Premier Group Limited, operating out of the Isle of Man, and SL Mortgage Funding NÂș1 Limited, originating from Chester, have had legal proceedings against them accepted by Courts in Bilbao.
A group of claimants, represented by lawyers acting for ERVA, filed a civil complaint against the aboved named companies for selling tax defrauding schemes, worth a grand total of âŹ7.5 million, through misrepresentation and deceipt.
The scheme, also known as SITIRS (Spanish Income Transfer and Inheritance Reduction Scheme), was the brainchild of Premier’s Sales Manager for Spain Charles Walton. Unfortunately for his former employers, Walton was busier cheating people than ensuring that his boss complied with the Spanish regulators, a kind of essential job he forgot about completely.
The Isle of Man Financial Supervision Commission, via the likes ofÂ Bobby Keig, Michael Weldon and Hazel Gawne, by repeatedly ignoring letters and emails from consumers cheated by this company, has given their implicit blessing to the now infamous clandestine activities of Premier Group, in Spain.
As for the appointed lenders, SLM, they were party to the scheme and derived an undisclosed profit for teaming up with Premier; they now face having their mortgages rendered null and void.
SLM (1) (1) (link to Court documents)
DENIA COURT ORDERS SPANISH POLICE TO CONFIRM ADDRESS FOR HIS SUMMONS
The writ dated 14th of October 2014 -received by lawyers acting for a Rothschild victim yesterday- has ordered the following:
- Reopening of the criminal investigation (preliminary inquiries) that was provisionally set aside (the latter status was not made aware to us as we had thought it was âaliveâ; as it happens, it makes little difference from a practical point of view).
- Informing the Spanish Prosecutor of the Court’s decision.
- Ordering the claimantsâ counsel to submit a criminal complaint, making it extensive to Baron David de Rothschild (the POA did not include him as he was initially not listed as a potential defendant) with a view to âguarantee his right to a legal defenseâ.
- Ordering the Police Forces in Madrid and Barcelona to verify whether Rothschildâs addresses in those cities are suitable for summoning Baron David de Rothschild and Stephen Dewsnip, with a view to being interrogated following an official indictment.
It remains to be seen how will the bank tackle this setback; so far, the Rothschild camp have stood firmly by their IHT mitigation CreditSelect loan product, deriding clients’ claims and being dismissive of the authority and capacity of Spanish Courts.Â
Legal proceedings against Nykredit Realkredit A/S and defunct Sydbank (Schweiz) AG, the cowboys that nearly brought the Danish parent company down, are now underway with the Marbella Courts. The claimants are two British citizens ripped off by employees of both companies,Â one of which, Sydbank, operated out what is now a Fuengirola shoe shop.
This bank was never cleared by the Bank of Spain to conduct investment business, in spite of which they opened a branch office in the Costa del Sol town. The reason is that they never bothered to apply for a license.Â
Lawyers acting for claimants will be requesting that Christel Hansen gives a witness statement, under oath, in respect of her involvement in selling bogus financial products.
Cristel, in the years of the Equity Release, would be used by Nykredit as a “pretty face” to lure unwary property owners into the trap. She used to visit clients in their own homes, together with Sydbank staff, and there are photos of her that corroborate this.
It remains to be seen whether she will choose to risk her freedom by lying in Court or, rather more appropriately, be honest and upfront about the misdeeds of her current employer.