Getafe, Espanyol victims of 'Sheikh scam'
Getafe president Angel Torres managed to avoid the club losing millions in a high profile 'Sheikh scam'.
Seven people are on trial in Spain for an alleged series of financial scams involving impersonating rich Middle Eastern Sheikhs.
Cadena SER has reported that Ángel Torres, Getafe's president, had been promised an investment of €10 million but the club never received the money because the sheikh who was supposed to be providing the investment never existed.
The victims of the fraud, including Torres, were required to transfer funds as a guarantee of solvency to a bank account belonging to the fraudsters. The victims paid the money but the investment never appeared.
Directors from Espanyol also travelled to Dubai to meet with the fake 'Arab multimillionaires' but were later informed that they were being swindled. A number of football clubs and businesses have been victims of the fraud.