Costa cops raid ‘£15m timeshare scammers’
British ‘ringleader’ is named
A BRITISH businessman has been accused of masterminding a £15million timeshare scam on the Costa del Sol.
Howard Manton was arrested with 35 others – mostly Brits – after Spanish police claimed to have “smashed” a major fraud syndicate.
Detectives are aware of at least 500 victims but believe that number could rise dramatically.
Spain’s National Police said in a statement yesterday: “The suspects contacted potential victims, all timeshare owners and all British, and offered them the possibility of acquiring a holiday package as well as selling their timeshare to other possible buyers.
“To start the ball rolling, and buy or sell the holiday package, they would ask their victims for a sum of money termed a deposit.
“After reaching agreement with the victims, they would dupe them into making bank transfers. They realised after the sale or purchase didn’t go through they had been duped.”
As part of the operation – codenamed Manta – police conducted raids at properties across the coastal city of Velez-Malaga, east of Malaga.
Officers seized more than £100,000 in cash, 10 designer watches, gemstones, a yacht and seven
PROBE Spanish cop counts cash seized in raids vehicles – including a Ferrari. Investigators are probing whether the homes and luxury goods could have been bought with proceeds of crime.
Manton, who is believed to be in his 50s, has been linked to bogus timeshare resale firms in the past by watchdog The Mindtimeshare Association. His wife, son and daughter-in-law are understood to work for the family business and were also arrested. Two lawyers accused of money-laundering were also held.
Police did not name any of the suspects at yesterday’s press conference. All were remanded in custody after appearing before a judge.
Manton was told he would be bailed if he paid 20,000 euros – £17,550. It was unclear last night if he paid.
Police said the arrests were carried out after a lawyer for 33 people filed a formal complaint. It is understood each victim paid between £550 and £2,700 to the gang.
But the total alleged fraud is expected to come to £15million as police reckon “hundreds more” people were conned.
Police said: “National Police officers have smashed a criminal organisation based in the province of Malaga specialising in timeshare fraud. Thirty-six people have been arrested, and another placed under formal investigation.”