The loans Duran swindled from banks were his way of regulating and denouncing this situation, he said. He started slowly. “I filled out a few credit applications with my real details. They denied me, but I just wanted to get a feel for what they were asking for.” From there, the former table-tennis coach began to weave an intricate web of accounts, payments and transfers. “I was learning constantly.” By the summer of 2007, he had discovered how to make the system work, applying for loans under the name of a false television production company. “Then, I managed to get a lot.” €492,000, to be exact.
How did Duran obtain a lot of money in 2007?
He took out extensive loans on behalf of a fake company He struck a deal with a television production company He leveraged the few bank loans he previously took out using his real details He requested loans from banks outside of Spain