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9 Arrested in Timeshare Scam

Fri 18th Dec 2009

A British man is understood to be one of nine people that have been reported to have been arrested in Benidorm in connection with a timeshare fraud investigation. The network came to light after a reported fraud in the Canary Islands and a total of 130,000 Euros has so far been recovered by the Investigation, however, it is expected that this amount will increase as the investigation proceeds.

Those arrested include are two Spaniards, two from Uruguay, an Argentinean, a Russian, and suspects from Croatia and Uruguay, aswell as the unnamed British man. The Investigation team have not ruled out further arrests at this stage, but it is believed that the ringleader of the network is one of the men held in custody.

A reported 4 properties were searched as part of the operation, including a Bar in Benidorm where officers seized more than 15,000 € in cash aswell as bank documentation, laptop computers and various incriminating records.

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The timeshare industry has been into the lion’s mouth for the last couple of years, and it has generated lots of controversy and discussions in many forums and blogs on the web. However, since we’re living an economic downturn, anyone would expect that the timeshare sales collapse, but instead of that the sales seem to be increasing… but this comes with a trap: timeshare scams are increasing too. That leads us to the question: then, why keep people investing on timeshares? http://www.timesharescam.com/

Ursula Rice - Sat, 2nd Aug 2014