Police are investigating a €7 million real estate fraud in Iași/ The same apartments were allegedly promised to multiple buyers

Police in Iași are investigating an alleged real estate fraud involving estimated losses of approximately 7 million euros. Several apartments and commercial spaces in a building were allegedly promised or sold at least twice, between 2023 and 2026, to different individuals and legal entities.

On Tuesday, October 20, investigators from the Iași Criminal Investigation Service, coordinated by a prosecutor from the Prosecutor’s Office attached to the Iași Tribunal, conducted five residential searches in the municipality. Suspicions of repeated fraud with particularly serious consequences, false statements, embezzlement, and improper participation in fraud are being investigated.

According to the police, buyers allegedly paid down payments of tens of thousands of euros without knowing that the same properties had also been promised to other people. Some are now trying to recover their money or obtain recognition of their rights to the homes.

Several pieces of evidence were seized following the searches, and a 33-year-old man was taken in for questioning. The local press claims that he is the vice president of TSD Iași, information that does not appear in the police statement.