Financial Manager Swindled 25k from Seville Couple

A SEVILLE financial advisor has admitted to charges of swindling a struggling married couple under the pretense of ‘washing’ their accounts so they could buy a home.

Maria Auxilidora was given a nine-month sentence, which is suspended as long as she repays the victims their 25 thousand euro on time. In September 2006, she was approached by a married couple who wanted to buy a home in Seville despite their financial difficulties.

According to court documents, the advisor told them ‘of the plan she had designed’ to contact different investors lending to them in order to ‘wash their image’ of financial problems. She told them that this would make them seem trustworthy for mortgage loans from financial institutions.

Believing she was ‘professional in the financial sector’, the couple ‘did not hesitate to follow the guidelines she was giving them’. This included asking their solider son to withdraw a personal loan, as well as buying a home to sell on rapidly in order to create the illusion of financial stability. The couple was told this would help them ‘to gain the confidence of the financial institutions so it would grant them the financing necessary for purchase’.

The couple had unwittingly purchased two properties belonging to the advisor’s parents, which ended up losing them 25k to the benefit of Auxilidora’s family. The Seville court ruled that the defendant will not be placed in prison unless they re-offend or fail to repay the losses of both victims.

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