Spanish police arrest six for $600 million LSE fraud
Six suspects arrested in Spain over an alleged £420 million stock exchange fraud
The alleged fraud began in 2003 and was investigated by UK police in 2005, according to the Spanish police statement. The London Stock Exchange was unable to confirm or deny the reports.
The statement said: "Through complex business and stock market operations, as well as fraud, the suspects managed to get the value of shares of a business to increase without deposits to back it up, subsequently enriching themselves through the sale of the fraudulent shares."
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