National Court Refuses To Investigate Alleged Real Estate Scam Due to Lack Of Evidence

According to reports in the press  the National Court has refused to investigate the complaint that some 20 British residents in the Costa del Sol presented last November against ten foreign financial institutions for an alleged crime of fraud and false advertising real estate,
It is understood that the news was announced yesterday by the attorney for the plaintiffs, Antonio Flores. 
It is reported that the  Court claims that it has territorial jurisdiction and the complaint does not contain sufficient information to start a legal procedure,. 
According to the reports the case , has caused a ”commotion” in Denmark, after news that the fourth largest bank in that country, Sydbank, was involved in the alleged scam, and was operating in Spain without the prior permission of the National Securities Market (CNMV). 
The reports say that those affected could have lost between 50 and 75 million euros.