Mossos admits losses of 1.2 million to real estate fraud network with victims across Spain

it is Complaint from notary public office The man, originally from Figueres (Gerona), was investigated for fraud in May this year. The network then simulated real estate powers of attorney and eventually requested loans from private investors, which were never repaid. The collateral was the same property.

The deception consisted of four stages. The first study focused on investigating portals for buying and selling real estate with high economic value that could attract the attention of investors. From here, the criminals requested information through various means, such as real estate registries, obtained personal data of the owners and learned whether the selected housing was free or not. Some checks focused on whether prospective investors could register. Purchase options for real estate products.

They Property owner details. From here, members of the organization created false documents in order to usurp the identity of the owners and grant notary powers to freely dispose of the properties in favor of other members of the network, including attorneys acting on their behalf.

With the authority granted, the third stage began specifying the following: Operations with real estate investors. Those investigated contacted advisors and loan intermediaries to simulate situations of personal need, where owners were forced to give power of attorney to third parties. requested a large loanoften between 100,000 and 300,000 euros, they wanted it secure the property from which they gained power fraudulently. This credit was realized through relatively short-term purchase options (typically 12 months) that favored investors who could acquire the property at a price significantly lower than its actual value in the event that the credit was not repaid.

The terms of the financial operations were agreed upon and the parties met in the presence of a notary public to materialize them with the relevant signatures and delivery of the credit amount by bank transfer.

The final stage of the criminal proceedings consisted of distributing the profits obtained among the members of the organization, making investments, purchases and banking transactions, with the aim of concealing the origin of the illicit funds. In fact, researchers were able to prove that: Joint acquisition of real estate by multiple people is subject to investigation Investment activities and purchases of vehicles and businesses also occurred immediately after the fraud incident.

owner, victim

Many of the victims of fraud were the owners of the properties where the fraud took place. fraudulent notarial act On behalf of the holders and investors who have relied on the validity of the Power of Attorney and have obtained the Purchase Option. Investors rarely discovered fraud before the end of the loan repayment period.

Meanwhile, complaints were also received from intermediaries and advisors who brought creditors into contact with the perpetrators of fraud within the framework of the investigation. Mossos was therefore able to prove the existence of a 13-minute permit. fraudulent power of attorney In addition to the cases involving fake IDs, seven fraud cases worth a total of more than 1.2 million euros have been completed. With all the evidence collected, on November 11, the agents designed a device to arrest the members of the network, who simultaneously entered Estepa (Seville), Rubi and Manresa (Barcelona). The apparatus included more than 80 police officers.

The final number remaining in the operation was 22 (17 men and 5 women). The majority of detainees had some criminal history, particularly the organization’s key leaders, who had previously been detained for similar crimes. They are accused of fraud; Money laundering, falsification of official documentscivil usurpation and membership in a criminal organization.