Three held after luxury villa scam is foiled

Police in Marbella have arrested three people after an alleged luxury property scam that involved fake €100 notes, gold bars and more than €2 million in cash, most of it suspected to be counterfeit.

The operation was carried out with Austrian police and centred on the planned sale of a villa in the Benahavís area, where investigators said the suspects tried to close a bogus deal using the so-called Rip Deal method.

How the alleged scam worked

According to police, the victim was a man from Austria who owned property on the Costa del Sol and had put a villa in La Zagaleta on the market for about €6 million. He was reportedly approached in September by people claiming to be experienced property advisers.

The suspects are said to have built up trust through meetings in upscale venues in Marbella before arranging a final exchange. Police said they offered a case full of banknotes totalling €2.1 million as payment for the villa, then asked for €300,000 in gold bars as a commission.

The seller grew suspicious and contacted police in his own country, who warned him that he could be facing a scam. That led to cooperation between Austrian authorities and the National Police in Marbella.

Arrests in Marbella and Vienna

One suspect was arrested in a café in Vienna, while the other two were detained at a hotel on Marbella’s Golden Mile as they were meeting the victim. Police said they found several paper bags packed with bundles of €100 notes and two money-counting machines.

Officers later counted €2,093,800 in cash, but said only €30,000 appeared to be genuine. The notes were sent to the Bank of Spain’s investigation unit for analysis.

Police said the operation involved more than 30 officers from Spain and Austria and was mounted simultaneously in both countries in October.

The suspects have been remanded in custody as the investigation continues.