The National Police have arrested seven people for financial fraud against more than 150 foreign victims, mostly pensioners. The detainees belonged to an organisation dedicated to scams related to timeshare and membership of holiday clubs, valued at more than 1.8 million euros.  

After two years of investigation and different house and business searches in Malaga, Fuengirola, Marbella, Estepona and Mijas Costa, the so-called Black Holidays operation ended last March with the arrest of these people and the freezing of more than 2.5 million euros in bank accounts. 

Apparently, the network had set up a corporate network disguised as leisure and free time activities, defrauding 155 foreigners, who were recruited at congresses organised by those under investigation. 

At these meetings, the victims were offered false offers of timeshare rights and holiday club memberships, which allegedly involved the commitment to repay the initial fees paid. As the months went by, the clients realised that these offers were non-existent, so they decided to file a collective complaint reporting the facts. 

Corporate scheme

The investigations led to the uncovering of a complex corporate scheme, designed from countries such as Great Britain, Spain and non-cooperative jurisdictions for tax purposes, all with the intention of concealing and obscuring the traceability of the defrauded money. The case has been transferred to the Central Court of Instruction number 1 of the Audiencia Nacional. 

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