Prison for developer who took money from families
This Spanish News Item in English was published on : Thursday, May 15, 2008 (ID:3042) |
The Malaga Provincial Court has sentenced a developer to one year and six months in prison for taking money from 58 families for flats that were never built. He has also been ordered to return the money paid by the off-plan buyers.
The case dates back to 1989 when the developer was granted planning permission for 150 apartments in the Los Manantiales area.
The fee for the licence however was never paid. Between April 1990 and May 1991 the developer sold 58 of the properties, the majority to first time buyers who paid cash deposits and signed a contract to make the rest of the payments over a certain time period, however the insurance policies to protect the money paid by some of the buyers were never formalised.
Meanwhile the builders started work to level the land and lay the foundations but stopped when they were not paid.
Torremolinos Town Hall officially stopped work in December 1991 when it was confirmed that there was no valid licence. |
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