22 arrests in time share scam in Tenerife and Málaga

22 arrests in time share scam in Tenerife and Málaga
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By m.p. - Nov 23, 2009 - 2:42 PM
Police have not released any of their nationalities to the press

22 people have been arrested in a timeshare fraud in Málaga and Tenerife which swindled the victims out of money paid to cover the transfer of ownership for the fictitious sale of a share in their property. There were even some cases when other members of the network contacted the owners again, offering their services as a lawyer to recover their money.

They too, then disappeared with the fees which had been paid over.

EFE said the network obtained their victims’ names from lists provided by employees of the companies which managed the time share complexes. No names or nationalities have yet been released by police.

Officers found in the 11 property searches which took place as part of the operation bank documents, lists of owners, and instructions for the telephone conversations to reel their victims in. Police also seized 30,000 € in cash, an air gun and an electric shock weapon.

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