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The Spanish Lawyer Online
The Spanish Lawyer Online

Spanish Equity Release Fiasco

Exposing Danske Bank, Rothschild, Nykredit, Sydbank and Others


Equity release schemes have proven to be a sham: more and more, lawyers and Courts are starting to view these products as deliberately deceiptful and criminal claims are being accepted by Spanish judges, given the horrendous losses they have caused to mainly risk-averse, retired and (jobless) pensioners. More often than not, they are facing losing their homes, and their life-time savings, to any of the following entities: Danske Bank, Jyske Bank, Rothschild, Nykredit, Sydbank and Landsbanki.

Latest Stories

Equity Release Fiasco: Gathering in Malaga on 09-04-2012

April 7th, 2012

As many of you already know, the ERVA has organized a gathering at the Malaga Tax Office (Avenida de Andalucía number 2, next to El Corte Inglés), Monday the 9th of April 11.30 a.m. (if wish to arrive earlier we will meet in front of El Corte Inglés at 11 a.m.), with the purpose of […]

ERVA Discusses the Legalities of the Denunciation to be Lodged at the Tax Office on 9-4-2012 (Video)

March 31st, 2012

Euan Armstrong and Antonio Flores discuss the denunciation to be lodged with the Spanish Hacienda, that is to be held on the 9th of April 2012, at 12.00 am, in the Delegacion de la A.E.A.T. de Málaga (map). Claimants will gather outside at 11.30 a.m. for a peaceful protest and it is expected that the […]

Danske Bank Luxembourg Agreed to Settle With an 85-year Old British Couple Not Before Extracting an Apology

March 19th, 2012

Klaus “Monster” Pedersen, the same high-flying executive who thought to be above-board to sell his Spanish tax-evading equity release products to old-age pensioners, preferably through Costa-del-Sol financial cowboys, promising them it was a miracle-product (only to later make the advice disappear from the company website), found that further humiliating his victims by extracting an apology […]

Spanish Equity Release Fiasco Legal Action – February 2012 Update

February 24th, 2012

Antonio Flores of Lawbird explains the next actions in respect of the Equity Release Fiasco Case. Antonio comments on the demonstration to be held on the 8th of April Monday, at the offices of the Spanish Inland Revenue in Malaga. This will be done prior to reporting/filing a “denuncia” against the banks involved in allegedly […]

Danish Government to Investigate the Equity Release Scam

January 16th, 2012

Early this week the Audiencia Nacional chose to reject the investigation of the “Equity Release” alleged fraud on grounds that include, on the one side, the argument that they lack “geographical” jurisdiction and on the other, that there is not enough evidence within the claim (250 pages) to merit starting a criminal investigation by their […]