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WHERE IS THE 50 MILLION EUROS?
Sally Bengtsson / 2010-01-22 14:31:15
Two of the representatives for the financial institution which managed the finances of the Trampolín Hills urbanisation in Campos del Rio, Murica, are behind bars. Both José Manuel Mosquera and José Antonio Alarcón represented Swiss Finantial Corporation S.L.
A third man, Enrique Martín, was arrested but has been released on bail.
Mosquera and Alarcón were arrested last December in Madrid by agents of Murcia’s Guardia Civil. They were ordered to prison by the judge at Mula law courts, who is responsible for the case. The business didn’t have official authorisation to operate. It was formed in Panama and has changed headquarters on numerous occasions, presumably to make it harder to locate them.
Trampolin Hills contracted the services of this business to guarantee the money paid by the buyers for homes in the urbanisation. The plan was to build 2,500 houses and a golf course. Antonio Martínez and Rafael Aguilera, the urbanisation managers, already face charges for fraud.
It is believed the first houses were sold in March 2005, before the building permits were even granted. The land was still classified as rural at this time.
Despite all this Trampolin Hills was widely advertised through the internet and by estate agents in Spain, UK and Ireland. Almost 1,500 people paid deposits for their “dream homes”, some paying up to 120,000 euros. Altogether 50 million euros were paid. However, five years later, the homes have not been built, and a judge has placed a 30 million euro fine on those responsible for this chaos.
The money was originally deposited in an account in La Caixa, then later Swiss Finantial were contracted to take care of the finances. The 50 million euros has not yet been located, which is why this fictitious Swiss company must now face the music.
Tags: Trampolin Hills
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