Group lured victims into fake luxury car and boat import deals
PJ criminal police have arrested five people suspected of running a massive luxury car and boat scam in the Algarve which swindled victims out of at least €1 million.
According to investigators, the criminal network had been running an elaborate scheme, creating fake companies under third-party names to hide their true identities and illicit activities. The suspects allegedly forged documents and engaged specialists to aid in their fraudulent operations.
The group’s main tactic involved luring victims into luxury car and boat import deals. Customers would make substantial down payments, only for the transactions to collapse, allowing the fraudsters to pocket sums exceeding €450,000.
To hide their fraudulent activity, the group used threats and intimidation tactics to discourage victims from filing complaints, the statement adds.
The operation, codenamed ‘Gatsby’, saw authorities carry out 15 searches, leading to the seizure of two Algarve properties, three high-end cars, around €25,000 in cash, IT equipment, documents, several firearms and munitions and drugs, including heroin and cocaine.
The group, which was under investigation since 2024, carried out a series of crimes which allowed its members to “live a luxurious lifestyle that was incompatible with their declared income,” PJ police say in a statement to the press.
PJ police add that the five people detained, aged from 30 to 36 and living in Lisbon and the Algarve, are due to appear before a judge soon.
The investigation is being led by the Department of Investigation and Penal Action of Loulé (DIAP).
