[REVISION HISTORY]

Real estate and financial fraud investigations in Spain

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2026-10-18 15:21 UTC → 2026-10-19 08:46 UTC · added ~~removed~~

Spanish authorities have dismantled two separate criminal operations involving real estate fraud and counterfeit currency. In late September, the Spanish National Police conducted ‘Operation CUCO’ in Cádiz, dismantling a network that used stolen identities to lease properties and then fraudulently sell them using forged notary powers. Three individuals were arrested in the Seville area for charges including fraud, identity theft, and membership in a criminal organization. In October, a coordinated sting operation named ‘Operation Castillo’ disrupted a large-scale ‘rip deal’ attempt targeting an Austrian entrepreneur attempting to sell a luxury villa in Marbella. The scheme involved suspects posing as a Swiss real estate consortium who attempted to arrange a €1.8 million cash payment in Marbella while simultaneously requesting a €300,000 commission in gold coins in Vienna. The operation, involving the Spanish Policía Nacional, Austrian police, and Europol, resulted in simultaneous raids on October 6. Three suspects, identified as members of a specialized clan with numerous prior convictions across several EU countries, were arrested in Vienna and Marbella. Authorities seized approximately €2.1 million in counterfeit Euro banknotes, marking what is noted as the largest successful sting of its kind in the history of the Austrian criminal police. The group reportedly intended to use the transaction to introduce large quantities of fake currency into the economy.

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