News broke that up to 36 Brits have been arrested in Spain, following their alleged participation in a scam which resulted in 500 people losing an estimated £15million. Many of the victims are believed to be from the UK and most paid between £500.00 and £2,700.00 to the company based in Malaga.
Police confirmed to another source that the suspects are said to have been using fictional information when approaching customers and offering them a holiday package, whilst also trying to sell their existing timeshares to other possible buyers. The timeshare owners were asked for a deposit and, once the deposit was paid, the clients would pay the remainder of the fees.
Many timeshare owners are unhappy with being sold timeshares originally and this was presented to them as a possible route out of owning their timeshare. Unfortunately, timeshare owners began to see that their timeshares were not being sold, as their sales did not complete, and were left wondering what they had paid for.
Raids at the company’s head office took place after a lawyer filed a complaint with the Spanish police force. This particular lawyer was said to have been representing 33 of the victims of this case. Items seized by the Spanish police force are said to be a Yacht, designer clothing, vehicles, including a Ferrari, and over £100,000.00 in cash
This led to 36 people involved being arrested. If you feel that you have been a victim of such circumstances or would like advice on how to exit your timeshare contact please contact us.
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