found this on the net
John Edward Palmer, is accused of criminal activily linked to timesharing and other activities.
The National Police have arrested the 57 year old British man, John Edward Palmer, who is accused of running an organised crime network which operated from the Canaries and which is alleged to have carried out many fraudulent activities including time share sales, money laundering, the falsification of credit cards and their fraudulent use, as well as making threats.
Palmer was acquitted of handling the gold at the Brinks Matt robbery in London after being accused of being the brains behind the operation.
Spanish police say he has lived in Spain, on Tenerife, since 1985, and that his personal fortune has been estimated at some 600 million '80.
The Civil Guard says that the arrest was made in the Tenerife Sur airport on Wednesday night.