Spain's National Police has dismantled a group in Málaga accused of renting tourist apartments for a single day and then offering them, as if they owned them, to people looking for a long-term home. According to the police, as reported by Criptoinforme citing EFE and other local media, there are around 20 victims and roughly €150,000 defrauded so far. Seven people have been arrested and three more are under investigation for criminal organisation, fraud and money laundering.
How it worked. The group allegedly found holiday lets on rental portals and messaging groups, booked them for one day and advertised them as long-term rentals. Victims visited the flat believing they were dealing with the owner or an authorised agent, and paid the booking fee and deposit upfront via Bizum or bank transfer. According to local outlet 101TV, the suspects used fake lease contracts. Sometimes the same flat was offered to several people on the same day.
Roles in the group. Police say the alleged ringleader operated from Thailand, planning operations, posting ads, recruiting collaborators in Spain and using countless phone lines to avoid being located. A coordinator in Spain handled field tasks, collected the money, moved it to Benalmádena and handed over keys. Two lower-level members showed the flats as if they were theirs, and another suspect received cash in Benalmádena and converted it into crypto assets.
From Bizum to crypto. According to the police account, payments passed through a network of bank accounts before being collected and converted into cryptocurrency, while the ringleader was allegedly trading crypto to launder the proceeds. Victims never paid in crypto; it appeared only at the end to move the money. Police have not said how much of the €150,000 was converted, or through which service.
Why it matters
A common scam, faster laundering. Fake rental fraud is widespread, but this case shows how quickly a deposit sent by instant payment can leave the banking system. The investigation began with several complaints filed at a Málaga police station, and officers later thwarted new attempts when other prospective tenants arrived to view flats. The case is being handled by a Málaga investigating court, and police do not rule out more victims. It is not clear whether the alleged ringleader is among those arrested.
Red flags and what to do, according to Criptoinforme:
- Be wary of anyone asking for a booking fee and deposit upfront before you sign a verifiable contract.
- Ask for proof of ownership and check the owner's name against the property registry.
- Check whether the flat is also listed as a holiday rental.
- Watch for changing phone numbers, other viewers the same day or pressure to pay quickly.
- If you have paid, keep all evidence, contact your bank quickly and report it to the police.
- Distrust anyone offering to recover your money for a fee.
Source: Criptoinforme
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