For Sparlolland, previously Finansbanken A/S, selling a 2,5 million Euros Equity Release product to a Marbella-based artistic painter was a matter of discussion over a cofee, or two, at the Guadalpin Hotel.
We cannot even imagine what sort of bullshit was the poor man fed by Maria Tremurici-Falter, Marbella-based retiree that occupies her time doing anything from advising people on how to multiply their money by making the right decisions to organizing charity dinners, Michael “Mich” Weisz, a man that ran The Mortgage Company and is now awol, and Pernille Bering, from the bank.
The unfortunate life-changing meeting lasted, according to the bank, between 1.5 hours and 2 hours, time enough for a painter devoted to German expressionism to digest a course on Danish-bond historic performances, Luxembourg-based Lex Life insurance wrappers taxation and the real meaning of Security Coverage Ratios.
Next morning, he was sitting in front of a Notary Public, these useless social parasites who actually do manage to do their work correctly: check that your face matches that of your passport.
I am at a loss for words. They certainly took this guy to the cleaners. I wonder how long it really took for them to explain the intracacies of this scheme if they knew themselves, was any of these people experts to explain in detail. They don’t seem to be sure maybe it was 1 hour. Then the next day he had to sign at the Notary. Seems to me they were in a big hurry to get this deal done and dusted. I wonder if they gave him an early morning call and took him to breakfast to keep him occupied, just in case he had time to think about it. Now this is Predatory selling. Then they have the cheek to tell him he could have taken the documents to bed for a good read before he collapsed exhausted, both mentally and physically. You haven’t said what language the contract was in, but I bet you it was in English, just like all the other Luxembourg Banks do. If so, not only would you need a team of specialist lawyers, Insurance and tax experts to translate it for several weeks. Even today after several years, experienced lawyers and judges can’t make head nor tail of these highly confusing contracts. Perhaps that is why they don’t simplify them.
Having read this email a number of times I would agree with the post, how professional these Danish banks have become. My grandchild is aged six and could have written a better letter than this. Is it any wonder that these vicitms did not understand completely what was going on. The victims evidently have but a slight knowledge of English and the Danish author of this email isn’t much better. Now the converstaion I presume was in English, the contracts were in either English or Spanish or French (as this is the official language of Luxembourg) What language was used at the Notary to explain what was going on. Another question, as evidently the victims first language is German was everything translated to German at the Notary. How on earth can one expect to know the workings of this con trick with all these languages involved. Beats me I can barely understand English.