Algarve Real Estate Scam: Five Women Arrested in "Turnkey" Operation
The Polícia Judiciária (PJ) has detained five women in the Algarve as part of the "Chave na Mão" (Turnkey) operation, on suspicions of qualified fraud, document forgery, and money laundering in the real estate sector.
Targeting Foreign Investors
The criminal activity primarily targeted foreign investors, resulting in losses exceeding seven million euros. The suspects allegedly signed promissory contracts for the sale of properties through notary offices in the Algarve or via authenticated documents—without the knowledge or involvement of the actual property owners. This tactic reinforced the victims' belief in the legitimacy of the transactions.
Victims Lost Over a Million Euros
Some victims handed over amounts exceeding one million euros as down payments, which the suspect then misappropriated. Authorities conducted seven searches—three residential and four in notary offices—seizing documents, IT equipment, cash, and jewelry.
Ongoing Investigations
The PJ acknowledges there may be more victims, with new suspicious transactions and recent complaints involving sums over 2.7 million euros under investigation. The detained women will face court for the application of coercive measures.
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