Tag archives for Nordea Equity Release

93-Year Old to Bring Criminal Action Against Nordea Bank S.A.

No, we are not mistaken with the age of the soon-to-be claimant. She is very much 93 years old but  insists, quite rightly, that she still has a sharp mind; sharp enough to take on Nordea Bank S.A. for having encouraged her to buy the infamous CPM (Capital Managed Plan) Scheme.

The lady in question lives in Marbella and is of German nationality.

ERVA will soon report on case progress.



Nordea Bank S.A. Gave 44 Million Euros of Tax Evading Mortgages in Marbella

Tax-mitigation fan Mr. Claus Jorgensen, Nordea S.A. Managing Director, had no qualms about giving precise indications on how to reduce Spanish Inheritance Tax by reducing the value of a Spanish property with a Luxembourg mortgage.

In a letter that has arrived in our offices, Mr. Jorgensen confirmed to the Luxembourg regulator, the Commission de Surveillance, that it is better to have a mortgage than to not have one, and suggests that the Spanish Tax Authorities have confirmed the legality of the set up.

We now know that this is not true.

Working closely with Jesper Hertz, the ‘larger than life’ (literally too) Nordea representative in Spain commissioned with exposing the dangers of Spanish Inheritance Tax to trusting property owners in Spain, Mr. Jorgensen has managed to give out over 44 million Euros worth of tax-evading mortgages in Marbella alone, inducing customers to defraud the Spanish Tax Office by -potentially- 15 million Euros. 

Are the Luxembourg banking authorities going to turn a blind eye -again- to this obvious crime? They have had this letter since july 2010…can you not hear the clock ticking Mr. Juncker?


A Company Owned by the Mayoress of Marbella Took Out a Nordea Equity Release


The Spanish Land Registry has confirmed that a company owned by María Angeles Muñoz and husband Lars Broberg, Crasel Panoramica S.L.,  took out an Equity Release mortgage loan with Nordea Bank S.A., based in Centro Plaza, Marbella.

The mortgage loan capital was €3,100,000 against a property -used as collateral- valued at over 4,5 million Euros.

We cannot confirm whether Lars or María Angeles are keen golfers, the prototypical victims of Jesper Hertz, Nordea Representation Office Manager, but what we do know is that the property was purchased in 2001, and the mortgage loan signed in 2010 (maturing in 2020).

We also know that Nordea Bank S.A. has accurately explained, in a promotional brochure no longer available online since 15 days before the interim hearing in a case against them -for misleading publicity-  (although cached by Google without Nordea IT ‘expert’ expecting it), how to go about the business of cheating the Spanish Tax Office.

These are some of the conclusions that must have convinced the Mayoress to buy this product:

Today’s investor is more likely to have amassed a fortune through personal effort.


This booklet has been devised as a basic guide for this new breed of investor and in particular for investors affected by Spanish tax and inheritance legislation.


Failure to take sufficient action of Spanish Inheritance Tax (which may be as high as 34%, or even above 80% in certain situations) in the wealth-planning process, may lead to an unexpected and financially unpleasant surprise for the heirs.


Fortunately, there are ways of mitigating both the wealth tax and the inheritance tax at the same time, one of which is to take up a mortgage.


Borrowers may take up a mortgage loan either at the time of the purchase of a Spanish property or after having owned the property for some time.


Clients appreciate our Nordic values – they differentiate us from our competitors.


Our Nordic values: integrity, impartiality, honesty, directness, flexibility, commitment, treating clients as individuals, we can make the difference.


(We are informed that the Somalian Bankers’ Association has announced a job vacancy for an expert on Nordea values…Jesper can you help?!)

It is suspected that they took out the Nordea flagship ‘international wealth and tax planning’ product , the Capital Managed Plan (CPM).

The Spanish Tax Office warned against using this product to reduce Wealth Tax and more significantly, Inheritance Tax.

The question is thereby one: victims or accomplices of a tax fraud scheme?

If the former, they should report the bank to the authorities and where not, we must conclude that they are suspects of a potential tax fraud situation.

Nordea Could Lose Danish Banking License over CIBOR Scandal

Nordea Bank



The title of this post should make us ask the following question: what would happen in Spain if Nordea lost it’s Danish license? Probably not much in Spain because Jesper Hertz, the insatiable Nordea Bank S.A. Marbella-based employee, has signed over 200 Spanish Tax Office cheating mortgages on Spanish property and he intends that all loans are repaid back and where not, properties are reclaimed through the Courts.

He is a man on a mission!









Busy Nordea Bank Covered Spain with Equity Release

According to an envelope received in the offices of ERVA, Nordea Bank S.A. gave out 75 million Euros worth of mortgage loans in Spain.

It is not clear how much of it was used to finance property acquisitions (some of it was actually used correctly) and how much to defraud the Spanish Tax Office via the renowned Equity Release Scheme programme, consisting of a Spanish mortgage loan and a Unit-Linked insurance policy called Capital Managed Plan.

ERVA is aware that at least 6 Equity Release contracts exchanged in the years 2006-2008,  totalling 9 million Euros.

However, the Spanish Land registry tells us that there are far more, many more…

As an ERVA member put it: “My, my, haven’t they been busy…!!”


Strategic Asset Allocation: Nordea in Spain Trying to Wash Its Face

Spanish online journal El Confidencial has today published an article on Nordea Strategic Asset Allocation, under the following heading:


Sadly, little does the author know about the real predatory nature of this product, the careless and incompetent people that run it and the devious lawyers that protect it. Not to mention that, once you have been ripped-off, you will be told that Spanish regulators have no jurisdiction over Nordea activities in the country.

At ERVA, we think it is time to rename this product and have proposed the following:

  • Sourcing Assets Abroad
  • Stealing Abodes Abroad
  • Strategic Abode Allocation
  • Strategic Apartment Appropriation

Let us have your comments!

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