Elton Joseph Caruana, one of the developers who killed Miriam Pace and got away with it, recently flexed his Mercedes on social media, but a reader has gently pointed out that his Mercedes has also been for sale.
Generally, this kind of thing happens when someone takes an uncollateraliased loan from the bank to buy a vehicle only to sell it to get cash in return. Undoubtedly, the buyer of the vehicle would take a loss with such a process given that he would have to sell the vehicle at a lower price from its initial purchasing price, so this kind of thing is generally done when the person is in desperate need of cash.
However, Elton Caruana is also advertising an ask for properties up to €100,000 which he would pay in “cash”, so maybe this is his way of getting liquidity to buy properties.
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