By Euro Weekly News Media • 01 April 2013 • 12:43
BOILER ROOM: Scam operated from Benidorm
A BOILER-ROOM gang which operated from Benidorm and scammed people in four countries has been dismantled and eight people arrested.
National Police report that they had stolen up to €300,000 from people in Germany, Austria, Slovenia and Holland since 2007.
Arrests took place in Benidorm and Denia, as well as Austria, Germany and Slovenia.
The gang, using false names and companies, offered fake financial investments over the phone to their victims at very attractive rates.
The salesmen get as much money out of victims as possible before ceasing all communication. The money was paid into bank accounts in Spain and then transferred to other accounts.
The investigation began following the report of an Austrian woman who was the victim of fraud. National Police believe that more victims of the scam could still come forward and that the amount made by the gang may be as high as €10 million.
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