This Wednesday, the First Section of the Provincial Court of the Balearic Islands holds the preliminary hearing of the trial against a woman accused of keeping more than 300,000 euros from the sale of an apartment in Ibiza that was never built. The Prosecutor’s Office is requesting a four-year prison sentence for the accused, as well as the payment of a compensation of 317,000 euros, which she should assume together with the company she represented.
A promotion that never took off
The case dates back to October 2017, when the defendant, in her capacity as attorney-in-fact of a development company, signed a contract with the victim for the acquisition of an apartment in a real estate project to be erected on a plot of land in Ibiza. As part of the agreement, the buyer initially transferred 11,000 euros as a reservation, followed by 306,000 euros to complete the transaction. However, according to the Prosecutor’s Office, instead of allocating the money to the development of the project, the accused transferred the funds to a personal account, appropriating them and leaving the project completely inactive.
The defense of real estate assets
The prosecutor argues that the accused incorporated the money into her personal assets, breaching the contractual commitment and causing serious economic damage to the buyer. This case, which points to fraudulent practices within the real estate sector, highlights the vulnerability of buyers on an island like Ibiza, where the housing market is marked by high demand and exorbitant prices.
