Cádiz police dismantle real estate fraud network

Spanish National Police have dismantled a criminal organization in Cádiz through an operation known as CUCO. The group specialized in a sophisticated real estate fraud scheme involving the rental and subsequent fraudulent sale of properties.

The criminals would identify rental properties in the Cádiz province and secure leases using stolen identities. Once they gained access to the homes, they targeted real estate companies by offering the properties at competitive prices to avoid suspicion.

A key component of the scheme involved obtaining fraudulent notary powers through the use of forged documents and identity theft, allowing the group to sell the properties without the knowledge or consent of the legitimate owners. The proceeds from these sales were then transferred to bank accounts opened with stolen identities to facilitate rapid withdrawals.

Three individuals have been arrested in the Seville areas of Dos Hermanas, Los Palacios, and Villafranca. The suspects face charges including fraud, document forgery, identity theft, and membership in a criminal organization.