Conservative Treasury minister Sajid Javid has vowed to ask Rothschild about the fate of more tan 100 victims of the Equity Release scam, following Labour MP Huw Irranca-Davies call on the Rothschild bankers to fulfil their “moral responsibility” to people living in fear of “penury”.
Video
Intervention starts at 17:08.
Source: UK Parliament Live TV | Transcripts
From your erva team – please click on the link below fo a full report on the questions asked in parliament.
http://www.theyworkforyou.com/whall/?id=2014-01-22a.135.1
Or of course go to the web site for the various links. It is in the interest of all Rothschild victims to read of the progress some of you members are making.
Very interesting, at least the Rothschild scheme is getting some air, how far the British Parliament can go with it is another matter. From what I understand Rothschild are a Guernsey based company which is in the jurisdiction of England and Wales, does that mean that the FSC are also their regulators. Perhaps as all these illegal sales were conducted in Spain and signed in Spain, the FSC has no authority over them, if so what a shame. Does any one have any feed back from the UK Fraud Squad, who have been looking into these allegations. What is certain, there is lots of evidence that Rothschild are involved in this up to their necks, both from a mis-selling and more importantly tax fraud.
The debate was useful, and the Minister offered to speak to authorities in Guernsey and Spain, and to meet with me. Can I ask any UK citizens affected to contact their own MP, ask them to read the debate, and to also write to the Minister, and to get in touch with me directly. As a line voice my impact will be limited, so a few more parliamentary voices would help. Cheers. Huw
We are very grateful for Mr Huw Irranca-Davies, for bringing up the plight that many of our members find themselves in. First erva wishes to thank Huw for bringing up this matter in Parliament and relaying the very serious hardships this has brought to hundreds of UK pensioners that have retired in Spain. His speech was very accurate and we congratulate him for spending the time to gather all the evidence together, which clearly states Rothschild involvement in this scheme. Although he is correct in saying that the majority of these banks were Scandinavian, based in Luxembourg. He mentioned in particular, Danske Bank where a criminal complaint is currently being investigated in the courts in Fuengirola (Costa del Sol) Nordea Bank SA (Luxembourg) proceedings of which have been issued in the Mercantile Court (Malaga) Sydbank. Nycredit. He should also be made aware that non other than Barclays Bank were one of the first banks to sell these obnoxious products in Spain. SLM (Surrenda Linked Mortgages) another UK institution are also involved. We are also very grateful that the UK Treasury Minister Sajid Javid for contacting his counterpart in Spain and we hope that the Spanish Authorities will now investigate these banks. Many of which are not registered in Spain for these particular financial products. Whilst Rothschild Bank have stated that they will not be foreclosing on the properties, this cannot be said of Nordea Bank SA, who have systematically commenced foreclosure proceedings in Spain. One of our members, a UK citizen, now well over 70 years of age and suffering from cancer has had his property repossessed by Nordea Bank, which has been auctioned by the courts. His marriage has suffered as well as his health. It will be interesting to see how many victims Rothschild declare to Huw. By the way Huw all these can be extracted from the public records and we can obtain very accurate numbers and in fact the names of all the victims in Spain. Thanks again Huw for your support.
It is good that your government are on your side. Many Scandinavians also have problems with this. The Danish and Luxembourg banks have done many wrongs. Do you have details of how many of my people are involved.
To Perolaf from the erva team.
It would appear that our plight is gathering some momentum. Yes our British members are pleased that questions are being asked in Parliament. We are not sure which bank, if any you are involved with, however to answer your question. We have searched the public records and have received a breakdown from the Public Records Office, which we are currently analysing. So far we have only asked for the records of Nordea Bank SA and Sydbank/Nycredit. The records asked for are for the Marbella area only. It would appear that there are just over 100 transactions regarding mortgages, as yet we do not know if they all relate to equity release. Briefly in this area alone Nordea Bank have contracted to 97 mortgages, 89 of these seem to be Scandinavian names and 8 have English names. As we said a full analysis has not yet been done and we need to spend more time to determine the nationalities of these people. Sydbank/Nycredit have not yet been analysed, but there don’t appear to be as many. As you are aware we have a number of writs in various courts, which include Nordea Bank, Danske Bank Sydbank/Nycredit. Should you or any of you friends wish to join in our fight then please get in touch with erva and we will do everything to assist you.
Message to all victims of Rothschild, Surrenda Linked Mortgages and Barclays Bank. We understand that all these banks/institutions are within the jurisdiction of the courts in England & Wales. We urge you all to contact your local MP, remind them of the debate in the House of Commons by Huw Irranca-Davies Labour MP for Wales and have him support Huw in his efforts to get justice for all victims of the Spanish equity release scam. Help Huw to help yourselves.
Just a little note to keep you all informed. I seems like we have two other MP’s taking an interest on our behalf. Andrew Duff Liberal Democrat MEP for East of England and Tony Baldry MP. Please let us have feed back once you have contacted the MP in your constituency and we will let everyone know. Of course remember that your beneficiaries (children) for example can also approach their MP as they are the ones who will have the IHT problem. If you need help just let us know, just contact erva on the members list and we will pick it up. Our lawyer Antonio Flores has prepared on our behalf a succinct synopsis on the equity release scheme, which we will let you have to send to your MP. Just remember this is tax fraud and where tax fraud is involved, money laundering is an automatic juridical consequence. We are hoping that as a result of this the State Prosecutor may take this up.
I have been following this site for some time now and have come to realise that this is developing into a serious matter and gathering pace very quickly. Initially I thought that this was just the ravings of a group of people who had invested money and lost it. However, I now have come to the conclusion that a great harm has befallen many British pensioners, this now does seem to be a scam of incredible proportions. Surely if it is thought that this is indeed tax fraud and subsequently money laundering, why on earth has the Spanish government and State Prosecutor not taken this up.
My wife and I too are a victim of one these fraud selling banks, namely, the Danske Bank. I have just written to Huw Irranca-Davies. I was delighted to read about the interest he is taking in our cause. I commented upon the findings of the ombudsman concerning his conclusion and ruling about Rothchild’s responsibilities by putting the blame on the IFA’s. I commented to HUw, ” how could he make such a ruling, when all the IFA’s were doing was selling the banks product for a commission” I can only assume that he was not made aware of the facts ie THE SPANISH TAX AUTHORITIES STATE IT IS ILLEGAL TO REMORTGAGE A DEBT FREE PROPERTY TO AVOID INHERITANCE TAX! So can we conclude that he is not interested in the fact or worse still did not have the information, that all the banks involved who have sold ERS schemes have broken the law and worse put all their victims in an illegal situation, HHHMMM?
In the case we have with the Danske Bank it is made even worse BECAUSE THEY FRAUDULENTLY USED KPMG’s name on their promotional material by saying that the product was endorsed by KPMG. We have (ERVA) two letters from KPMG’s lawyer stating emphatically:- they had never approved the scheme, let alone that the bank could use their name to promote it!! My question is when it is so obvious to any simple person, why can the higher authorities and the banks duck under the usual old, it is not on our table, it comes under someone else’s domain, hide behind their little protectors (Luxembourg) etc. etc. YET THE WHOLE OF EUROPE, BRUSSELLS, UK, are chasing and (trying) to organise a coordinated effort to bring tax fraud to light. Her is a golden opportunity for them to really blow away the red tape and simple put these banks into court where they belong and force them to repay all of the victims. Let’s face it if we walked into a bank and stole some money it would not long before we were in prison!!!!!
What therefore is the difference between a member of the public stealing from a bank and a bank stealing from a member of the public????