Police uncover massive bank fraud in Málaga

Police uncover massive bank fraud in Málaga
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By m.p. - Nov 23, 2009 - 12:31 PM
The 37 suspects arrested obtained an estimated 3 million Euro

EFE archive

Police in Málaga have broken up a network of 37 people arrested for bank fraud amounting to 3 million €. The arrests took place in Málaga, Torremolinos, Alhaurín el Grande, and Antequera, and it’s understood that properties were also searched in Alhaurín el Grande.

The gang’s targets were generally people on low income without access to personal bank loans, who paid the network a hefty commission in exchange for forged documentation to allow them to apply for the loan. They also targeted people who had been refused a mortgage, providing them with forged wage slips and income tax declarations.

It’s understood from EFE that two branches of an un-named bank were searched in Málaga and Antequera as part of the National Police operation.

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