It was a matter of time before the efficient German state machinery got hold of banks selling tax-efficient insurance wrappers: in this case, Commerce Bank is the target.
So then, when is Jesper Hertz going to resign from his job, clear his conscience and implicate those who have forced him to sell the Capital Management Plan? Listen Jesper, all your past mistakes and regrets can be just that if you come out clean and openly confess to what your employer has been up to in the last few years, on the Costa del Sol, where a few hundred have been sold exactly the same product the German Prosecutor is angry about.
Jesper, ERVA has a list of all customers Nordea Bank Luxembourg sold Equity Release to (a product combining a mortgage on a Spanish property and a Capital Managed Plan Life Insurance Wrapper), that’s Spanish Land Registry efficiency for you -some things do actually work down here- and so, if and when the Spanish Prosecutor decides to quit defending the King’s daughter-in-law, your bank should be next.
This is exactly what Nordea have been doing in Spain. They have systematically, through their so called representative office in Nueva Andalucía, Marbella, targeted and sold their equity release product to unsuspecting British ex pat retired individuals. In fact they called this a representative office and not a branch of the bank, in other words they are not licenced to physically sell their products. However Jesper Hertz, true to form decided to ignore this law and continues to actively sell the products of not only Nordea Bank SA (Luxembourg) but also of their sister company and partner in crime Nordea Life & Pensions SA (also operating out of Luxembourg) Lets examine, precisely what they have been up to. All this information by the way I have obtained from previous posts on Nordea Bank. First Jesper Hertz, by way of his membership of Mirafores Golf Club and the banks continuous use of this clubs premises and his slimy way of creating friendships, embarked on a systematic pillaging of his friends. First he ascertained who had homes without mortgages, valued at 1 million Euro (he was not interested in less) I will explain in a minute. Next he would then tell them of this fantastic product which Nordea had designed (Equity Release) After frightening the life out of them, with tales of punitive Wealth & Inheritance Tax laws they or their heirs would have to pay carried on with the scam. Now he states by taking out a mortgage loan through Nordea Bank we can spirit this money away to Luxembourg (Tax Haven) by doing so you can avoid or mitigate both Wealth Tax and Inheritance Tax, basically as the mortgage loan is taken off the asset prior to calculating these taxes, thereby the Spanish Government can’t touch it. WRONG!! WRONG!! WRONG!! Mr Smart guy Hertz. As we have all read from this web site and seen the proof from the Ministry of Haciendas Binding Consulta state this is tax fraud. But there is more to this story. I continue. Now Mr Hetz states that the money created through the bogus mortgage loan, will now be handed over to their partner in crime, yes you’ve got it, Nordea Life & Pensions SA (Luxembourg) They will created a Unit Linked Life Insurance Policy on you behalf, aptly called “AN INSURANCE WRAPPER” by doing so you will not have to pay any income, wealth or IHT. What he conveniently forgets to tell you is that IHT is payable on Unit Linked Life Insurance Policies is payable irrespective of being a Spanish tax resident or not. It makes no difference. What happens now is, Nordea Life & Pensions give the money back to Nordea Bank SA who create a Managed Capital Plan and off they go merrily on their way to invest your money. By doing so the return on the investment would not only pay the mortgage loan interest, but provide a surplus of cash to supplement your pension. Are we not a clever bank then !!!!, not only do we make you money but screw the Spanish Tax Office as well. I mentioned earlier that Hertz, Nordea Bank & Nordea Life & Pensions, were only interested in properties valued at 1 million Euro. For the cheaper properties in the Alicante area, under 1 million Euro would be dealt with through agents, Swiss Life, Zurich would be the insurance entity. So let me reiterate. So far Nordea Bank SA & Nordea Life & Pensions and Swiss Life, Zurich haven’t managed to get on part right. Evidently this type of product is deem as tax evasion in Germany as well as other countries in Europe as well as the USA. It is also tax evasion in Spain. Equity release in this format has been around for some time, have we not read on this site that it was outlawed in the UK in the early 1990’s, in fact this was a much publicised case, eventually ending up in the “House of Lords” Every banking institution, including Barclays Bank, Rothschild, Surerenda Linked Mortgages must have been aware of this. Yet, they still chose to bring this tax evading product to Spain. As the post says, where on earth is the Spanish prosecutor and why is he not getting to grips with the likes of Nordea, Rothschild, Landsbanki, Sydbank/Nycredit. Can we not have a media splurge again on these banks.
Very enlightening. I just do not understand why Nordea Bank and all the others are causing so much grief for themselves. Do they not realise that Erva or their Lawyer, Antonio Flores of Lawbird Legal Services, Marbella will never give up the fight to get justice. It would be a simple matter for Nordea to get in touch with the lawyer acting for their clients, settle the matter and at least have this go away for them. The bank is not bigger that the law and eventually they will be brought to account.
This is very good news that the German Banks have caught on to the situation of tax evasion in their own country as well as Spain, France and UK.
Danske Bank, Jyske Bank, Rothschilds and Barclays have all been offering a similar service to old age pensioners with all the same conditions, retired, property free from mortgages, wishing to avoid or reduce their Inheritance Tax liability for their heirs. What a good idea to reduce the paper value of your property by the amount of the mortgage, have that invested in a tax haven, Luxembourg, the income from the invested amount pays the mortgage, commissions to the managers, pensions to the officers , gives the pensioner a cash lump sum and an income. Too good to be true? Yes it was. In the case of Danske they managed to lose 85% of the sum in seven years. So in Spain since there appears to be around several hundred victims of these scams the tax office (HACIENDA) would stand to lose around 25 millions of euros on tax since the money was in Luxembourg. Furthermore these banks chose clients of a senior age who would probably die before any of their mismanagement was uncovered.
Thanks to Antonio Flores and the Equity Release Victims Association (www.erva.es) we have slowly exposed this philandering by these corrupt banks. Now it’s up to the laws of Spain to bring these officers of these banks to Court to face the music and force them to pay back to the victims the money they stole and find themselves exposed to the public what they really are.
The Prosecutor in Spain has indicated that Danske Bank, who have appealed against their summonses to appear in court, MUST APPEAR AND MUST PAY COURT COSTS.
Sods —– Law.
Dec.—- 2014.
For almost two decades we have strived to get justice for the injustice we have suffered at the hands of a world renowned bank— PICTET & CIE. BANK.
Two yorkshiremen both running their own small family businesses trying to resolve the problem by taking all the correct legal procedures to recover their monies.
The matter was raised in Parliament – twice– the FSA investigated the matter concluding that PICTET had rogues operating in their London Bank — but the rogues had left —saying no one left to prosecute.??? —– so there.
We then approached the Financial Ombudsman Service. (FOS) — our case was dealt with by seven different people —- then our numerous E-Mails were ignored — nobody would speak to us ——-so there.
We then asked the SFO ( Serious Fraud Office.) to investigate our case —- the criteria of our case ticked all their boxes. — we were instructed not to send them
any documents/evidence.—— in fact they wrote to us advising us to go to the Citizen’s Advice Bureau.(CAB.)
Richard Alderman the SFO boss —- who responded to our letter was the same man who would not investigate the “ Madoff” scandal or the “Libor” fiasco.
The MP’s committee —- said he was sloppy— and the SFO was run like “ Fred Karno’s Circus” —– it was an office of fraud.—– so there.
Our M.P. approached our local Chief Constable to investigate—– he was called—- Sir Norman Bettison— Chief Constable of West Yorkshire Police —- a force that made “ Dad’s Army” look like the S.A.S. They were inept – corrupt —malicious — from top to bottom. We were criminally dealt with by the Forces Solicitor—- the Head of the Economic Crime Unit —-and the Chief Constable —– so there.
We were then advised to pass our complaint against West Yorkshire Police to the I.P.C.C. – which we did — they advised us to make our complaint to —- the West Yorkshire Police — we did with reluctance — all we got was abuse and obfuscation. —– so there.
Sir Norman Bettison —- The Forces solicitor— and the Head of the Economic Crime —- have all been removed from their posts and facing criminal allegations.
—— so there.
We even sought justice through the Courts — culminating in a visit to the Court of Appeal-London.— On leaving the Courts of Appeal that day our barrister a “rising star” informed us — that if that was British Justice then you can keep it. He quit the law and moved to Canada —– so there.
A few years later we learned that one of the judges ( Lord Justice.) in our case at the Court of Appeal was related to a senior executive of the Pictet Bank —–so there.
The Ministry of Justice passed our case to Lord Myners to investigate — we would rather have had Mickey Mouse or Donald Duck do it. — to this day we don’t know
—whether he did anything or not —- probably not — seeing that his wife was on the Pictet Prix Board.
Pictet & Cie .Bank — voted private bank of the year 2013.
Ivan Pictet —- Voted banker of the year 2012. —- the senior partner — lied on numerous occasions and had documents destroyed — also said genuine documents were forgeries. —– so there.
Ivan Pictet in Oct. 2013 —- Given the Legion of Honour — but saying that —- honours were given to Hitler — Eichmann — Mussolini —Franco — he’s in fitting company. —-so there.
MONTY RAPHAEL.Q.C. — Peters & Peters.London. They were the banks lawyers.
Monty Raphael.Q.C. along with Ivan Pictet withheld crucial documents requested by the High Court —- the FSA —- and the police Fraud Squad. —-so there.
Monty Raphael.Q.C. became an Honorary Queens Counsellor in March. 2012.
Monty Raphael.Q.C. became a Master of the Bench in Nov.2012.
An expert in Fraud —the Doyen of Fraud Lawyers. —– so there.
This says a lot about Banks — the consensus of opinion is that they are highly paid “crooks” —- no wonder they voted Ivan Pictet banker of the year.
It appears that crimes in the “establishment.” are honoured by their peers.
“HONOURS AMONG THIEVES.”
Full Story.—- “google ”
Insert.—– The Crimes of —– Pictet & Cie Bank.
or insert
Ivan Pictet/ Monty Raphael Q.C.
Update — Dec… 2014.
Full Story— “Google ” —- The Crimes of —–Pictet & Cie. Bank.
1996 —– F.S.A— Breach in London.
2003 —– F.S.A. — States rogues operating in Pictet’s London office. Ivan Pictet
states that documents were forgeries but were later proved to be genuine in
the British Courts. He had documents destroyed in their London office —
hoping to hide the crimes.
2007 .- – – The Securities and Exchange Surveillance issued a recommendation
that the Prime Minister and The Commissioner of the FSA to take disciplinary action against Pictet Asset Management – Japan Ltd.
2008 .– Dec. – Pictet Bank state – ” We have never chosen any funds linked to Madoff.
2011 – – – Madoff Trustees sue Pictet & Cie. Bank for $156 Million.
2011- – – Pictet & Cie Bank abetted a Bribery Scheme – Oil company sues Pictet for $350Million
2012 – – – April – Geneva Bank Pictet used in Offshore Tax Scheme. ( USA.)
2012 — – June. — Published in Anglo INFO .Geneva.— USA Trust Fund Investors were sent false and fraudulent documents by Pictet Bank in order to collect large fees. ( Like MADOFF)
Even after the SEC in the USA uncovered the fraud Pictet continued to charge fees and drain whatever was left in these accounts. Estimated that $90 million lost in this Pictet Ponzi scheme.
2012 – – – July. — De – Spiegel. — states – Pictet Bank uses a letterbox company in
Panama and a tax loophole involving investments in London to gain
German millionaires as clients.
2012 – – – August —- German Opposition Leader accuses Swiss Banks of “organised crime.”
2013 — Jan.— Swiss MP’ table motion to freeze Tiab Mahmud’s assets of ” criminal origins”
held in Swiss banks – $18 million held in 5 accounts at Pictet & Cie. Bank. Bahamas.
Ironically the Pictet & Cie.Bank partners are bigger criminals than the criminals who have accounts in the their bank.
The bank is now seeking to re-structure — to cut the partners liability – hoping to off load their decades of criminal responsibilty – and move onwards to carry out new crimes. The Germans are
right — the bankers should go to prison if found guilty of financial crimes.
Swiss Bank Accounts. Dec . 2014.
Is your monies safe in these accounts —- definitely NOT.
Would you get your money back if every body decided to withdraw all their accounts – NO WAY.
Economic Experts say that there would only enough money to repay 50% of their clients.
Are you going to be in the 50% — that loose your money.– Get it out NOW.
2012 — – June. — Published in Anglo INFO .Geneva.— USA Trust Fund Investors were sent false and fraudulent documents by Pictet Bank.Switzerland. in order to collect large fees. ( Like MADOFF) —Even after the SEC in the USA uncovered the fraud Pictet continued to charge fees and drain whatever was left in these accounts. Estimated that $90,000,000 million lost in this Pictet Ponzi scheme.
2012 – – – July. — De – Spiegel. — states – Pictet Bank uses a letterbox company in
Panama and a tax loophole involving investments in London to gain
German millionaires as clients.
2012 – – – August —- German Opposition Leader accuses Swiss Banks of “organised crime.”
All the fines that crooked Swiss banks have incurred in the last few years exceeds £75.Billion.
It is also calculated that the secrecy ” agreements” with regards to tax evation by their clients will cost the banks another £450 Billion.( paid out of your monies.)
The banks are panicking — the are quickly restructuring their banks —- from partnerships —
to ” LIMITED COMPANIES.” —– this will probably mean that in the future — they could
pay you only 10% of your monies ” if you are one of the lucky ones” —- and it be legal.
Peters &Peters – Partners.— (1999—2014)— guilty.
Pictet & Cie. — Partners. — (1999 — 2014)—guilty.
The bank and it’s officials/lawyers deliberately withheld crucial documents requested under a High Court order. The bank and it’s officials/lawyers deliberately withheld evidence from the Police, and one of it’s account managers Susan Broadhead gave a false witness statement to the Police.
Another one of it’s managers Nicholas Campiche ( Now Head of Pictet – Alternative Investments.) concocted a letter pretending to be a client and closed his account. The senior partner (Ivan Pictet.) sought to have numerous documents destroyed,along with those copies held in their London office’s of Pictet Asset Management. Initially stating that they were forgeries then their lawyers Peters & Peters – Monty Raphael Q.C.–and the barrister Charles Flint.Q.C. later had to admit in Court that the documents were genuine.
British Parliament. Hansard .29th March 2007.
Barry Sheerman .M.P.—quote.
———“ Constituents of mine have lost £2 million through fraud. The fraudster used Pictet & Cie – – a French Bank – – and Pictet Asset Management to back the fraud being perpetrated.””
Both Ivan Pictet and Monty Raphael.Q.C. conspired to withhold crucial documents requested by the High Court – the FSA — and the Police Fraud Squad.
Written Parliamentary Questions received by the table office ..
(1) To ask the secretary of state what steps he is taking to ensure that Swiss Banks such as Pictet & Cie do not evade criminal prosecution under EU law even when the illegal act is committed by a London based subsidiary.
(2)To ask the secretary of state what steps he is taking to protect the rights of UK citizens who seek redress following criminal activities by Swiss banks with subsidiary offices located in London.
*** We note that there has been a sharp increase in Peters & Peters partners leaving to go to other practices. Moving does not alleviate them of any responsibility from any illegalities that may have occurred at Peters & Peters during their partnership tenure. From 1999 onwards.
The consensus of opinion is the Pictet & Cie should be prosecuted , and that their U.K. banking licence should be taken away.
Their Solicitors at Peters & Peters .London “ struck off and prosecuted..”
*** Started campaign — June 6th.2008.
5 .5years —- approx 10 .5 million e-mails – – – but still no writs, injunctions or threats of litigation – – – WHY – – – because it is all true.
*** . The bigger they are — the harder they fall.!!!
In America —- they would have all been in prison for the last seven years.
Feb 2013,— Pictet & Cie Bank Partners remove their unlimited liability.
They realise that all their personal wealth is at risk , the people they have conned might want their money back.
Full Story.*** —” Google” —–insert.— Pictet & Cie. Bank.
or
Insert– ( Charles Pictet. Banker.
Insert– ( Ivan Pictet.Banker.
Insert– ( Jacques de Saussure.Banker.
Insert– ( Nicolas Pictet. Banker.
Insert– ( Jean-Francois Demole.Banker.
Insert — ( Philippe Bertherat. Banker.
Insert– ( Renaud de Planta. Banker.
Insert. — ( Monty Raphael.Q.C.)
Over the last eighteen months we posted the following on hundreds of sites . —
*** Were currently waiting for the West Yorkshire Police ;-
(1) Chief Constable . Sir Norman Bettison
(2) Forces Solicitor. Mike Percival.
(3) Head of Economic Crime Unit. Det Chief Inspector. Steven Taylor.
to see if they continue to cover up this case like the FSA. – “ watch this space.”
We can now state that all the above have been removed from their posts. All three facing criminal allegations.
These three senior police officers helped and assisted the Pictet & Cie Bank in keeping crucial criminal evidence from the High Court and Court of Appeal.