MALAGA GAZETTE

Tuesday, February 17, 2009

OFFICERS of the National Police have arrested six persons from Marbella, Alicante and Ibiza suspected of defrauding 70 businessmen and women


Tuesday, February 17, 2009 | ,

OFFICERS of the National Police have arrested six persons from Marbella, Alicante and Ibiza suspected of defrauding 70 businessmen and women by pretending to invest large sums of money in foreign companies in exchange of a profit share, and pocketing the administration and legal costs of these transactions; a figure that is estimated at four million euros.The investigation that lead to four Marbella residents and one from Ibiza and another from Alicante, was carried out by the Costa del Sol Organised Crime and Anti-drugs Unit. One of the four arrested from Marbella is thought to be the kingpin in this fraud ring. Four houses valued in excess of one million euros, 400,000 euros, several luxury vehicles and a large amount of documentation was seized by the authorities in this case where further arrests have not been ruled out.


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