Danske´s John Lundskov golfing abilities ensured he could get many clients for his fraudulent Spanish Equity Release/Capital Assurance.
One of such clients has just passed away: he was Danish, just like Lundskov, and had sufficient funds to not have to beg, borrow, work or deal with evil bankers. And yet, he was sold the miracle product by Lundskov on grounds that his IHT exposure would be close to 80%.
His partner has now been left with a complicated situation: on the one side, she has documents from Danske Bank saying that this product is great to legally avoid taxes. On the other, Lundskov and Henrik Hjerrild Hansen are now nowhere to be seen when the tax thing is raised. And to make things even more complicated, the Spanish Tax Office has stated that under no circumstance is a loan a valid vehicle to avoid taxes in Spain, if it was not used to buy a home.
We will now formally demand from Danske Bank Luxembourg that they comply with their “tax avoidance” undertakings and foot the bill, as appropriate.
First I am sory to hear of the death of this victim and my condolences to the surviving partner. What a mess this will create, no doubt it will be yet another stressful and lingering court case. I am sure that this is the last thing this bereaved vicitm wants. One good thing is that they have the lawyer who is determined to see this unholy mess through to the end. As for Lundskov & Henrik Hjerrild, they are like rats deserting the sinking ship. Perhaps they should get their lawyers involved to submit the the neccessary IHT forms to the authorities in Madrd, and forget to tell them that the loan is somewhere in this wonderful tax haven/banana republic Luxembourg, just as Nordea Bank Luxembourg did with one of their clients, so we are led to believe on this web site. However I think the Tax Office is wise to this one now. Well Danske Bank your strategy of procrastination has worked. Yet another victim has died, no doubt as a result of stress related circumstances. If you keep this going for the next 10 years or so more people will die.
Looks like the strategy of Danske Bank, Nordea Bank, Rothschild and others including those victims of the SLM scheme is exactly that. Their hope is that they can delay the court cases so that the victims eventually run out of time and die. Totally disgraceful. They know at some stage that they will have to address the problem. On another topic, it would be interesting to have some of our members views on how their investments are now performing. As we know at the height of the so called stock market crash the FTSE went from around 6,500 points to 3,600 points. We now see the FTSE up around 6,600 points in fact the highest for some FIVE YEARS. Have the banks made up this increase. Any professional investment manager should by now, have made some wise investment decisions and managed to recoup the losses. From my part this is not the case. My investments lost 50% of their value. Have they been recouped. The short answer is NO in fact nowhere near it. The banks investment team cannot do it and they will never do it. This being the case there was never any chance of the investments covering the loan interest, let alone providng a return. I would be interested to hear of other peopls experiences. Lets start a forum and have every member contribute, a few lines will do.