Man arrested for 3 million Euro investment fraud in Fuengirola
A 41 year old man from Córdoba, A.J.C.D., has been arrested in Fuengirola for alleged fraud amounting to more than 3 million €.
El Mundo reports that he captured his clients by promising interest much higher than the normal rate on their investment, but failed to make any of the payments. He is reported to have gained their confidence by using the name and documentation of the Fuengirola branch of a nationwide insurance company, where it’s understood one of the suspect’s relatives was employed.
Police started their investigation after an official complaint which was presented in Málaga by a man who said he had been swindled out of 30,000 € in Fuengirola. The detainee is believed to have defrauded at least another 60 people.
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