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Spanish authorities arrest 25 timeshare owners |
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Written by TSD Staff
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Spanish authorities have arrested 25 people on charges of fraudulent timeshare practices.
The arrested individuals are suspected of conning German timeshare owners that own property in the Canary Islands.
According to the local authorities, the suspects contact timeshare owners, offer them lucrative terms to sell their timeshares, and trick them into paying non-existent taxes and transfer fees to get the transaction done.
After paying the initial fees, the timeshare owners never heard from the resale agents again.
Local investigators coordinated with the German Embassy in Madrid to identify suspects on Tenerife Island.
Last week, the Spanish authorities arrested 23 German suspects, one Polish, and one Swiss.
If the suspects are convicted, they could face up to six years imprisonment.
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