Spanish Police have arrested a network of 22 people in Tenerife and Malaga, on the Costa del Sol, on suspicion of fraudulent timeshare resale activity.
The fraudsters were helped by disgruntled employees of the companies which manage the timeshare resorts, who would provide them with the timeshare owners’ contact details.
Some victims were conned several times by the scheming network, whose members would first contact the owners to offer a potential buyer for their timeshare and again when the sale didn’t realise to offer the services of a lawyer to recover the money paid in advance for the transfer of ownership. The names of real notaries were also used to add credibility.
Officers found bank documents, lists of owners and instructions for the sales calls, as well as 30,000 euros and taser guns in the 11 properties searched as part of the operation.