Santa Cruz Woman Arrested for Selling Fake Insurance Policies, Defrauding 50 Victims

Police have arrested a 40-year-old woman in Santa Cruz de Tenerife on suspicion of forging documents and defrauding people by selling them fake insurance policies.

The investigation started in mid-September when officers received several complaints about people being tricked into buying insurance policies.

It's alleged that the woman created fake insurance policies or used altered documents to make them look real. She did this to make money illegally.

The fake policies seemed legitimate and covered various things like health, life, and car insurance. However, after police investigated and checked with actual insurance companies, they found that these policies didn't exist. Some policies were even registered and cancelled at the same time, or cancelled shortly after being issued, even before the clients had paid.

The woman, who used to work in the insurance industry, had many clients. She apparently took advantage of their trust and collected payments for these fake policies directly through Bizum to her personal phone or via bank transfers to her own account.

During the operation, officers arrested the woman and searched her home. They seized computer equipment and mobile phones that are believed to be relevant to the investigation.

Police are still looking into financial transactions made through Bizum and are reviewing statements from those who have come forward. So far, around 50 victims have been identified, with estimated losses exceeding 20,000 euros. This figure is expected to rise as more complaints and documents are analysed.

Additionally, ten of the woman's bank accounts have been frozen to allow for further investigation and to help compensate the victims.