The Mossos attribute a loss of $1.2 million to a network of real estate scams with victims across Spain

It was Complaint from the notary office From Figueres (Girona) which began investigations, in May of this year, for alleged fraud. The network simulated real estate agencies and ended up requesting loans from private sector investors, which were not returned. The guarantees had the same characteristics.

Deception consists of four stages. The first of them focused on researching portals for buying and selling real estate with high economic value that could attract the attention of investors. Hence, criminals request information through various means, such as the land registry, to obtain the personal data of the owners and thus find out whether the selected homes are free or not. Some checks focused on the ability of future investors to score a Call option on real estate products.

The second phase began as soon as they received Details of property owners. Hence, members of the organization prepared false documents to impersonate their owners and granted documented powers to freely dispose of property for the benefit of another member of the network, such as the lawyer who provided the power of attorney, and who was among the detainees.

With the granting of powers, the third phase began Operations with real estate investors. The persons investigated contacted financial advisors or intermediaries, simulated some needy personal situations in which the owner had to grant powers of attorney to a third party, I requested a large amount of creditoften between 100,000 and 300,000 euros, which is what they wanted Security of property over which they fraudulently acquired powers. This credit was achieved through a relatively short-term purchase option – usually twelve months – on behalf of the investor who, if the credit was not returned, could acquire the property at a price clearly lower than its true value.

According to the terms of the agreed upon financial transaction, the two parties met before a notary public to authenticate it with the relevant signatures and deliver the credit amount via bank transfer.

The final stage of the criminal procedure was to divide the profits obtained between the members of the organization and carry out investments, purchases and banking transactions with the aim of concealing the illicit source of the funds. In fact, researchers were able to prove this Joint acquisition of real estate between some investigators As well as investment operations and purchases of vehicles and companies on the dates immediately following the fraudulent operations.

Owners, victims

Among the victims of the scams were mainly the owners of the properties on which they were carried out. Fraudulent notarial acts On behalf of the owners and investors who obtained the purchase option, confident in the legitimacy of the power of attorney. Investors who barely managed to discover the scam before the loan repayment period expired.

On the other hand, as part of the investigation, complaints were also received from intermediaries and advisors who put creditors in contact with the perpetrators of the fraud. Thus, the Moses was able to prove the existence of a thirteen-minute grant Fraudulent agencies With false ID cards, in addition to seven completed fraud operations worth more than 1.2 million euros. With all the evidence collected, on November 11, the agents designed a device, involving more than 80 police officers, to arrest members of the network who made simultaneous entries into Estepa (Seville), Rubi and Manresa (Barcelona).

The final tally of the operation was 22 detainees – 17 men and five women. The majority of the detainees had a record of numerous crimes, and specifically, key leaders in the organization had previously been arrested for committing crimes of the same type. Accused of fraud crimes Money laundering, falsification of public documentsusurpation of civil status and membership in a criminal organization.