Done Over?

Around 100 British families are taking a Spanish real-estate developer, as well as three ex-agents of a British agency, to court after having paid out in total over 4.5m euros for second homes in Estepona; homes that were never built.

The money was put up between 2005 and 2006, which clearly means the hopeful buyers have been waiting since then to see some building action, and when it finally dawned that they would see nothing, they began legal proceedings.

This type of thing is all too common here. The alleged fraud extends to luxury property movements in the Dominican Republic and Morocco, which means many others might have been duped, perhaps upwards of a thousand buyers.

A Madrid court has told Francisco Miranda and three ex-agents of Ocean View Properties to pay nearly 8m euros to cover the stolen funds. At least something’s being done. Often crooks get away scot-free.

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