A fraud case that reads like a script straight out of a movie. An alleged scammer with apparent financial solidity pursued a reserved hotel room for a planned meeting with the victim. The deception allowed the injured party to surrender three luxury watches valued at 135,000 euros, with no payment delivered afterwards. A man was arrested in Valencia on suspicion of fraud as he attempted to flee the country, and a second suspect remains at large and is being sought by the police.
National Police officers detained a 31-year-old Italian man after he allegedly misled another person into selling three high-end watches for 135,000 euros. The inquiry began when the victim filed a report with the prosecutor’s office, triggering actions from the Office of Complaints and Citizen Services at the Alicante Provincial Police Station. The victim stated he had been defrauded by two individuals in the sale of his three luxury watches.
The victim explained that the suspects convinced him they would purchase the watches for 135,000 euros, with 125,000 euros to be paid via bank transfer and the remaining 10,000 euros in cash. The victim delivered the watches but never received the agreed payment. Investigators canceled the transfer before it could go through, and counterfeit cash replaced the real money without the victim realizing it.
To make the scam more credible, the suspects arranged to meet at a hotel’s reserved room in Valencia, using the impression of high purchasing power to persuade the victim that the deal would go ahead.
Economic and Financial Crime Group agents with the Alicante Provincial Police Station launched the investigation to identify and locate the perpetrators. After extensive police work, authorities were able to identify one of the suspects and began a search to apprehend him.
Image shows money seized by Alicante Police during the investigation. Information
Only upon locating the suspect at Valencia Airport did officers arrest him for the alleged crime of fraud. The other perpetrator has not yet been identified, and police continue the inquiry to locate and detain him for the same alleged offenses.
The detainee is a 31-year-old Italian national with prior fraud records and has been placed at the disposal of the Quart de Poblet Investigation Court.
modus operandi
The operation used by the scammers, often referred to as the “Rip Deal,” involves portraying the perpetrator as a person with significant buying power to entice victims into exchanging valuables such as watches and jewelry. The final step involves the supposed payment via a bank transfer, which is in reality canceled by the scammer as the exchange occurs, leaving the victim without funds.
To heighten credibility, the fraudsters also display a large amount of cash during the exchange. The cash funds presented are usually counterfeit, simple and crude copies of real banknotes, placed to obfuscate the true payment arrangement and pressure the victim into a quick settlement.