The High Court of Justice of the Canary Islands (TSJC) has issued an unexpected ruling, acquitting a man accused of misappropriating €246,000. The judges overturned an earlier conviction (four years in prison), arguing that the deception was too “crude and obvious,” while the victim showed “extreme negligence and lack of diligence” by failing to take even minimal precautions.
The scheme operated from late 2020 until February 2022. The accused posed as a real estate agent and offered properties at heavily discounted prices, allegedly acquired from so-called “vulture funds” (fondos buitre). The victim made six large transfers to purchase homes in Tenerife and Fuerteventura, but none of the transactions were formalized and no property was ever transferred.
The court ruled that the fact the investor continued to send tens of thousands of euros over a year and a half—without receiving anything in return or verifying documentation—demonstrated that he had effectively “allowed himself to be deceived.” Under Spanish law, if the perpetrator’s lie is deemed primitive (burdo engaño) and the victim fails to exercise critical judgment, the legal elements of the crime of fraud (estafa) may be considered absent.
❗️ The judges noted that the victim was driven by greed and the desire to acquire assets at bargain-basement prices. Although the defendant returned €100,000 after facing the prospect of trial, it was precisely the legal assessment of the victim’s conduct that ultimately spared him a prison sentence.
The scheme operated from late 2020 until February 2022. The accused posed as a real estate agent and offered properties at heavily discounted prices, allegedly acquired from so-called “vulture funds” (fondos buitre). The victim made six large transfers to purchase homes in Tenerife and Fuerteventura, but none of the transactions were formalized and no property was ever transferred.
The court ruled that the fact the investor continued to send tens of thousands of euros over a year and a half—without receiving anything in return or verifying documentation—demonstrated that he had effectively “allowed himself to be deceived.” Under Spanish law, if the perpetrator’s lie is deemed primitive (burdo engaño) and the victim fails to exercise critical judgment, the legal elements of the crime of fraud (estafa) may be considered absent.
❗️ The judges noted that the victim was driven by greed and the desire to acquire assets at bargain-basement prices. Although the defendant returned €100,000 after facing the prospect of trial, it was precisely the legal assessment of the victim’s conduct that ultimately spared him a prison sentence.
