A real estate scam worth millions in the Algarve has been uncovered, involving an estate agent with dual Portuguese and German nationality and four lawyers. The scam, which operated through "formally valid but false" purchase and sale contracts, deceived over thirty individuals. The estate agent was active since mid-2022 in the Barlavento Algarvio region, covering the municipalities of Portimão, Lagos, and Lagoa. The involvement of four lawyers lent the illegal operations an "appearance of legality". All five individuals have been detained and are set to appear before a judge.
Público•12 hours ago•
880
Multi-Million Euro Real Estate Scam in Algarve Involves Estate Agent and Four Lawyers - Publico
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Summary:
Real estate scam in Algarve involved an estate agent and four lawyers
Scam operated through false purchase and sale contracts
Over thirty victims deceived in the Barlavento Algarvio region
Estate agent had dual Portuguese and German nationality
All five suspects detained and to appear before a judge
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