Tenerife Broker Arrested in €130,000 Fake Insurance Scam

Police in Playa de las Américas have arrested a 44-year-old man accused of a continuous fraud. He allegedly tricked over 150 people into buying insurance policies that didn't exist. Investigators believe he defrauded his victims of more than 130,000 euros.

The arrested man used his position as a professional insurance broker to attract victims. He worked from a consulting firm in Arona, Tenerife. After gaining their trust, he offered them various types of insurance policies – all of which were fake. He then collected payments, which he diverted directly into his personal bank accounts. No real or legal insurance policies were ever created.

The Civil Guard started their investigation after receiving the first complaint. Since then, they have analyzed nearly 1,200 documents, including policy details and bank transactions. This evidence helped them identify 156 potential victims. To date, 46 official complaints have been filed, and authorities believe more victims may come forward in the coming days.

The arrested man has already been brought before the court, and legal proceedings have started.

The Civil Guard has used this case as an opportunity to share important advice on how to avoid becoming a victim of this type of fraud.

For more information, you can contact the Civil Guard's Press Office in Santa Cruz de Tenerife by calling 696943009 or 922648500 (extensions 1620425 – 1620608).