The National Police, in cooperation with the FBI, have arrested a fugitive wanted in the United States in Calvia for fraud after allegedly artificially inflating the price of stock market shares and obtaining millions in profits from the sale of the same.
The suspect, whose identity has not been revealed, took place on Wednesday and the arrested man has been handed over to the Balearic High Court, according to the National Police yesterday.
He is accused of securities fraud and illicit association for the concealment of money laundering.
The man was wanted as the alleged head of an illicit scheme by means of which he manipulated shares in companies listed on the stock exchange.
Subsequently, using false information, he sold them at a much higher price than their real value, thus defrauding the buyers.
The FBI and the National Police cooperated in the operation.
Earlier this week, the FBI and the U.S. Homeland Security Investigations (HSI) Officers were involved in the raid on the Russian owned yacht, Tango, in Palma.
The involvement of this department in the operation was unclear but it is claimed that the raid came about after pressure from the U.S. government.
HSI’s workforce consists of more than 10,400 employees, including special agents, criminal analysts, mission support personnel and contract staff assigned to offices throughout the United States and around the world.