The Provincial Court of Madrid has sentenced a retired civil guard to six years in prison for establishing in 2010 a scam network of false loans that attracted investors, who never saw more than the amounts they lent or the high interest promised by the indicted.
In the sentence, dated June 30, Section 17 condemns Andrés LG as the perpetrator of a crime of aggravated fraud and imposes an indemnity that totals 3.31 million euros in damages to sixteen people .
In addition, the court acquitted his partner Silvia MD and local policeman Jesús ML, while the other local agent Francisco Javier HM, has also been acquitted after the indictment was dismissed against him before the hearing. The Prosecutor’s Office asked for six years in prison for each of them for being necessary cooperators.
However, the Chamber recalls that the judgment is not final and against it, an appeal for cassation can be filed within five days before the Criminal Chamber of the Supreme Court.
The judges consider proven that the condemned, after knowing in May of 2010 the comfortable economic situation of Juan MG, contacted him to gain his confidence with the intention that the second act as a lender in their business.
The defendant told him that it facilitated short-term loans with a high interest rate (up to 30%) to people in a serious situation of debt who, in this way, could face their debts and access the mortgage market. I knew these people because of their close relationship with the director of the Bancaja branch located in Collado Villalba (Madrid).
Thus, Juan delivered up to 1,951,000 euros to the defendant who would be returned within 30 days. However, Andrew never reimbursed him for the capital invested, under the pretext that he had given it in turn to a certain Eva, who had disappeared taking all the money and Juan had never come to see.
So credible it was to the victim the explanation that both filed a complaint that ended up being filed, “given the impossibility of finding out the real existence of the person denounced and even less to locate it if it exists”.
“The success obtained encouraged him to repeat the operation with other people, inadvertently serving him as propagandist Juan MG, until he ended up organizing a profitable pyramid structure, in which his clients functioned as new investors’ captors,” the statement said.
Andres always received those sums in cash and rarely paid his lenders the agreed interest but in most cases he managed to get them to accumulate capital and reinvest the total in a new operation.
Already in 2011, the defendant extended its activity through the towns of the mountains of Madrid and the capital, gaining the trust of the injured, who lost amounts ranging between 5,000 and 250,000 euros. Many made delivery of the money without requiring receipt or document proving the assignment.
On October 25, 2014, a court in Colmenar Viejo decreed the provisional imprisonment communicated and without bail of Andrés, who was located after issuing in this court a European and International arrest warrant
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