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Overseas Property News
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Spanish property scam leads to arrests
Country: Spain
28 November 2008
Police in Madrid have arrested two people following a two-year investigation into a £54m property swindle, which targeted foreigners.
It is believed that around 200 overseas national, mostly Brits, were convinced to buy into a number of off-plan property schemes along the southern Spanish coast, which the developers had no intention of building.
The identities and nationalities of the two people being held in custody have not been released, but police did confirm that a further 20 suspects from a host of other countries are being investigated in connection with the scam.
Browse other Spainish property news stories, read articles about investing and buying property in Spain or view our range of property in Spain.
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Price: €79,000
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Type: Apartment
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SPECIAL OFFER AT A BARGAIN PRICE!!
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