400,000 mainly small investors in Spain had put their money in stamps, through programmes marketed by two companies, Afinsa and Forum.
With today being the second anniversary of Spain's biggest stamp scandal, it has emerged that the Spanish authorities have requested the cooperation of Gibraltar, via Interpol, to try and establish a possible Gibraltar link.
Over 400,000 mainly small investors in Spain had put their money in stamps, through programmes marketed by two companies, Afinsa and Forum. But, in total, they ended up losing 6 billion euros.Spanish police suspect that the ex directors of the two firms may have diverted money through a number of countries, including Gibraltar. They simulated the purchase and sale of stamps, but values were exaggerated artificially. The other countries mentioned include Andorra, Germany, Italy, Canada and the British Virgin Islands.It is also believed that there were cases of property corruption and money laundering on the Costa del Sol by those implicated.But progress has been slow on the judicial front. The traditional slowness of the Spanish justice system was worsened by a strike of officials.
Many of the investors affected keep asking why progress has been so slow and are demanding that something be done to enable them regain their savings and investments.
Over 400,000 mainly small investors in Spain had put their money in stamps, through programmes marketed by two companies, Afinsa and Forum. But, in total, they ended up losing 6 billion euros.Spanish police suspect that the ex directors of the two firms may have diverted money through a number of countries, including Gibraltar. They simulated the purchase and sale of stamps, but values were exaggerated artificially. The other countries mentioned include Andorra, Germany, Italy, Canada and the British Virgin Islands.It is also believed that there were cases of property corruption and money laundering on the Costa del Sol by those implicated.But progress has been slow on the judicial front. The traditional slowness of the Spanish justice system was worsened by a strike of officials.
Many of the investors affected keep asking why progress has been so slow and are demanding that something be done to enable them regain their savings and investments.
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