Tag archives for Steve Dewsnip

ERVA considering criminal action vs. Rothschild

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ERVA is considering joining criminal case 527/2011 in Denia (Alicante) pursued against N.M. Rothschild & Sons, Steve Dewsnip and others.

The case seems to have stalled after attempts to deliver Court papers to IFAs failed to materialize (as a result of them not living in those addresses).

Joining this case may help the acting solicitors and their clients by pushing proceedings with fresh new publicity evidence, broker affidavits and other relevant information which has already been filed with the Malaga Courts.

 

Misleading Publicity Legal Suit to be Filed Against Rothschild

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The DGT (General Directorate of Tax) has confirmed that mortgage loans for any other purpose than buying the property on which they are registered, are not deductible for Spanish Inheritance Tax Purposes.

Binding consultation 04423-13 received by Lawbird lawyers today (28th May), refers also to loans granted abroad (such as those by Rothschild, SLM, Nykredit etc.) that are guaranteed by mortgages on Spanish property and is adamant: only real debts can be used to mitigate taxes.

Nobody questions that N.M. Rothschild & Sons could and should have ensured that the product they were selling was legitimate, just like any diligent person carrying out any commecial activity in Spain would do (and indeed any where in the world).

Instead, they chose to make their clients accomplices of tax fraud because some inept lawyer at Gomez Acebo & Pombo decided that it was legal, at the insistence of clowns Mark Coutanche and Steve Dewsnip, to run this circus.

Claimants will demonstrate that all the publicity issued by Rothschild, and the companies they used to sell the product CreditSelect Series (as confirmed by honest and helpful former employees) is false, fraudulent, encouraged tax evasion and has caused untold grief on victims.

The legal suit against Rothschild is to be lodged with the Malaga Mercantil Courts on the 7th of June 2013.

Seniors Money Lifetime Loans: An Equity Release Scheme done right

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Bill Blevins, the man that has lent his name to the company Blevins Franks, can be said to be one of the few that, when it comes to Equity Release, did the right things.

By partnering with Seniors Money Lifetime Loans, his company offered a serious, comprehensible and a more or less transparent service to equity rich expats, yet in need of cash, living in Spain. Or, at the very least, we could not find a search-engine enquiry result similar to the barrage of negative comments in respect to the truly fraudulent schemes this site is all about.

But doing things right did have its drawdowns: local land registries kept turning down the registration of many clauses of these mortgage loans because they did not adapt to mortgage laws. Seniors Money Spain Finance Ltd., not content with the antics of overzealous registrars within their jurisdictional fiefdoms, chose to appeal every single of the registrars rejections to register the “reverse loans” (at least 10 that we know of) to the Directorate General of the Land Registries and Notaries (DGRN), who partially accepted the claims (the decisions are mostly copy-pasted).

The Registrars, who had¬†previously mocked the work of lazy Notary Publics by questioning their legal capacity, went to new heights by challenging the decision of the DGRN (their bosses), in Court, because the top brass of these privileged casts had issued their legally binding opinions…a wee bit late! And won!!

Such a mess could have easily been prevented by doing what other banks did so well: just cheat. Rothschild, Nordea, Jyske and a few others went down a straight line and signed straightforward mortgage loans to expats who thought they were being sold a reverse mortgage.

As Steve Dewsnhip put it: it is a mortgage loan that is not really a mortgage loan, so don’t you worry.

 

 

Rothschild’s Equity Release Legal Defense Exposed

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One thing Julia found most upsetting was the fact that she is of Jewish descent, just like Rothschild are reported to be, in spite of which she was taken in by her coreligionists with false promises of Inheritance Tax benefits and regular income. The Daily Mail covered her story and yet, Rothschild deny any wrongdoing. They are currently basing their legal defence on 2 items:

  1. That they were only the lenders and were instucted by the clients to invest the proceed in a specific product, without them ever providing any financial investment.
  2. That the network of “financial cowboys” they employed, some of them on the warned list of UK and Spanish financial regulators, were actually not appointed by them, but by the customers, at their own peril, and as such they cannot take responsibility.
Before making the above silly statements Steve Dewsnip, currently managing a football club, had already shared the following with his devoted customers:
By employing two full-time credit analysts within our Banking Team dedicated to researching and analysing offshore mutual funds, we are able to accept a wide range of investments provided by major fund management groups as collateral for CreditSelect Loans.
CreditSelect has been so well received that we have had to restrict its availability to just a handful of quality introducing intermediaries throughout the world
.
NMR DISPATCH AUTUMN 2001

 

Rothschild Equity Release Claim to be Filed Before End 2012

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Members of the ERVA are to file a group action against Rothschild for misleading publicity, in respect of the Equity Release, at the provincial Mercantile Courts of location of the property affected.

Legal grounds for bringing such an action are 2, mainly:

  • Deceiptful message¬†in respect to the promised benefits of “creating a debt” on a property with the purpose of minimizing or eliminating Spanish Inheritance Tax.
  • Deceiptful message¬†in respect to the promised guarantee that the investment, which is said to be held outside of Spain (obviously to cheat the tax authorities) is guaranteed 100%.

The claim, which is to follow the same format as the Nordea Claim, is to be filed on the 20th of December 2012.

Other than that, we would not wish to miss this opportunity to briefly comment on the attached information, one of many examples of abundant tax-evading publicity that Rothschild produced.

A calm and unflustered Steve Dewsnip, a prominent Rothschild figure when the scheme was going strong on the Coasts who is currently doing other things, spoke and wrote like a Spanish Inheritance Tax expert. Far from it, the man was just clueless.

But the worse we think was the use of an unsettling word, “bespoke”, to ill-define the nature of this absolutely commoditized deceiptfully predatory product sold to pensioners, without distinction and without, of course, any semblance to the meaning of it.

 

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