Millionaire fraud case reaches court

The First Section of the Provincial Court of the Balearic Islands will begin to hear evidence from today, Monday, in the trial against three women accused of defrauding a couple by inventing a millionaire inheritance.

According to the prosecutor’s brief, the events date back to May 2012, when one of the defendants, a friend of the victim, acted in agreement with the other two defendants to deceive the victims.

The Prosecutor’s Office maintains that the three invented a false story by which one of the defendants had received a million-euro inheritance from Germany, which needed to obtain funds to be processed. Thus, another defendant pretended to lend said funds under the condition of having a mortgage guarantee and under the false promise of paying the victims a bonus of 35,000 euro for mediating in the operation and appearing as borrowers.

To do this, says the prosecutor, they had to offer a farm they owned as collateral. Finally, the defendants managed to convince the couple and on October 8, 2012, they formalised the loan contract with a mortgage guarantee on the property owned by the couple before a notary in Palma, declaring that they had received 84,000 euro in cash from one of the defendants, which they had to pay back within three months.

In addition, they also agreed on the possibility of extrajudicial execution of the credit granted upon maturity and set the appraisal value of the property at 90,000 euro, although the real value was much higher (454,513 euro), according to the brief.

That same day, one of the defendants signed a debt acknowledgment deed of 85,000 euro with the couple at the same notary, pretending to assume the commitment to repay the loan and committing to repay it on January 8, 2013.

Once the expiration date of the loan arrived, continues the Prosecutor’s Office, no one paid the amount owed, the credit was executed out of court and the property was awarded on November 6, 2013, to one of the defendants after an auction for a value of 63,000 euro.

The Public Ministry considers the facts constituting a crime of fraud and asks for each of the accused six years in jail and 6,000 euro as a fine. Likewise, it is interested in the restitution of the property to its legitimate owners or compensation to them for a value of 454,513 euro.

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