President of Valencia FC loses 1 million Euros in property swindle

Vicente Soriano, President of Valencia FC, has lost 1 million Euros in a property swindle, the Spanish press reports.

Just over 6 months ago, Soriano agreed to buy a property in Valencia’s Calle de Colón for 6 million Euros, paying a deposit of 1 million Euros to secure the purchase. Unfortunately for Soriano, the vendor was an impostor using fake documentation, and not the true vendor, who had no idea what was going on.

Spanish police arrested the fraudster – a 71 year old resident of Valencia – and two accomplices on Monday, but so far no sign of the money.

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About Mark Stücklin

Mark Stücklin is a Barcelona-based property market analyst and consultant, and author of the 'Spanish Property Doctor' column in the Sunday Times (2005 - 2008). He can be reached by email on ms@spanishpropertyinsight.com.