Arrest in Ibiza over alleged €10 million fraud in international operation

The Guardia Civil in Ibiza, together with the German Polizei, has confirmed the arrest of a 62-year-old German national for an alleged fraud offence as part of Operation Geldstrom Bal, according to official sources.

The detainee is real estate businessman Uwe Reppegather, who is expected to be extradited to Germany, as reported by Mallorca Zeitung. Reppegather, who was also active in the property sector in Palma, declared personal insolvency in 2023 after the operations of his company Centrum ran into difficulties. He is said to have personally guaranteed numerous projects, accumulating debts totalling €1.6 billion, of which creditors recovered only 0.72%.

Investigations have continued due to suspicions that, prior to declaring insolvency, Reppegather transferred significant assets to individuals within his close circle. For instance, the multi-million-euro villa in Ibiza where he was arrested had been transferred to his wife. Authorities also question whether all assets were properly declared in the insolvency proceedings.

Operation across six countries

The events date back to 26 March, when a large-scale operation was launched across six countries. Coordinated by Eurojust, more than 49 properties were searched in Germany, Austria, Luxembourg, the Netherlands, Spain and Switzerland. The investigation targets a business group allegedly involved in fraud, tax evasion and other corporate offences amounting to approximately €10.5 million.

During the operation, carried out on behalf of German authorities, Reppegather and an alleged accomplice were arrested in Spain and Germany, respectively. The searches led to the seizure of a large volume of evidence, including mobile phones, computer equipment, commercial records and other documentation.

Authorities also confiscated assets worth millions of euros, including cash, works of art, watches, luxury handbags and a high-end sports car.

In Ibiza, two searches were conducted in coordination with the other countries involved. According to the Guardia Civil, officers seized €186,000 in cash, jewellery and high-value watches, as well as both physical and digital evidence, including mobile phones, computers, tablets and other electronic storage devices.

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