Joint operation of the Tax Agency and the National Police

• To date, a total of 29 victims have been located who have allegedly suffered economic damages of more than two million euros, although the total amount defrauded amounts to more than 52 million.

• 12 searches were carried out in five homes and seven offices, in which 200,000 euros, four vehicles, more than 40 mobile phones, 12 high-end watches, computer equipment and 21 works of art and facsimiles, valued at more than 200,000 euros, were seized.

• 33 people have been arrested and charged with fraud, money laundering and membership in a criminal organization.

December 4, 2024.- Customs Surveillance officials from the Tax Agency, together with agents from the National Police, have dismantled a criminal organization, based in the Community of Madrid, specialized in scams using the 'financial chiringuito' method. To date, a total of 29 victims have been located who have allegedly suffered financial losses of more than two million euros, although the total amount defrauded amounts to more than 52 million.

Twelve searches were carried out in five homes and seven offices, in which 200,000 euros in cash, four vehicles, more than 40 mobile phones, 12 high-end watches, computer equipment and 21 works of art and facsimiles, valued at more than 200,000 euros, were seized. 33 people have been arrested and charged with fraud, money laundering and membership in a criminal organisation.

A total fraud of more than 52 million euros in seven years

The investigation began at the end of 2023, after receiving several complaints in which the victims stated that they had made a series of investments through an international broker and had lost all their capital without being able to recover it.

Once the investigation progressed, the investigators were able to determine the existence of a perfectly structured and hierarchical criminal organization. It was set up to commit fraud against individuals through offices known as 'financial scams', since they lack administrative authorisation to carry out this activity.

At the top was the head of the organisation, who was found to have defrauded more than 52 million euros between 2017 and 2024. In the middle echelon were those in charge of logistics and administration. The lowest level was made up of salespeople, responsible for recruiting victims from different call centres, which in some cases were their own homes.

Victims without investment knowledge

Client acquisition was aimed at people with no knowledge of the subject, a common element in all the victims to whom they sold the benefits of investing, supposedly, without any type of risk. But the most significant thing is that in no case were the investments made, since the true intention of the recruiters was for the victim to lose all their capital, which was distributed between the broker abroad and the members of the organization in Spain. So far, 29 victims have been located, who have allegedly suffered economic damages of more than two million euros, but it is not ruled out that more victims may be found.

Following the investigation, on 20 November five homes and seven offices located in Madrid, Rivas Vaciamadrid and San Sebastián de los Reyes were raided and searched, seizing 200,000 euros, four vehicles, more than 40 mobile phones, 12 high-end watches, computer equipment and 21 works of art and facsimiles, valued at more than 200,000 euros. Finally, 33 people were arrested and charged with fraud, money laundering and membership of a criminal organization, and were subsequently brought before the courts.