Spanish National Police announced Tuesday they dismantled a criminal group behind the "Rip Deal" scams, leading to the arrest of six suspects linked to over 348,000 euros ($378,780) in fraud across Madrid, Alicante, and Marbella.
The investigation began as part of broader Europol-supported efforts targeting the international use of the "Rip Deal" scheme, which involves tricking individuals selling valuable items—either online or offline—into exchanging them for counterfeit money. In one instance, the group resorted to violence, dragging a victim from their car to steal jewels worth around 38,000 euros ($41,362).
The first known incident occurred more than a year ago, when the suspects met victims at a Madrid hotel. After gaining their trust through multiple calls and meetings, they scammed the victims out of 160,000 euros ($174,171). A fingerprint found on a glass used by one of the perpetrators led to the identification and arrest of a suspect at Barcelona Airport. Efforts to locate the second suspect are ongoing.
In another case last July, the group targeted a seller in Marbella trying to offload rural property. After receiving several calls from Italian phone numbers, the seller met the supposed buyers at a restaurant. One of the perpetrators offered 500,000 euros ($544,145) in cash, along with 165,000 euros ($179,575) in 200-euro bills. The seller was instructed to return 150,000 euros ($163,239) in smaller notes. The scam was discovered when the victim agreed to the exchange and realized the money received was counterfeit.
Police set up an operation near the meeting point and ultimately seized counterfeit 200-euro banknotes found in the victim's backpack.
