An 81-year-old fraudster, Paul Blanchard, who was facing extradition to Spain on money laundering charges linked to a criminal syndicate led by the late gangster John “Goldfinger” Palmer’s former security chief, Mohamed Derbah, has been acquitted of a £60 million Tenerife timeshare scam. Blanchard, who maintained his innocence and claimed to be a police informant, has been cleared as the Spanish prosecution case against him collapsed.

Expressing relief over the resolution, Blanchard stated that the ordeal, which had lingered for years, has finally ended, allowing him the freedom to travel without restriction. He emphasized feeling vindicated in light of the dropped charges. Palmer, known for his involvement in the infamous Brink’s-Mat robbery and subsequent fraudulent activities in Tenerife, had a fallout with Derbah in the 1990s, leading to a violent conflict between their factions.

Blanchard, who previously served a prison sentence in the UK for various financial crimes, including passport fraud and money laundering, had been entangled in the extradition process since 2021. Despite initial legal challenges, a subsequent extradition request from Spain was granted in 2022. However, just before a scheduled appeal hearing in May, the case against Blanchard was unexpectedly dropped, prompting him to assert that his cooperation as an informant had been disregarded, leading to his wrongful conviction in the UK.

Blanchard claimed that his assistance to Spanish authorities, particularly in monitoring financial transactions and providing intelligence on terrorism financing, was not acknowledged during legal proceedings. Allegations of his involvement in criminal activities were refuted by Blanchard, who maintained that he had cooperated with law enforcement in good faith. Despite being labeled as a “financial adviser” to Derbah’s network in a European Arrest Warrant, Blanchard asserted his innocence, highlighting the lack of confirmation from Spanish law enforcement regarding his covert activities.

The withdrawal of the extradition warrant against Blanchard was reportedly unrelated to his legal challenge but rather due to the dismissal of charges against Derbah. The case sheds light on the complex web of criminal activities orchestrated by figures like Palmer and Derbah, with Blanchard caught in the crossfire of legal battles spanning multiple jurisdictions.