Victims of the Landsbanki Equity Release scam have filed a complaint against the bank Landsbanki for criminal swindle.
The lawyers involved in the action, Bernard Maingain and Benjamin Bodig, have presented compelling evidence proving that retirees living in France and Spain, who had small cash requirements to improve their living conditions, were approached by the bank who in turn, offered to mortgage their properties in full and place the proceeds in investments that would generate enough to pay off the costs, and bring an income stream.
Far from it; according to the lawyers, upon examination of the product it would have been clear to the bank that this would have never worked because in fact, the proceeds were placed in highly speculative investments.
Mr. Maingain and Mr. Bodig were categorical: “A product that turned out to be highly speculative was in fact sold as a risk-free diligent-head-of-family-investment product.”
They conclude by calling to the European judiciary to put the means to assist victims and their lawyers in what is a flagrant financial scandal of European proportions.
We know what Nordea Bank Luxembourg will say about the part they played in this scam: “we deny any wrongdoing” and “the client always had the opportunity to seek alternative advice”. Certainly clients had the opportunity to go elsewhere to seek true and accurate advice, but they did not, they trusted their inherent Nordic values that John Mortensen and his foot soldiers boasted as capable of “differentiating them from their competitors”.
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Original Story: Luxembourg: Plainte au pénal contre Landsbanki (29-11-2012)
At last Landsbanki are being investigated and by the Luxembourg courts. That is really good news. Do you think erva might join in with this group and start criminal proceedings in Luxembourg against Danskebank and Nordea Bank SA both have been selling these equity release schemes in Spain. Are these schemes not the same or similar
This is indeed great news not only for the many Landsbanki victims but of course for all victims in Spain defrauded by Scandinavian banks operating from Luxembourg. The erva team are in constant touch with France and we will keep you informed as time passes. The lawyers both in Belgium & Luxembourg are very positive about the case and as one lawyer said. You know “We will win our case”. Our lawyers Antonio Flores and his team will no doubt reiterate this positive attitude. As Antonio has stated. We are in it to win it and we will win it. It is important that all our members keep posting comments on our site. It really does show that we are as one to all the organisations that are following our progress. This includes the press and the British Embassy in Madrid.
I think all the victims of Bank frauds coming out of Luxembourg and being ignored by Luxembourg, must join together.
This is a huge international case and it is surely time we all joined together with all the lawyers making co-ordinated efforts and not each doing their own thing for a few rather than by joining forces, doing a lot for many.
There are around 600 victims of these Bank scams and Luxembourg is where these schemes have come from and from where they have been sold and protected by their special Judiciary.
I believe we must join forces as this has gong on for far too long with Luxembourg paying no attention to any international crminal Charges. .