Search:     Go  
The Spanish Lawyer Online
The Spanish Lawyer Online

Spanish Equity Release Fiasco

Exposing Danske Bank, Rothschild, Nykredit, Sydbank and Others

Archive

Posts Tagged ‘Capital Assurance’

How Danske Bank’s “Cautious Investment Strategy” Can Lead You to Lose Your Lifetime Savings

April 29th, 2011

“Capital Assurance”, among many other virtues, had one that stuck out over other products: it was a product that was sold to the clients on the basis that it followed a “cautious” investment strategy.

So when my client paid €1,000,000 to Danske Bank for safe custody, he blindly trusted the many undertakings made by the Danish entity: “IHT exemption”, “salary for life” and “Strategy: Cautious”, among others. The €1,000,000  is now reduced to €200,000, and with respect to the property that served as collateral, bank foreclosure judicial action is underway in the Courts in Coin.

The property happens to be the retirement Spanish home my client bought with his life time savings.

Documents

Uncategorized ,