We are very pleased to announce that on Monday the 16th of March 2015 the police of Malaga, the Fraud Squad UDEF has raided over 11 fraudulent companies on the Costa del sol and arrested 60 people.
In the Operation Tormenta (Storm) the police took 60 arrests (56 of them Britons), of which 3 are considered the alleged responsible of the gang, and these 3 have been put into prison.
The other arrests were telemarketers and others involved in the scams from the 11 raided companies.
The investigations from the police squad have taken over 8 months in which Mindtimeshare has been in close contact with them, verifying data, names of alleged criminals involved and company names.
During the police operation they seized over 30.000 euros, 800.000 euros worth in properties, a luxury boat, 6 luxury cars, 49 computers, telephones, a money counting machine and 78 bank accounts were blocked.
The estimated amount seized is approximately a Million Euros.
The police so far has knowledge of about 500 victims but suspects this amount can double or even triple. And we from Mindtimeshare can confirm that indeed the amount will exceed by far the 500 or 1500 victims estimated. The victims are mainly British timeshare owners who have been defrauded out of their money with amounts paid between 300 euros up to 50.000 euros.
The scam was a set up in 3 stages, with the first stage being the cold calling Timeshare resale company, asking for an upfront payment for a guaranteed sale, the second stage a fake lawyer asking for fees and taxes to claim back the money through the court as the resale company “had been closed down, and the last stage fake court officials / notaries calling to say the court claim had been successful but the timeshare owner had to pay taxes and fees to release the money.
As far as the police know, these fraudsters have been operating these scams since 2009 which brings the amount of defrauded money to an estimate of 30 Million Euros.
The arrested will be accused of Crimes of fraud, forgery, money laundering and organized gang membership.
We will be informing about the operation in more details, with the names of the companies involved etc. in due course.
Links in the Spanish and British Press: