7 JULY 1984, Page 21

Spain drain

The Treasury, if frustrated by its mer- chant bankers, can at least take it out on frauds. Already Lord Roskill's inquiry is brooding on better ways to run fraud trials, and hoping to hear from those unlucky enough to have sat through them as jurymen. Now, Treasury initiative is setting up a new Fraud Investigation Group, to deal with serious financial fraud cases — a team of lawyers and accountants whose chief will report straight to the Director of Public Prosecutions and the Attorney- General. They may find it saves time and money to set up a branch in Marbella. Scotland Yard purports to be embarrassed by word of its interest in some local residents — who, it is suggested, might help the police in their inquiries into thefts of banknotes, bullion, and so on. But to the senior residents of Marbella that kind of thing is crude nouveau riche. Many of them have been there since the heady days of ex- change control, none would have laid violent hands on the money that has paid for their villas. This better element con- tinues to elect newcomers, of the right type. Nowhere more than in Marbella are there social chasms. For that matter, nowhere are there more Dobermann Pinschers.

Christopher Fildes