Costa Blanca agents arrested after scamming foreign clients who ended up almost penniless

The Policia Nacional arrested four people, including a couple who run an Alicante-based real estate agency. They were all accused of scamming mostly foreign clients.

Three men and one woman were accused of fraud, forgery of documents, coercion, and violation of employee rights in relation to the illegal employment by a non Spanish national.

The Policia Nacional said that over €100,000 was illegally obtained by the scammers.

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The couple were not the only detainees. A man who handled their loans and an employee from another estate agent who secretly deposited the money he had illegally obtained in a bank account, without the knowledge of his employers.

A client went to the police to report that she was scammed after she lost a €50,000 deposit on a flat when she was coerced into signing away her rights to the property.

The police confiscated documents and discovered three other victims, mainly foreigners.

Customers were offered to purchase homes, even though they weren’t for sale or the potential buyers didn’t qualify for a loan.

After paying significant deposits and booking fees, customers are pressured to sign fake documents, which look official.

The papers included by the bank suggested that they would be able to get a mortgage.

Investigators discovered that fraudsters exploited people’s ignorance of the legal procedures and buying property in Spain.

All the victims lived in short-term rented accommodation, making them vulnerable.

The Policia Nacional said the buyers suffered ‘severely’, as they cleared out their savings and bank accounts to make payments and even became homeless.

The investigation is ongoing and there are still efforts being made to identify other possible victims.

The Olive Press offers Costa Blanca News.