A criminal network involved in the fraudulent appropriation and sale of properties has been dismantled in Tenerife by the National Police. The operation resulted in the arrest of 19 people, two of whom have been remanded in custody.
The investigation led to the seizure of falsified documents, electronic devices, and 40.77 kilograms of hashish, and was conducted in collaboration with the Territorial Management of the Land Registry in Santa Cruz de Tenerife.
An investigation was initiated following complaints from several victims who reported the fraudulent occupation of their homes by squatters. The suspects allegedly changed locks and presented forged documents at notary offices to simulate property sales, successfully registering ownership in their names before selling the properties to unsuspecting third parties.
The criminal organisation targeted abandoned properties or homes owned by elderly people, deceased persons, or absentee landlords. With the help of intermediaries experienced in the real estate sector, they arranged fraudulent sales at notary offices, creating a chain of transactions that made the fraud difficult to detect.
Appearance of Legality
To lend an air of legitimacy to their operations, the group paid people to act as buyers or sellers. These individuals would testify before notaries, claiming to have paid for the properties in cash without providing proof of payment.
Using these fraudulent documents, the organisation was able to register properties in the Land Registry and proceed with their sale.
Extent and Value of the Fraud
Investigators confirmed that the criminal group unlawfully registered 18 properties across Tenerife, including a luxury villa in an exclusive area of Santa Cruz.
In one instance, the organisation attempted to register the sale of a property for €120,000, despite its official cadastral value standing at €1.3 million. The total estimated value of the fraud is more than €2.8 million.
Police Operation and Seizures
In February, a coordinated police operation was conducted, involving eight simultaneous searches in various locations, including Santa Cruz, La Laguna, Arico, Granadilla, and Güímar.
During the searches, authorities seized key documents, electronic devices, 40.77 kilograms of hashish packed for distribution, and a precision scale used for weighing drugs. The detained suspects were brought before a judge, who ordered the imprisonment of two of the individuals.
The National Police remains committed to combating organised crime and is continuing its investigations to determine potential links between real estate companies and this criminal network. The goal is to prevent further fraudulent activities and protect prospective property buyers from falling victim to similar scams.
