Main defendant in real estate trial denies all allegations

New development in the case of alleged real estate fraud

On Monday morning, around 9:30 a.m., the small courtroom at the Palma district court filled up faster than expected. The sun just managed to shine through the windows onto the Passeig; somewhere there was the smell of cold coffee and paper. At the center of the hearing was the 47-year-old main defendant, known in the town to everyone as "Charly".

Statement instead of confession

Before the benches of the judges the man spoke aloud and sometimes haltingly, saying he had not knowingly defrauded anyone. He admitted making mistakes but cited a series of reasons: alleged misinformation from banks, sudden panic among clients after a WhatsApp message and personal threats that ultimately led him to flee to Colombia in 2018, he said. Who made the threats remained vague.

He repeatedly emphasized: "I am innocent". He described his own confusion, poor sleep and decisions that in retrospect had been wrong. The audience in the courtroom reacted quietly; lawyers leafed through documents, an acquaintance shook her head.

Contradictions and open questions

The public prosecutor's office appeared unimpressed. It points to the amount of claimed damages and to the fact that client funds were apparently also used privately — for example for a mortgage, a hair salon and other expenses, according to the indictment. The defendant described these expenses as legitimate commissions or misunderstood business costs.

Particularly critical for him are statements about casino visits and large losses, which he partly even questioned himself — he even said he usually "wins" there. That brought observers in the session to a quiet smile, but in court numbers and evidence count, not stories from the casino.

The proceedings continue

In addition to the main defendant, several co-defendants are on trial. The hearing will continue in the coming weeks; witnesses are to be heard further and account movements examined. For many investors who deposited years ago, the wait is wearing. In the corridors of the court I heard a woman say: "We want clarity at last."

Whether that will be provided remains open for now. The case seems like a puzzle with missing pieces: accusations, contradictory statements and the question of who bore which responsibility when. The upcoming dates will show whether the allegations are substantiated — or whether the story ends differently than many now suspect.