German Fugitive Arrested in Panama
Another international fugitive has been arrested in Panama.
This time, the fraudster is a 72-year-old German man who allegedly defrauded investors of $22 million in 258 cases to finance his luxurious lifestyle, largely out of Marbella, Spain. The unidentified man apparently fled Germany to the popular fugitive paradise of Panama last year, sensing that his fraud trial was off to a poor start.
Prior to the trial, authorities seized properties in Spain and Italy, expensive cars, gold bars and other luxury items worth an estimated $19 million.
The fraudster was turned over to German Authorities on Monday and his trial is set to resume shortly.
Source: AP story.
[...] Unidentified German man, arrested November 2011, fled from 2010 trial in Germany for 258 cases of fraud. [...]
Panama seems to be a magnet for criminals and fugitives.