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olive press The original and only English-language investigative newspaper in Andalucía
the
FREE
Vol. 8 Issue 182
www.theolivepress.es
March 5 - March 19 2014
BLING: Fraudster flaunts his €965 Louboutin slippers and luxury watches
ARMED: A number of guns were seized in the raids
Police arrest 75 Britons in 14 boiler rooms in biggest international fraud operation ever
CLAMPDOWN
A BRITISH graduate has been arrested in Europe’s biggest ever anti-fraud operation. The expat, in his early forties, is one of the ringleaders of a gang who defrauded thousands of victims around the world. The lynchpin, who cannot be named for legal reasons, is one of the 84 people, mostly Britons, who were arrested in boiler rooms around Spain. A further 26 were detained in the UK, Florida and Serbia. Police shut down an incredible 17 boiler rooms - so called because of the cramped conditions the con artists operate out of. In the series of coordinated raids - undertaken by 300 police officers from the UK and Spain - a huge stash of guns, cash and expensive jewellery was seized.
By Tom Powell
Dubbed ‘Operation Rico’, the joint operation between City of London Police and Spain’s national force targeted top level bosses in an attempt to ‘decimate’ criminal rings after two years of planning.
Ferrari
In several large scale raids in Marbella, police seized cars including an Aston Martin DB convertible, a Ford Mustang and a Ferrari Spyder. Detectives also found designer watches, jewellery and bundles of notes worth €550,000. In one rented Puerto Banus home, allegedly costing €40,000 a month, police seized a photo of the conman’s €965 Christian
Louboutin slippers, with two diamond encrusted watches strapped to them. So far around 13 of those arrested in Spain have been bailed – one for €10,000 – while 11 of the ‘more senior staff’ are being held in prison. Most of those arrested were held on suspicion of money laundering and fraud offences, specifically where investors are tricked into buying shares that are either worthless or non-existent. The alleged ringleader, who
studied English Literature at university in the 1990s, has been refused bail. Staff at his office told the Olive Press this week that he had not been seen since last week and they could ‘not confirm’ if he would ‘ever be coming back’. They evaded all further questions, apart from saying ‘you should talk to his lawyer’. However, they refused to give a number and the mobile number offered has also been constantly switched off.
Royal send-off Thousands braved the rain to attend the funeral of Andalucia’s most famous musical son Paco de Lucia in Algeciras See Plucking the heart strings on page 17
While the firm is listed as a member of the British Chamber of Commerce, according to a spokesman he has not attended any meetings since 2012. Intriguingly one of the company’s websites was closed down yesterday, while it emerges that its Twitter acount is a ‘follower’ of Nigel Goldman, Marbella’s very own infamous conman. The boiler rooms were based Continues on Page 2
Earpiece Don’t let the Don’t let thein banks cash new size banks cash in 39mm www.hifx.co.uk www.hifx.co.uk xsee 50mm page 13 see page 13
Tel. 951 203 986
Marbella mayor facing resignation threat By Imogen Calderwood
THE Mayor of Marbella is in hot water over an alleged failure to declare a €3.1 million investment abroad. The town’s socialist party is demanding an ‘immediate explanation’ about the 2010 investment her company made in a Luxembourg bank. It comes after it emerged that Angeles Munoz (above) and her Swedish husband, Lars Broberg, took out an equity release mortgage worth €3.1million with Nordea bank in 2010.
Undeclared
Now concerns have been raised by a group of equity release victims, who have lost millions of euros to the bank. The group Equity Release Victims Association (ERVA) claims money given to her and Broberg’s company, Crasel Panoramica, was kept in Luxembourg where it was invested in a life insurance policy. It is alleged that Munoz never declared this in her statement of assets when taking up office in 2011, as she was supposed to do. A spokesman for the association, lawyer Antonio Flores said: “We have found this evidence and it needs to be explained. It is about political wrongdoing.” Spokesman for the PSOE Jose Bernal has demanded immediate clarification over the investment, questioning whether she could afford it. Continues on Page 2