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ARCHIVED - Alicante lawyer jailed over real estate scam and tax fraud
The solicitor is one of seven people arrested in connection with the scam which saw 13 victims lose their homes in Alicante province
Police in Alicante have brought down a criminal organisation believed to be responsible for a real estate scam which saw 13 victims lose their homes and others lose tens of thousands of euros.
Seven arrests have been made, including a practising lawyer who is suspected of masterminding the scam, charged with crimes of fraud in the real estate sector, falsification of commercial documents and money laundering through a corporate network created for the purpose of swindling unsuspecting and often vulnerable homeowners.
According to the National Police, the lawyer used his position of trust to deceive at least 18 victims and transfer assets.
With the help of a wide network of front men and collaborators, the scammers advertised themselves in various local media as a company that granted loans to individuals, managing to attract people with serious financial difficulties or at risk of social exclusion.
In order to grant the loans, most of which were never handed over, the fraudsters stipulated that a real estate property be used as collateral in order to guarantee repayment.
Trusting the lawyer and his credentials, the victims agreed, unaware that what they were really doing was signing their homes over to a criminal organisation with a fictitious millionaire share capital.
The National Police's specialised Money Laundering and Anti-Corruption Group, which carried out the investigation, has been able to identify at least 18 victims and evidence that 13 properties were sold on to third parties.
The seven Spanish detainees, all men aged between 41 and 62-years-old, have been handed over to the Examining Magistrate's Court in Alicante, which ordered the provisional imprisonment of the Alicante lawyer who has not been identified.
Image: Policia Nacional
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