A well-known Minorcan businessman is facing a raft of charges after allegedly using family links to a Real Madrid basketball player to cheat people out of hundreds of thousands of euros.
The defendant allegedly asked his business partners for 200,000 euros under the false pretext of investing in hotels in Mallorca, Minorca and the United States.
To convince them to give him the money, he allegedly argued that the investments were made through a Hospitality company in conjunction with a well known international basketball player and top-level businessmen from the Balearic Islands.
The defendant also reportedly told them his investment partners were trusted, important people with experience in the Hospitality Industry and Construction Sector, who were interested in raising capital to develop a series of projects.
Between 2017 and 2019 the Minorcan hotelier allegedly scammed more than 200,000 euros for investment projects that never materialised, including hotels in Miami and Philadelphia, a block of luxury offices and buildings in New York, a well-known hotel in Orient, Mallorca and a percentage of the operating company of another hotel in Minorca.
The alleged crime was uncovered when one of the investors became suspicious of the defendant’s high standard of living and asked to see the accounts.
They were surprised to find out that none of the investments had been made and the accused had kept the money.
The defendant has been charged with fraud, misappropriation, falsification of documents and corporate crimes. He has reportedly returned some of the money.