Spanish fraud rocks UK stamp investors
Published May 23rd, 2006
UK Auction Info
Investors in British stamp funds were left reeling earlier this month when 350,000 Spanish philatelists lost up to €5 billion (£3.4 billion) after buying stamp schemes through dealers Afinsa and Forum Filatelico.
The firms’ offices were raided and sealed by police investigating allegations of fraud, money laundering, tax evasion and embezzlement. Investors, who had been told their returns were guaranteed, were left angry and confused.
