On Monday we published the news about the start of a trial at the Audiencia Nacional, Spain’s National Court, which has involved around 17 years of investigation. It centers on what is believed to be one of the largest timeshare frauds in the history of timeshare.
Then the press released the news that a former associate of Palmer, Marco Yaqout was shot dead outside his home in Marbella. He was reputedly Palmer’s right hand man in the early days in Tenerife, he went on to own a string of night clubs which also included interests in the famous Linekers bars.
It seems that a gunman was lying in wait behind some bins and began shooting as Yaqout drove up to his home in his distinctive Bentley. Around 20 shots were fired.
Yaqout has been linked to a host of celebrities which all revolved around his night club in Puerto Banus, TIBU. These have included the cast of the TV reality show TOWIE along with Professor Green who performed at the club.
At present the police have made no arrests and it is unclear as to the motive, some speculate that it was part of the nightclub “wars” on the Costa del Sol, others believe that he may have been ordered to give evidence in the trial currently running in Madrid. It is believed that he had an enormous amount of information on all the activities surrounding the timeshare fraud, along with some of the unsolved murders linked to it in Tenerife. Most of the newspaper reports do not mention the Palmer link or the trial, which is not surprising as they tend to love anything with celebrities attached.
The trial heard on Tuesday that Richard Cashman, the alleged lieutenant of Palmer, denied that he led the scam network to defraud the countless tourists who were taken in by the timeshare fraud. He did admit that he arrived in Tenerife in 1993 and worked for Palmer, again denying he had anything to do with the selling of the apartments. He told the court that he was at first in charge of security, (in timeshare language that would be “clumpers”), then went on to manage bars, restaurants and servicing of rental cars.
As more news emerges we will publish it here.