The Olive Press newspaper has publishedÂ that a law firm acting for equity release victims has demanded that Baron David de Rothschild appears in Court.
Mr. Rothschild, former Chairman of N.M. Rothschild & Sons, is considered to be the ultimate responsible person of allowing the bank’s advertising to be published in this country.
The referred literature includes an open invitation to register a Spanish property with a mortgage loan to, according to Rothschild, reduce Spanish Inheritance Tax.
Article 282 of the Spanish Criminal Code establishes the following:
Manufacturers or traders who make false claims or declare untrue features in their offers or publicity of products or services, so as to cause serious, manifest harm to consumers, without prejudice to the relevant punishment for having committed other felonies, shall be punished with a sentence of imprisonment of six months to one year or fine from twelve to twenty- four months.
The petition for formal indictement and summons has been filed through the Denia Courts, currently investigating a fraud claim institigated in 2011 by Fuengirola firm IURA.
Stephen Dewsnip and Mark Coutanch, both named and charged in the above criminal proceedings, have failed to attend a hearing and as a result, have been issued with 2 warrants.
Rothschild has been eagerly avoiding being linked to fraudulent lending and has denied liability.