The Provincial Court of Santa Cruz de Tenerife will hear a case today, Tuesday, involving a real estate advisor accused of defrauding three companies in a scheme for the sale of 30 apartments.
Prosecutors are seeking a four-year prison sentence for the defendant, alleging she accepted payments for properties she had no legal rights to sell.
According to the indictment, the accused capitalised on her reputable standing in the real estate industry to gain the trust of three companies. She reportedly used her track record of successful past transactions to convince the businesses to enter into a contract for the purchase of 30 apartments in a residential complex.
The alleged scheme involved offering each company ten apartments at €47,000, with the total purchase price amounting to €470,000 per company. As part of the deal, the companies signed a preliminary contract (contrato de arras) and paid €47,000 each as an initial deposit.
Payments with No Promise of Delivery
Prosecutors allege that the advisor knowingly accepted a total of €141,000 for three apartments despite being fully aware that she lacked any legal rights to complete the transactions. The indictment describes this as a calculated act of deception.
Legal Consequences
The Public Prosecutor’s Office has classified the case as aggravated fraud and is requesting:
While this case highlights fraud in the real estate sector, it also comes amid a heightened focus on legal and ethical accountability in the Canary Islands. High-profile cases, such as those involving allegations of judicial misconduct and media suppression, underline the region’s ongoing efforts to uphold justice and transparency.
