Sydbank is the worst Equity Release offender, by far, in terms of lack of regulatory compliance for the laws in Spain.
The list below shows the shocking contempt displayed by Sydbank for the host country’s laws when offering the tax-evading Equity Release to British unencumbered properties owners living in Spain:
- Never registered in Spain, at all, to provide any service, banking or otherwise.
- Opened office in Fuengirola without authorization.
- Used unregulated unqualified agents to capture customers.
- Sold tax-cheating products pretending they were fully regulated for Spain, when this was totally untrue.
- Offered customers Belize-based companies to conceal the investments from the Spanish authorities, a la Lord Ashcroft, operating from the Sydbank Switzerland base, but made it out to be that it was the customer who was instructing the bank to do so.
All of this has already cost them dearly: the Sydbank branch who signed the attached last page of the risible missive was closed down following the spate of damning articles, openly accusing the entity of tax evasion, published in the Danish press.
Having read tis post, is there any doubt that Sydbank especially are guilty of criminal behaviour. Of course as has been reported they are not the only bank guilty of these acts. It is known from all the press, posts and blogs that are flying around the Internet that these Sandinavian Banks have systematically financially raped the British, Irish and other nationalities of their well earned retirement funds in both France and Spain. The French Group are now issuing criminal proceedings against Landsbanki in Luxembourg. Danskebank are under criminal investigation in Fuengirola. Nordea Bank SA have a criminal complaint being reviewed by the Provincial Court in Malaga. A judge in Paris has found Landsbanki guilty of criminal fraud. A judge in Barcelona has indicted the CEO of a Spanish bank for financial fraud. Another court in Spain in a civil case has ruled against Landsbanki. These banks are nothing more than criminal entities masquerading as banks. Pick up any National Newspaper today or switch the TV on, always some bank has been convicted of some financial fraud, alternativey they have agree to pay out vast sums of money, but of course they say we admit nothing. These types of fraud will not go away as the banks hope.