Eight of the ten accused in a mortgage scheme in Cantabria have reached an agreement with the Prosecutor's Office and will see their prison sentences halved.
Eight of the ten accused in an alleged real estate scheme in Cantabria have reached an agreement with the Prosecutor's Office and will have their prison sentences reduced by half. This was reported by La Razón, which informs of the agreement reached at the beginning of the trial in the Provincial Court of Cantabria.
According to the prosecution, the defendants purchased homes with fraudulently obtained mortgage loans, inflated the prices of the properties, rented them out, and stopped paying the installments after a few months. The operations affected flats in Colindres, Laredo, and Castro Urdiales. The hearing will continue until early November.
With the agreement, three buyers go from facing a request for six years in prison to a sentence of three years. The other five, for whom the Prosecutor's Office requested five years, will receive two years. The remaining two defendants have not reached an agreement: the alleged ringleader, for whom ten years in prison is sought, and her son, with a request for four years.
The Prosecutor's Office describes a woman who presented herself as a real estate intermediary and led the alleged organisation, with the help of her son. The prosecution attributes twelve real estate operations to her, which would have generated 1.3 million euros and seven personal loans for 194,000 euros. The facts fall under aggravated fraud, forgery, and receiving stolen goods. For the alleged main perpetrator, the Prosecutor's Office also requests a fine of 8,640 euros and fifteen years of disqualification from real estate and financial intermediation.
The eight buyers who have reached an agreement agreed that the woman managed almost all the procedures: they provided her with the documentation while she negotiated with the sellers and the banks. They only went to sign before a notary. According to their statements, they received between 1,000 and 3,500 euros in cash for participating in the purchases.
“Sign here and sign here,” one of the accused recounted while describing how the operations were carried out.
The same accused acknowledged that she never received rent for the property she bought using this method. The buyers explained that in 2017 and 2018 they were facing economic difficulties, and some were unemployed.
During the hearing, six witnesses who sold their flats through the same real estate agency also testified. One of the sellers discovered, after signing, that the deed reflected a higher amount than she had received, and she filed a complaint.
The trial continues with new sessions in the Provincial Court of Cantabria. During the process, the situation of the two defendants who have not reached an agreement must be resolved, while the eight buyers benefit from the reduction agreed with the Prosecutor's Office.
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