Massive €146 million fraud investigation in Mallorca

A huge multi-national operation involving Spanish, German and Polish authorities has uncovered a fraudulent scheme that targeted German citizens.

The international effort, led by the Guardia Civil alongside German and European authorities, has dismantled a significant fraud scheme, arresting two individuals accused of embezzling €146 million from over 4,200 German nationals.

This operation, dubbed ‘Kruger,’ spanned Capdepera in Mallorca, Germany, and Poland, and involved 26 searches.

The mastermind behind this extensive fraud was captured in Germany, but it’s Mallorca’s connection that has drawn significant attention.

Authorities in the Balearic Islands played a crucial role in carrying out six searches. Investigators uncovered crucial evidence including a wealth of documentation, a firearm, digital storage devices, jewellery and luxury watches in the raided homes and offices.

The fraud centred around a consumer cooperative offering enticing interest rates on shares and various benefits, which turned out to be a front for moving funds to companies of questionable liquidity and a network of Spanish companies connected to the perpetrators.

This operation not only highlights the global reach of financial crimes but also underscores Mallorca’s strategic importance in such investigations.

Directed by the Balearic Islands International Judicial Cooperation Prosecutor’s Office, this crackdown sends a strong message about the island’s commitment to fighting international fraud.

With the operation led by various prestigious agencies, including the Italian Anti-Mafia Investigative Direzione and coordinated by Europol, it’s a testament to the collaborative effort in tackling cross-border crime.

The community’s reaction has been one of shock and relief, as the details of this elaborate scheme come to light, proving once again that Mallorca is a key player in global law enforcement efforts.