Spanish Authorities Announce 260 Million Euro Fraud

Investment Fraud Worth Hundreds of Millions of Euros in Spain

Spanish authorities have arrested an individual allegedly involved in an international investment fraud valued at 260 million euros (approximately 300 million dollars) known as Madeira Invest Club. This Ponzi scheme attracted over 3,000 victims by offering guaranteed returns through contracts linked to various assets.

Authorities indicate that the process was not based on any real economic activity. Investigations conducted in cooperation with Europol and international law enforcement revealed a complex network of shell companies and bank accounts spread across at least 10 countries.