Tenerife Timeshare Arrests
June 22, 2009 Leave a comment
This piece of hot news was just published by Typically Spanish.
“The Interior Ministry says more than 50 people were affected and up to 1.5 million Euro defrauded.
Seven people have been arrested in a timeshare fraud on Tenerife, in a case which the Interior Ministry said would have affected more than 50 people and brought the fraudsters up to €1.5 million.
The fraud in the southern part of the island consisted in the suspects contacting the victims saying they had a purchaser interested in buying their rights to the property. Those who chose to go ahead were charged around €30,000 in taxes and the cost of transferring ownership. They heard nothing further from either their supposed buyer or the intermediary after the money had changed hands.
Officers found in a property search which took place as part of the five-month investigation banking documents, property deeds and receipts for money transfers to Senegal. The seven in custody are the holders of bank accounts where the money defrauded was paid, and are all residents of Tenerife. The Ministry has not released details of their nationalities”.