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Spanish Equity Release Fiasco

Exposing Danske Bank, Rothschild, Nykredit, Sydbank and Others
Home > Uncategorized > Swiss Choices: International Financial Planning at its Best

Swiss Choices: International Financial Planning at its Best

November 27th, 2011

The promotional literature by Swiss Choices Equity Release leaves no room for doubt when signing up the Equity Release obnoxious scheme. As they indicate, “do not make the mistake of leaving any action until the last minute…because you don’t know when this will be.

Developed by Graydon & Associates Costa Blanca S.L. in connection with Swiss Life (Liechtenstein) AG and BFI Consulting AG (whatever those initials stand for), according to the duo, “it was fine-tuned to provide current and future liquidity whilst ensuring the highest possible level of safety, privacy and asset protection.” . 

To cap it all, they declared that “this kind of long-term planning requires utmost solidity – the kind that only the time-tested and stringent insurance and banking regulations of Switzerland can offer”

This financial flyer needs to be read in depth because of the extraordinary record it holds: that of being able to insert one lie within every three words!

 

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  1. December 23rd, 2011 at 16:00 | #1

    It would appear that Swiss Life was the preferred choice of Nordea Bank who used Graydon Associates on the Costa Blanca for their equity release programme. It would seem that Nordea chose this route in Alicante area as the value of properties were very much lower than in Marbella. The average price of properties in this area and chosen by Nordea and their agents Graydon & Associates were around 300,000 euro. In Marbella where they only entertained properties valued upward of 1 million euro they used their own sister company in Luxembourg of Nordea Life & Pensions. Whichever way they chose leaves them with many problems and one big headache as the Public Prosecutor and Marbella Criminal Court have just accepted a private criminal complaint and will soon be issuing criminal charges/proceedings against several of Nordea Banks officers and employees including their President & CEO Christian Clausen, Managing Director of Nordea Private Bank Luxembourg Claus Jorgensen, the Chief Representative of Nordea Bank in Marbella Jesper Hertz and other employees of the bank. All these people are specifically mentioned in the criminal action.

  2. Anthony
    September 19th, 2017 at 16:19 | #2

    Hi all, does anyone have any update on the outcome of the people involved in the scheme and therefore where this leaves people that have been engaged in this equity release scheme? Any information or pointers to other articles welcomed.

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