It is with profound regret and sadness that the ERVA has to announce the death of D.T., a member of our association.
D.T. and his wife J.T had taken a complex equity release product through Nykredit and Sydbank, via the company Offshore Investment Brokers (OIB) in the belief that it would help, lawfully, alleviate death duties whilst providing an income stream, to complement their pensions. OIB was not regulated to operate in Spain. Sydbank had never applied for authorization to operate in Spain.
Nykredit was the lender while Sydbank managed proceeds of the loan. Losses on the portfolio had risen to 60% and they faced losing their home, previously unencumbered.
The death of Mr. D.T., according to the doctors, had been caused from a cerebral aneurysm precipitated by high blood pressure, a condition directly related to psychological stress.
The couple were residing in Mijas.
At ERVA we would like to thank D.T. for all his support. Our deepest sympathy goes out to his family. May his memory be eternal.
I am so sorry to read of this poor man’s passing. I feel I know exactly what he was suffering. My heartfelt condolences go to his family. May I ask what is being done about OIB’s role in this terrible state of affairs? Particularly that of David Driver?
Stuart Langan on tel 952 798 002 in Estepona is the successor of Mr Driver whose phone number is +44 7856 824704
Hello John, it is widely acknowledged that OIB was co-responsible of the damage caused to Equity Release victims, but equally we know that there is no such thing as professional indemnity insurance and as a consequence, the efforts are being directed against banks that moved well beyond what was expected from them legally speaking but also too, from a social/ethical responsibility role.
It is believed that David Drive is in the middle-east.
This sort of thing is awful, what a way to end up in retirement. How do these people sleep at night?
I cannot understand how a firm of advisers, in this day and age, can be allowed to practice without suitable professional cover. Let’s hope that the other victims get some satisfaction as soon as possible.
As for Mr Driver, I think it would be easy to make contact with him at his new place of employment. There is an article about his appointment here-
http://www.international-adviser.com/news/people/atsg-names-head-of-sales-for-middle-east
Driver is contactable at ATSG funds
and if he sees this and they remove his number it is 44 (0) 7856 824 704
any other info needed on this person – i have it all here
My husband got a heart attack in the hospital after he lost a lot of money Danska Bank, sold him this investment and every month, we lost, we went to the bank office often and asked what can we do, this is not going as you told us, no problems everything is under control. We regret that we ever trusted the bank, hope we all get compensation from them.
Dear Sir/Madam,
I would be grateful if you could get in touch with me (afloresATlawbird.com) in respect of any documentation you may have, pertaning mostly to advertising, agents being used etc.
Best regards
Antonio