CEO of fraud company knew nothing of the scam

 CEO of fraud company knew nothing of the scam

At least 50 million euros – this is the amount that investigators estimate to have been involved in the multi-million fraud that led to last Wednesday’s police operation in Mallorca. The figurehead for this fraud on the island was a foreign citizen who is unwell, was paid 1,000 euros per month to act as the CEO of a supposedly large international investment company, and knew practically nothing (if anything) about what was going on.

He lives in the Gomila district of Palma. His was one of the properties raided and searched on Wednesday. He is one of a number of people under investigation, but police believe he was unaware of the fraud. Apart from the 1,000 euros a month, it is doubtful that he was a beneficiary. During the search of his property only some 200 euros were found. Moreover, his passport expired three years ago, he didn’t use email and he had no bank cards. A businessman who would apparently have been travelling every…

Read full article…www.majorcadailybulletin.com