Police received a report Sep 7 from someone close to the man, who lives in Lleida province, that he had been abducted.
The person filing the police report told officers that the man said he was being held in an apartment in the eastern city of Valencia and feared for his life.
The supposed kidnapping victim continued sending e-mail messages and making telephone calls to relatives to get them to pay ransom for his safe release.
The man claimed he was being beaten, that the kidnappers had already broken two fingers on one of his hands and that a finger would be broken for every hour that passed without ransom being paid.
Investigators reached the conclusion after analyzing the phone calls and other evidence that the man had faked his kidnapping to get his hands on some cash because he was deeply in debt.
Police in Catalonia contacted the force in Valencia, which assisted in the investigation.
The supposed victim, identified only as Albert C.Ll., was found last Monday walking down a street.
He was arrested and charged with filing a false police report.