Costa News Spain Breaking News | English News in Spain.
A SWEDISH fraudster who ripped off investors to the tune of over €2.3 million via a bogus investment scheme has been arrested in Marbella.
The Policia Nacional detained the 36-year old man under an European Arrest Warrant.
The man is said to be a wealthy man who lived in a luxurious Marbella house, protected by sophisticated security measures.
READ MORE
The detainee is accused of leading a Swedish gang who recruited Scandinavian victims into a ‘get rich quick’ scheme.
Targets who deposited large amounts of money expecting high returns on investment received nothing.
The group would give excuses to clients when they asked why their money had not been paid.
The leader of the gang was charged with money laundering, financial fraud and other crimes.
In Sweden, his associates were arrested to ensure that the organization was completely dismantled.
A search of the ring-leader’s Marbella home resulted in Policia Nacional officers seizing over €65,000 in cash and in addition to €4,800 US dollars plus Danish and Swedish money.
Also removed were jewellery and luxury watches worth €100,000, computer equipment and mobile phones.
Three bank accounts and two luxury vehicles have been impounded.
The National Court at Madrid will handle the Swedish extradition request pertaining to the 36-yearold.
