Financial Times FT.com

Stamp traders in €5bn Spanish fraud probe

By Leslie Crawford in Madrid

Published: May 9 2006 17:40 | Last updated: May 9 2006 21:40

Spanish authorities said on Tuesday that hundreds of thousands of small investors may have been swindled by two stamp-trading companies.

Police raided the offices of Forum Filatélico and Afinsa, two companies that placed investors’ savings into stamp-investing schemes. Some 300 police officers sealed the headquarters of the companies and the vaults where stamps were stored.

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