A man previously convicted of fraud has been acquitted in a £60 million Tenerife timeshare scheme connected to the late gangster John “Goldfinger” Palmer. Paul Blanchard, 81, was sought by Spanish authorities on money laundering allegations as part of a criminal group linked to Palmer’s former security chief, Mohamed Derbah.
Blanchard, who consistently denied the charges and asserted he was providing information to the police, has now been exonerated as the Spanish prosecution case collapsed. Expressing relief, Blanchard stated that the ordeal had plagued him for years but has finally concluded, allowing him the freedom to travel without constraints.
John Palmer, known as Goldfinger for his involvement in the notorious Brink’s-Mat robbery, later engaged in fraudulent activities targeting individuals seeking vacation properties in the Canary Islands. His fallout with Derbah in the 1990s triggered a violent conflict between the two.
Derbah, who allegedly sheltered criminal Kenneth Noye after a notorious murder case, was accused of orchestrating a similar scam to Palmer’s. Blanchard maintained that he believed the business was legitimate but collaborated with Spanish authorities when suspicions arose regarding Derbah’s funding of extremist activities.
Following a conviction in the UK in 2008 for various offenses, including passport fraud and money laundering, Blanchard successfully challenged an initial extradition request in 2021 due to legal deficiencies. However, a subsequent extradition request in 2022 was approved by a UK court.
Despite preparing to appeal the decision, Blanchard was informed just before the scheduled hearing that the case had been dropped, leading to his complete vindication. He asserted that his previous conviction in the UK was unjust, attributing it to the authorities’ failure to acknowledge his informant status.
Further, Blanchard disclosed his covert assistance to Spanish agents in tracking illicit funds and providing intelligence on a terrorist network operating from the UK. Despite his cooperation, Spanish authorities allegedly disregarded this information during legal proceedings.
In a separate development, a European Arrest Warrant in 2018 labeled Blanchard as the financial advisor behind Derbah’s criminal network, emphasizing their utilization of mafia tactics for money laundering and other illicit activities. The warrant highlighted the gang’s involvement in forging credit cards and obstructing justice.
John Palmer, who amassed wealth through fraudulent timeshare schemes, was assassinated in 2015 before standing trial for his criminal activities in Spain. The withdrawal of the arrest warrant against Blanchard was reportedly unrelated to his appeal and instead linked to the dismissal of charges against Derbah.
Overall, the legal saga involving Blanchard and his alleged ties to criminal operations in Spain underscores the complexities and challenges surrounding international law enforcement cooperation and extradition proceedings.
