Apparently, taking advantage of their friendship he convinced victim to trust him to look after her life’s savings, some 120,000 euros. With this money he was to invest in an insurance scheme that would yield high interest after a period of five years.
And that’s what he did, accept for the fact that he put his name down as the policy owner instead of hers, according to the Public Prosecutor, who is recommending a 3-year sentence for fraud and a fine of six euros a day for nine months.
The alleged scheme to obtain the victim’s savings began to take shape in July 2007 in Motril, which is where the accused and victim are from. When the five years was up, not only did the victim not receive the promised earnings from interest, but she also never received back the capital… nor any explanations from the accused.
In reality the man had begun to withdraw the capital from the scheme for his own use; 40,000 euros in October 2008, just over a year after depositing it. This was followed by another 40,000 in December that same year, and then finally the remaining 40,000 in February 2010.
By the time that you are reading this, he will have been tried and we will be awaiting the court’s findings – let’s see!
(News: Motril, Costa Tropical, Granada, Andalucia)