Peter and Benjamin Schmidt were found guilty by an Alicante court of fraud,

Peter and Benjamin Schmidt were found guilty by an Alicante court of fraud, sentenced to two years in prison and ordered to repay the £50,000 deposit taken from Keith and Marilyn Brown in 2004.

A total of 60 people, mostly British, paid deposits in excess of £50,000 for property sold off-plan via the German father and son company Construciones Monte Puchol S.L.

Within the space of a year the expectant homeowners began to realise that building licenses had not and would not be granted to the Schmidts, who had illegally earmarked 'rustic' land on which to build the 60 properties.

It remains to be seen whether the decision will set a legal precedent and enable remaining victims, not just of the Schmidts, but of all fraudulent developers in Spain, to claw back their losses.

Despite the allegations of fraud and the evidence against the Schmidts, the Browns were required to fund the six-year legal action themselves – something that has left a bad taste in the mouth of Mr Brown, particularly as there is no guarantee that the Schmidts will actually pay back what they owe.