Calls for Afinsa directors to spend 19 years in jail for fraud

WITH over 190,000 investors being duped out of their money, this week prosecutors have called for prison sentences of up to 19 years for directors of the company together with compensation of over €2.5 billion.
One of the largest investment frauds in Spain of recent years was allegedly perpetrated by the company Afinsa, which persuaded tens of thousands of people to invest their savings in ´managed´ portfolios of postage stamps.
Like most of these so called ´Ponzi schemes´, which rely upon paying profits from new investments, or, as in this case, artificially inflating the so-called value of the stamps involved, everything crashed almost overnight.