From the Spanish newspaper INFORMACION on 18/06/2017:

The Audiencia of Alicante has condemned two false lenders for defrauding two businessmen in trouble seeking funding, according to the ruling to which the newspaper has had access. The events go back to 2009, at the beginning of the economic crisis, when banks had closed the credit tap. On the bench sat six accused of being part of a network dedicated to defrauding entrepreneurs throughout Spain appearing to be people of high economic solvency and promising to solve their liquidity problems. In exchange for access to millionaire checks, the injured only had to advance funds in terms of economic consideration. However, the Audiencia has not considered it proven that the defendants were part of an organized plot.

Two of the accused who sat on the bench have been acquitted as they were not shown to be related to the scam and consider that their role was that of mere intermediaries. The two alleged plot leaders were not brought to trial. Giovanni Gronchi died in the year 2015 at age 85 and posed as a son of the Italian president of the same name. Alessandro Gronchi, son of this accused, has not been able to be tried for running away from Justice. The scams have been investigated separately in different territories and in Alicante have been judged the complaints of the two affected in the province. One was looking for money for his group of companies and the other for the construction of a wind farm.

The ruling sentence to 21 months imprisonment to two of the defendants for defrauding entrepreneurs amounts totaling 30,000 euros. However, the judges have not considered proven the relationship of these two accused with the Gronchi, to whom the injured delivered another 70,000 euros. The businessmen ended up going to the two convicted after paying several advances to the Gronchi by not obtaining the promised financing.

Conviction For Loan Scam

The ruling states that the accused was presented to the injured businessmen as a wealthy heiress representing a Swiss merchant who could give them the funding they needed, but for that he needed more than 300,000 euros to be able to “unblock” an inheritance and lend them 40 millions of euros. The defendant said at the trial that she merely did what her ex-husband said, who was not among the accused. However, the magistrates point out that she was the one who face the consequences in all the operations and that “deceived” to the disadvantaged presenting itself like rich person of great solvency and representative of a Swiss international group that later turned out to be nonexistent. “All this to gain the confidence of the injured parties so that they came to believe … that they would give them loans in exchange for a deposit in money,” says the ruling.

The other convict is the one who put the entrepreneurs in contact with the accused. The ruling says that his role was not that of mere intermediary, since he worked for her and the money handed over by the entrepreneurs first went through a bank account in his name.

The ruling says that the injured people went through a “calvary” trying to achieve the promised funding. During the negotiation period with the Gronchi, the injured parties also had to make several advances in the form of funds, after organized trips to tax havens in the Caribbean and Abu Dhabi, with those who pretended to have solvency.

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