By Santiago Carneri

Copyright euroweeklynews

Four men are facing trial accused of defrauding a couple out of €325,000 through a bogus gold investment business.

According to the prosecution, the defendants set up a limited company in Colombia in 2013 which had no real activity, with the alleged aim of attracting money from Russian investors.

One of the accused, tasked with finding potential investors, approached the victims and persuaded them to invest, convincing them of the profits they would supposedly gain.

On December 12 2013, the couple signed a participation contract before a notary in Alfaz del Pi, committing €478,000 to the venture. In the first few months, the victims received around €40,000 in small instalments as purported profits.

The prosecution is seeking a five-year prison sentence for each of the defendants on charges of fraud.