National Police sweeps up Nordic criminal gang

Spain’s National Police, working with Swedish authorities, have arrested the leader of a Swedish crime gang in Marbella, accused of defrauding Nordic investors out of over €2.33 million (25 million Swedish kronor).

The suspect, 36, was arrested under an arrest warrant issued by the European Union. He allegedly organized a scheme to target investors, promising high returns on fraudulent financial deposits. The operation culminated in a search of the suspect’s Marbella house, with its video surveillance.

Police seized over €65,000, $4,800, and 60,000 Swedish and Danish kroner in cash, alongside €100,000 worth of jewellery and luxury watches, computer equipment, phones, and two luxury cars. In addition, three Spanish accounts were frozen.

The suspect was the leader of a group consisting of Swedish nationals that lured victims with promises of quick returns into a fake investment scheme. The group collected funds and then delayed payments indefinitely, leaving investors with nothing. The evidence of money laundering added further to the accusations of economic crimes.

The leader lived in a lavish lifestyle at the Costa del Sol. He oversaw an operation that collapsed after his arrest. The coordinated effort shows that cross-border financial crimes are being tackled, and justice is being served to victims who were defrauded millions of dollars and a sophisticated scam which preyed on ambition and trust.