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The Unit Central Operating (UCO) of the Guardia Civilunder the direction of the Central Court of Instruction no. 1 of the National Audience, has developed a research about a criminal organization engaged in the perpetration of scams through the so-called “chiringuitos financieros”.
In the has been called Operation ALIBIhave made 4 records and have been arrest of 4 people in Barcelona as the supposed authors of a crime of belonging to a criminal organization and a scam.
With this operation, in which has collaborated the National Commission of the Market of Values (CNMV), has managed to put an end to a practice defraudatoria that began in Spain with the use of successive “chiringuitos financieros” and that would have resulted in a total of 472 victims in Spain with a stud swindled higher than 27 million euros.
The Research Group Financial the MAGAZINE of the Civil Guard supported this research in the year 2017at the request of the Judicial Authority, stating the modus operandi of this criminal organization, consisting in the manipulation of shares listed on mtfs, German, French, and austrians, conduct prohibited by the community Regulation of abuse of market (Regulation (EU) 596/2014).
The multilateral systems of trading, are trading venues with lower requirements for trading on the regulated markets. Although its creation is authorized by the National Supervisory Authorities of the securities markets, the greater part of the monitoring of the same is vested in the governing bodies of such centres.
Criminal organization based in Germany and Spain
The investigation revealed the existence of a complex criminal organization of an international characterbased mainly in Germany and Spain and with connections with other countries. The part of the criminal organization based in Germany would be charged with manipulating the shares of some companies listed on multilateral systems of trading in Germany, France and Austria which invested the victims.
On the other hand, the Spanish part of the criminal organization, through various “call centers” that were taking place at the time so as not to be detected, would be in charge of attract investors through techniques of telemarketing to, with fake information and after constant telephone contacts with promises of large profits, get the victims to invest in the values offered.
The victims had a false sense of security by the fact that the values cotizasen on multilateral systems of trading allowed, he should be contacted with them in the name of consulting firms located in foreign countries created ad hoc to pretend to solvency and that the investment is made through their own securities accounts.
Offering of securities
However, the criminal organization maintained artificially the value of the shares sold and now is the time, let it “fall” to the company and thus the value of their stocks, which caused the loss of the investment and, therefore, the consummation of the scam.
This was the time to replace this company by another new in which would invest the future victims. In total, throughout the research offered securities of 17 foreign companies, established in different countries.