

In some cases it is claimed the scam was taken to an even higher level when group members later contacted victims claiming to work for a law firm gathering cases to take to court.

Following the arrests, eight properties were searched and assets including vehicles, computers, mobile phones and office equipment confiscated.

Information on more than 500 alleged victims, mostly UK residents, was found during the searches.

LEAVE A COMMENT

Please enter your comment!
Please enter your name here