4 Serbs arrested for cheating by pretended to be sheikhs in Italy; they made € 2.4 million in assets

Guardia di Finanza at the entrance one of the houses of the Serbs
Credit: Guardia di Finanza Varese

 Four Serbs have been arrested by Italian police as the creators of an illegal criminal and fraudulent scheme, thus accumulating a fortune of 2.4m euros.

At the entrance of a villa of the Serbs
Credit: Guardia di Financza Varese

The arrested Serbs dressed as Arab sheikhs and persuaded the parties of non-Italian citizens to pay money for investments in Italy, they took the money, while some times the currency was given back, but were false money, as the Italian media report.

The deceived were mostly from countries such as India, Cuba, Dubai, Russia, China and Hong Kong.

Inside of one of the houses of the Serbs
Credit: Guardia di Financza Varese

After two years of investigation by the Carabinieri in Varese, the officers managed to track down the four Serbs who had created this deceptive scheme, all of whom were related to each other.

Police seized a total of 2.4m euros in assets, including two private homes, nine apartments, two plots of land and expensive paintings and clocks. The detainees are 48, 45, 37 and 33 years old.

The operation was called "La Stangata Continua", and the police have identified the persons, under whose name was registered the properties, as the Serbs could not justify the property.