This is great news for all victims of Equity release scams Europe wide.
In France the big case starts in Paris May 2nd 2017. more on this in due course
BREAKING NEWS: BILBAO COURT NULLIFIES 12 SLM MORTGAGE LOANS WORTH 6 MILLION EUROS
Court 11 in Bilbao has invalidated 12 Equity Release IHT mitigation mortgage loans sold to the public bySL MORTGAGE FUNDING Nº1 LIMITED.
The Court orders the diverse Land Registries to remove the charges with immediate effect and nullifies, alongside, any and all contracts signed by borrowers with the Cheshire-based lender.
In addition, the Court has resolved that borrowers will not have to return any advance payments made by the lender and will be entitled to the return of any disbursements made as a result of these contracts.
The Court found that SL MORTGAGE FUNDING Nº1 LIMITED operated an illegal lending and investment service and likens it to a “civil fraud”, as it did without clearance from the Spanish banking and financial authorities and concludes that the lender deserves the maximum possible penalty, as per article 1306 of the Civil Code.
Pas de vacances à la Côte d’Azur pour Hamilius et Guillaume ?
Les incohérences judiciaires de la faillite d’une banque
La place financière luxembourgeoise a été éclaboussée par pas mal de scandales financiers et notamment les faillites bancaire. Il y lieu de mentionner à titre de fins exemples les éclaboussements dus aux agissement du Ministère des Finances de nos Gouvernements successifs (souvent sous la houlette de l’actuel président de la Commission Européenne JC Juncker) de ce qui pudiquement se nomme les rescrits fiscaux : en somme affaire Luxleaks ou vulgo les tax-rulings , mais aussi les implications des acteurs du secteur financier dans l’affaire Madoff voir, les déroulements des faillites des banques islandaises pour ne nommer que ces évènement qui ont marqué profondément ces dernières années.
Les faillites bancaires et surtout la faillite d’une banque en particulier : la Landsbanki Luxembourg a mis au jour les agissements de certaines égéries du lucre et de la magouille financière à ce qu’il semble.
De quoi s’agit-il : Le régime des faillites au Luxembourg fait appel à des lois et règlements surannés, articles du code de commerce, dont certains ont plus de 100 ans, qui exigent qu’en matière de faillite il y a un juge–commissaire qui prend les rênes et nomme des liquidateurs, le cas échant pour la basse besogne de liquider les banques. Il faut signale de suite besogne bien rémunérée, car les liquidateurs touchent un pourcentage juteux sur les créances qu’ils peuvent récupérer. Donc un intérêt direct de faire de l’argent en récupérant un maximum sans trop se préoccuper de l’intendance des liquidations. D’ailleurs ce se sont presque toujours les mêmes trois-quatre avocats- liquidateurs désignés jadis par presque toujours la même juge-commissaire, le magistrat Karin Guillaume. Ce magistrat a donc désigné pour récupérer les créances dues de la défunte Landsbanki Me Yvette Hamilius. Elle fait partie du quarteron des liquidateurs « professionnels » de la place financière, pas des grands ténors du barreau. Hamilius, sans tarder, s’est lancée dans le recouvrement des créances sur débiteurs de la banque, nonobstant le fait qu’un liquidateur se doit d’étudier les agissements de la société en faillite. En clair des créances mal acquises ou par escroquerie, ne sauraient être récupérées par un liquidateur zélé car il se rendrait complice de l’escroquerie, voire de blanchiment de fonds. Or le liquidateur ne peut agir que de connivence, voir avec l’aval du juge-commissaire qui dans le cas sous hypothèse se rendrait complice lui aussi de l’escroquerie et du blanchiment de fonds d’origine criminelle.
Les deux dames concernées ne semblent pas avoir bien analysé ou ne se sont pas rendues compte que le produit de base vendu par la banque Landsbanki qui a donné naissance aux créances contre débiteurs fut un produit dérivé financier que tout professionnel averti aurait pu reconnaître comme un produit toxique, car structuré de manière à ne pouvoir générer le rendements qu’on a fait miroiter aux investisseurs crédules. A ceci s’ajoute qu’un produits était aussi illicite pour la vente à de simples particuliers d’après la Directive Européenne MiFID qui oblige les banques a catégoriser leurs client selon le degré de leur sophistication financière avant de leur proposer des produits à haut risque, mais dans le cas d’espèce triturés pour faillir.
Donc les deux dames ont persisté et ont continuées à récupérer des créances obtenus avec des moyens plus que douteux obligeant les débiteurs de la banque à rembourser lesdites créances mal acquises, voir en saisissant les immeuble des débiteurs récalcitrants et en les vendant à vil prix toujours pour récupérer de l’argent sur lequel la liquidatrice empoche bien entendu son pactole participatif avec la bénédiction de la juge-commissaire.
Or les victimes de la persécution en France ont pu se défendre et saisir la justice en France à l’encontre des agissements des deux dames. Après enquête minutieuse le juge d’instruction en France a cité devant le tribunal correctionnel de Paris la liquidation (i.e. Me Y Hamilius) pour escroqueries, abus de confiance etc. Certes il y a lieu d’attendre le verdict, mais toujours est- il que le dommage résultant d’une condamnation plus que probable va éclabousser la place financière du fait de l’agissement de ces deux égéries du lucre et de la magouille financière.
Et ce qui rend l’affaire encore plus cocasse c’est que Madame le juge–commissaire vient d’être nommée par le Gouvernement au Conseil de résolution (les banques en difficultés) et au Conseil de protection des déposants et des investisseurs de la CSSF, organisme en charge de l’administration du système de garantie des dépôts. Nonobstant le fait que le verdict du Tribunal correctionnel de Paris risque de mettre sérieusement en doute ses capacités en la matière : d’aider les banques en difficultés, voire de protéger les investisseurs, surtout s’il y a un lien avec blanchiment des fonds criminels possible, si l’escroquerie est confirmée par le tribunal correctionnel de Paris. D’ailleurs Me Hamilius se trouvera dans de sales draps aussi car complicité pourrait être retenue du fait de son acharnement de récupérer des fonds obtenus par escroquerie et de de ce fait aussi blanchiment d’argent d’origine criminelle accessoirement. Donc les deux égéries devraient faire attention avant de se rendre dans le midi de la France sur la Côte d’Azur durant l’été ; si le tribunal de Paris va conclure sur tout ce qui précède, sans parler du dommage pour la place financière de Luxembourg qui devient de plus en plus une place de misère pour les investisseurs. Un bon sujet de conférence pour Luxembourg for Finance lors d’un prochain voyage promotionnel.
Signalons encore pour conclure que les victimes des agissements de ces deux dames n’ont pas pu obtenir justice au Luxembourg, leurs diverses actions en justice ayant toujours été récusées, tandis qu’en France leurs doléances ont trouvé des oreilles plus compatissantes auprès de la justice républicaine française.
Please go to our Group Press Releases tab to see the last releases. Last one was 13th April 2016
ARTICLE BY VALERIE PUJOL IN PAPERJAM, JANUARY 2016
PART I. ——The ONGOING SAGA of the LANDSBANKI Case
THE STRATEGY of EXHAUSTION
of Veronique POUJOL – PAPER JAM article 01/2016
The ONGOING SAGA of the LANDSBANKI Case : Translated in 2 parts followed in PART III by Comments, documents and personal experiences of victims of the abhorrent conduct of a lawyer who has been told she is “IMMUNE” in Europe.
The German version will follow.
THE STRATEGY OF EXHAUSTION
FACE – to – FACE
The liquidator has her files.
The victims’ lawyers are getting impatient.
Despite the LANDSBANKI case being sent to Criminal Correctional Court in Paris, the liquidator is pursuing the clients in the Luxembourg Courts.
The season of judicial seizures is resumed against the clients, but now with the risk of incurring charges of money laundering against her.
The liquidator of Landsbanki Luxembourg, Mrs Yvette HAMILIUS, continues to play with the nerves of the victims of the Luxembourg bank, which was referred to Correctional Criminal Court in late September.
The trial is opening in Paris and yet everything is happening as if this Criminal proceeding and the freezing order on all foreclosures on real estate property ordered by judge Renaud Van RUYMBEKE, has no impact of any kind on the implementation of Civil proceedings in Luxembourg.
However, by trying to realize her demands , as she has done for several weeks, and to recover funds that could be issue of fraud, the liquidator is exposed to the risk of conspiracy in money laundering operations.
This is exactly what the Luxembourg judges concluded in July 2014 in the Chamber of the Council of the Court of appeal:
“With regard to the crime of money laundering that the liquidator of the financial institution Landsbanki Luxembourg (…), was charged with, it must be stressed that the quality of liquidator confers no criminal immunity.
“In the light of the indictments that took place in France, as shown in the ruling, there is already evidence to suggest that the marketing of the financial product Equity Release has been operated by dishonest means qualifying it as fraud.
“The judges underlined the fact that the criminal “offence of money laundering is also punishable when the primary offence was committed abroad”.
Even this sword of Damocles hanging over her head does not seem to bother Mrs HAMILIUS, who stubbornly targets certain victims.
Claiming that the civil Case is now to be in Luxembourg Court by judicial constraint, demanding full repayment of the Toxic Equity Release loans, after failing in ‘softer’ methods and having no response from the former customers of LANDSBANKI, the liquidators lays herself wide open to criticism.
This has become almost a personal vendetta;
” She wants to go to Court for herself, for her reputation, forgetting that she is an auxiliary of justice and that her personal pretentions must not enter this case “, states one of the victims’ lawyers.
The approach and methods of the liquidator, display, in his eyes, both a disdain for foreign judicial decisions, but is also a manoeuvre of ” exhaustion” of the customers of LANDSBANKI, who cannot all be called young.
This sword of damocles above his head does not seem to impress mme hamilius, who insists against some victims.
The Judges in Luxembourg :..” The offence of money-laundering is also punishable when the primary offence has been committed abroad ”
In view of the indictments intervened in France, stresses the attêt, there are already some clues, permitting to believe that the marketing of the product financial equity release has been made in the middle of unreliable processes are likely to be of the qualification of scam.”
” the judges stipulate further that ” the money-laundering offence is also punishable when the primary offence has been committed abroad “.
Veronique Poujol Paper Jam January 2016
This sword of damocles above his head does not seem to impress me hamilius, who insists against some victims.
In demanding before the civil court in Luxembourg, by judicial constraint, the repayment of loans toxic, tell equity release, after having failed by methods more “Soft” unanswered on the part of the former clients landsbanki, the liquidator ready the flank To the review.
M is almost a personal vendetta; she wants to do a trial for her, for his reputation, forgetting that she is an agent of justice and that the claims own must be foreign to this case “, Considered one of the lawyers of victims. The approach of the liquidator testifies to his eyes, to the individuals of a certain disdain for the decisions of justice foreign, but re; Eve also a maneuver “épuisemment” clients of landsbanki, which are no longer all young people.
Part III follows…. The Famous Interview Yvette Hamilius In Wort. Read the 14 October 2014 edition
” this liquidation is a success”
WELCOME TO THE SITE OF THE VICTIMS OF THE LANDSBANKI LUXEMBOURG EQUITY INVESTMENT SCAM
HACKING OUR WEBSITE-AGAIN !
28th November 2015, hacked and taken down yet again for the 4th time this year. When will they realise that we are not going to give up until we win and receive the justice that is ours?
We are pleased to announce that yet again our Victims of Landsbanki Luxembourg Site is back after being once again, PIRATED and SABOTAGED, by those who do not want the truth to be exposed about the terrible abuse of consumers, victims of Financial Crimes in the heart of Europe. We believe that the terrible LAXITY over the Laundering of Financial Crimes is not helped by the fact that Luxembourg’s Jean-Claude JUNCKER, was placed as European President despite his terrible financial Crime-protecting Track record in his country.
Money Laundering and the Laundering of FINANCIAL CRIME is an important part of what is behind the FINANCING of TERRORISM and it must be stopped by the General Public, as we can see that most Politicians and Judiciary in Finance Centres in the heart of Europe, like Luxembourg, are too weak or too involved in the protection of the Big Finance behind their power, to care about the reputation of their countries, about the citizens or to be concerned about how they are contributing to destroying Peace, Democracy, Justice and Human Rights across the world.
Whistleblowers and Journalists must be protected by the PUBLIC, as the Judiciary and the Politicians are showing they are protecting the Crimes and abuses of the Finance Sector and not the interests of the general Public.
The world needs Journalists and Whistleblowers to protect Democracy, JUSTICE and Peace on Earth. We must have the Courage and determination to fight for proper Justice for ourselves and for Future Generations.
Sadly as a result of this calculated intrusion by our enemies we have lost a large amount of our historical data, probably intentionally. However we are pleased to say that although it has been removed we still have the data on record and will be reposting it in due course.
Taken from Sigrun Davistottir’s Icelog
After a French investigation, Landsbanki Luxembourg managers and Björgólfur Guðmundsson, who together with his son Thor Björgólfsson was the bank’s largest shareholder, are being charged in relation to the bank’s equity release loans. These charges would never have been made except for the diligence of a group of borrowers. Intriguingly, authorities in Luxembourg have never acknowledged there was anything wrong with the bank’s Luxembourg operations, have actively supported the bank’s side and its administrator and shunned borrowers. The question is if the French case will have any impact on the Luxembourg authorities.
In the years up to the Icelandic banking collapse in October 2008, all the Icelandic banks had operations in Luxembourg. Via its Luxembourg subsidiary, Landsbanki entered a lucrative market, selling equity release loans to mostly elderly and retired clients, not in Luxembourg but in France and Spain (I have covered this case for a long time, see links to earlier posts here). Many other banks were doing the same, also out of Luxembourg. The same type of financial products had been offered in i.a. Britain in the 1980s but it all ended in tears and these loans have largely disappeared from the British market after UK rules were tightened.
In a nutshell, this double product, i.e. part loan part investment, was offered to people who were asset rich but cash poor as elderly people and pensioners can be. A loan was offered against a property; typically, 1/4 paid out in cash and the remainder invested with the promise that it would pay for the loan. As so often when a loan is sold with some sort of insurance it does not necessarily work out as promised (see my blog post on Austrian FX loans).
The question is if Landsbanki promised too much, promised a risk-free investment. Also, if it breached the outline of what sort of products it invested in when it invested in Landsbanki and Kaupthing bonds. This relates to what managers at Landsbanki did. In addition, the borrowers allege that the Landsbanki Luxembourg administrator ignored complaints made, mismanaged the investments made on behalf of the borrowers. Consequently, the complaints made by the borrowers refer both to events at Landsbanki, before the bank collapsed and to events after the collapse, i.e. the activities of the administrator.
The authorities in Luxembourg have shown a remarkable lack of interest in this case and certainly the borrowers have been utterly and completely shunned there. The most remarkable and incomprehensible move was when the Luxembourg state prosecutor, no less, Robert Biever Procureur Général d’Etat sided with the administrator as outlined here on Icelog. The prosecutor, without any investigation, doubted the motives of the borrowers, saying outright that they were simply trying to avoid to pay back their debt.
However, a French judge, Renaud van Ruymbeke, took on the case. Earlier, he had passed his findings on to a French prosecutor. He has now formally charged Landsbanki managers, i.a. Gunnar Thoroddsen and Björgólfur Guðmundsson. Guðmundsson is charged as he sat on the bank’s board. He was the bank’s largest shareholder, together with his son Thor Björgólfsson. The son, who runs his investments fund Novator from London, is no part in the Landsbanki Luxembourg case. In total, nine men are charged, in addition to Landsbanki Luxembourg.
According to the French charges, that I have seen, Thoroddsen and Guðmundsson are charged for having promised risk-free business and for being in breach of the following para of the French penal code:
(Ordinance no. 2000-916 of 19 September 2000 Article 3 Official Journal of 22 September 2000 in force 1 January 2002)
Fraudulent obtaining is the act of deceiving a natural or legal person by the use of a false name or a fictitious capacity, by the abuse of a genuine capacity, or by means of unlawful manoeuvres, thereby to lead such a person, to his prejudice or to the prejudice of a third party, to transfer funds, valuables or any property, to provide a service or to consent to an act incurring or discharging an obligation.
Fraudulent obtaining is punished by five years’ imprisonment and a fine of €375,000.
Attempt to commit the offences set out under this section of the present code is subject to the same penalties.
The provisions of article 311-12 are applicable to the misdemeanour of fraudulent obtaining.
(Act no. 2001-504 of 12 June 2001 Article 21 Official Journal of 13 June 2001)
(Act no. 2003-239 of 18 March 2003 Art. 57 2° Official Journal of 19 March 2003)
Natural persons convicted of any of the offences provided for under articles 313-1, 313-2, 313-6 and 313-6-1 also incur the following additional penalties:
1° forfeiture of civic, civil and family rights, pursuant to the conditions set out under article 131-26;
2° prohibition, pursuant to the conditions set out under article 131-27, to hold public office or to undertake the social or professional activity in the course of which or on the occasion of the performance of which the offence was committed, for a maximum period of five years;
3° closure, for a maximum period of five years, of the business premises or of one or more of the premises of the enterprise used to carry out the criminal behaviour;
4° confiscation of the thing which was used or was intended for use in the commission of the offence or of the thing which is the product of it, with the exception of articles subject to restitution;
5° area banishment pursuant to the conditions set out under article 131-31;
6° prohibition to draw cheques, except those allowing the withdrawal of funds by the drawer from the drawee or certified cheques, for a maximum period of five years;
7° public display or dissemination of the decision in accordance with the conditions set out under article 131-35.
(Act no. 2003-239 of 18 March 2003 Art. 57 3° Official Journal of 19 March 2003)
Natural persons convicted of any of the misdemeanours referred to under articles 313-1, 313-2, 313-6 and 313-6-1 also incur disqualification from public tenders for a maximum period of five years.”
As far as I know the scale of this case makes it one of the largest fraud cases in France. As with the FX lending the fact that the alleged fraud was carried out in more than one country by non-domestic banks helps shelter the severity and the large amounts at stake.
Again, I can not stress strongly enough that I find it difficult to understand the stance taken by the Luxembourg authorities. After all, Landsbanki has been under investigation in Iceland, where managers have been charged i.a. for market manipulation. – Without the diligent attention by a group of Landsbanki Luxembourg borrowers this case would never have been brought to court. Sadly, it also shows that consumer protection does not work well at the European level.
AUGUST 10TH 2015
WE ARE PLEASED TO ANNOUNCE THAT OUR WEB SITE IS BACK IN OPERATION AFTER A PERIOD
OF 3 WEEKS. WE WERE HACKED BY INDIVIDUALS UNKNOWN DETERMINED TO KEEP US OUT OF
THE PUBLIC EYE. THIS IS NOT THE FIRST TIME THAT THIS HAS HAPPENED AND WE ARE
OBVIOUSLY A THREAT TO SOMEONE !
WE HAVE INSTALLED FURTHER SECURITY BARRIERS AND HOPE THAT THESE PROVE TO BE EFFECTIVE. THIS IS THE THIRD TIME THIS YEAR THAT WE HAVE HAD TO FIND A NEW HOST WILLING TO CARRY OUR SITE. HERE WE ONLY REPORT WHAT IS IN THE PRESS AND EVENTS AS THEY UNFURL IN THE PUBLIC DOMAIN. WE JUST REPORT THE TRUTH.
WHAT IS IT THAT WE SHOW ON THIS SITE THAT IS SUCH A THREAT TO THOSE THAT ARE TRYING TO STEAL OUR PROPERTIES AND INVESTMENTS FROM US ? IS THE TRUTH SO TERRIFYING TO THOSE FACELESS PEOPLE ?
LATEST NEWS FOR THE VICTIMS JUNE 2015
In Paris the case against the following will hopefully be
opening in the Autumn:
Torben Bjerregaard JENSEN
LANDSBANKI LUXEMBOURG (STE)
Morten Juul NIELSEN
As soon as we have further information we will be posting it here
WELCOME BACK TO THE SITE YET AGAIN !! I THINK THAT SOMEBODY IS RATTLED BY OUR EXISTENCE ON THE INTERNET AND I JUST WONDER WHO THAT COULD BE.
We were hacked again this May 2015 and off line for a couple of weeks. Thanks to the stirling work of those behind the scenes we are back and not only that just in time to be able to report on the forthcoming trial that starts on June 15th in Paris !!!
More detail;s follow on that in the next few days.
It is starting to look like corruption is taking a bit of a hit at the moment, long may that continue.
WELCOME BACK TO THE SITE February 28th 2015
Our site was attacked this week and we were taken down for 3 days. This action was taken by persons unknown although the information we received was that it had been caused by “Eastern Europeans” whoever they might be.
We cannot definitely prove it but we have our suspicions that this action was conceived within the very country with whom we are currently in dispute regarding the illegal scam put together by Landsbanki Luxembourg prior to their demise in 2008.
As we are all aware the courts in France have already seen enough evidence to commence proceedings against those involved in this scam which may well lead to imprisonment of those indicted for fraud and money laundering. Luxembourg in their wisdom, and in particular the administrator and the judiciary to whom she answers say that they see no fraud.
Evidence leading to this forthcoming court case has been painstakingly put together over a considerable period of time which has given the Judge enough evidence to feel satisfied that there is a case to be answered. If he can see this, then why cannot those responsible in Luxembourg see it.
Furthermore from within Luxembourg Dr Fred Reinertz, the Président of PROTINVEST has last week issued a press release warning of the dangers of investing in his own country a full text of which can be read on our press release page. A damning indictment from a highly qualified independent expert within the financial industry. Another very serious affamation that “We see fraud and money laundering”.
“Taking Down” our site will not be enough to shut us up. We are here for the long haul and are not going to give up just as justice is finally about to be done. It has been a minor inconvenience but we are back.
WITH OUR THANKS TO A GREAT TEAM DURING 2014 WHO DESPITE BEING CHALLENGED AT EVERY TURN HAVE NOT LOST THEIR FAITH IN ULTIMATELY SHOWING TO THE WORLD THE CORRUPTION AND FRAUD SURROUNDING THE EQUITY RELEASE SCAM THAT ENTRAPPED HUNDREDS OF PENSIONERS IN EUROPE. THEIR BELIEF AND COMMITMENT WE KNOW WILL ULTIMATELY WIN THE CASE.
THERE IS NOW ENOUGH EVIDENCE LODGED TO PROVE THE FRAUD AND DECEIPT THAT HAS TAKEN PLACE AND 2015 SHOULD BE THE YEAR OF SUCCESS FOR US ALL. TAKE NOTE IN LUXEMBOURG, WE ARE NEVER GOING TO GIVE UP OUR FIGHT.
OUR LAWYERS ARE OUR HEROS
We thank our lawyers from the bottom of our hearts and hope that many other young lawyers will follow their courageous example and time-consuming determination to serve truth and justice over and above finance and greed and that with the help and strength of INTEGRITY walking hand in hand with LAW and JUSTICE, the world will find it easier to become a better place. A world which refuses to be devoured by the monsters of Finance and the weak and colluding partners in the Financial terrorism of which the world has become a victim.
We thank the wonderful man, BERNARD MAINGAIN, a great and heroic Belgian lawyer of immense courage and un-daunting determination and devotion to serving universal justice and justice for all equally, with compassion, understanding and punch.
A person one can never forget or who can be brushed aside.
A brilliant lawyer and a man who is always busy and travels to help people across the world but who finds time for us, even though we can do so little for him.
We thank the extraordinary BENJAMIN BODIG a Luxembourg star, shining bright and full of HOPE for Luxembourg and Europe, of whom both should be proud as he sets the tone and the example in the face of the double brick wall of indifference and desire to thwart his efforts which one can see he is purposefully surrounded by.
Has Maitre Bodig thrown his hand up in despair and given up? NO he has not.
He has given us courage as if he, standing within Luxembourg, can rise up and fight for justice for us, then so can we and for that we thank him from the bottom of our hearts.
We thank the brilliant MAXENCE LAUGIER a French Professor of Law, a writer, a courageous, kind and compassionate defender of justice and a man standing tall in quiet determination to bring forward the truth, the evidence, the facts and to help others learn, respect, understand and appreciate the essence of Law and Justice and the importance of upholding it and making it’s importance felt by Europe.
A lawyer who has shone through all those who seek glory and reward above truth and justice and to whom many dozens of French victims owe their peace of mind and gratitude.
We thank Juan ESPEJO , a Spanish lawyer from the Martinez-Echevarria law firm with dozens of Spanish victims to defend, who is profusely thanked by all for his enthusiasm and determination to see Justice is served in Luxembourg and in Spain and that the gravity of this case is fully understood by Europe as it affects us all.
We also wish to thank ANTONIO FLORES of Lawbird, Marbella Spain, who will never give up his impressive fight to see that victims of Financial crime and so many are also Equity Release victims are defended, helped and supported in a very generous way and we thank him and the Erva site for keeping us all informed as information prevents us from feeling isolated and alone.
We thank all the other lawyers who are helping us and they know who they are and all our supporters in Luxembourg, the U.K., Iceland, Germany, Portugal, Spain, Italy, Holland and the European Union supporters and all those who have contributed to our site and our Facebook with articles and cartoons and who share our fight for justice.
We all wish you good health, every happiness and success in 2015!
LATEST NEWS NOVEMBER 2014
We have just been advised that a further three fellow victims in Spain have sadly passed away leaving behind them the chaos that this evil administration is inflicting on us all.
Our thoughts go out to the relatives that they have left behind. I cannot imagine the anguish that they have been through hoping desperately that a good solution would be found in time.
I really hope that those left behind after this sad loss are able to deal with the problems that they will have to face. Rest assured we that remain are doing everything in our power to bring this terrible fraudulent scam to a close.
Unfortunately there are some extremely powerful people who are able to bend the law to their advantage, at present. I believe however that as events unfold over the next few weeks and months they will find that they do not have the support that they have enjoyed so far.
I have faith that with this disgraceful scam good will ultimately win over evil.
August 22nd 2013
There is a sad announcement to make as yet another of our friends and victims has sadly died.
We all join in offering our condolences to their family and friends and expressing our sorrow at their loss.
There are many us who have not survived this ordeal and our hearts and prayers go out to their families and friends who have to bear so much.
Out of respect for everyone, we will be putting a list up of all these people as they will not be forgotten and we will continue our fight for JUSTICE in their name and help their families to continue with the courage they need, knowing that they are not alone.
GROSS NEGLECT OF ADMINISTRATION OF FAILED LUXEMBOURG BANK and it’s consequences
Gross neglect and persecution of victims has led to terror and psychological torture of pensioners and others, leading to serious illness and death. This was CRUEL, UNNECESSARY and TRAGIC.
Following the sad announcement that we had lost yet another of our fellow victims, we decided to assemble a list of all those who are paying dearly with their health or lives and who have been fighting for justice from Luxembourg and the administrator for 5 years along with us all.
It is with regret that we have to inform you that 14 members of our group have died since the Landsbanki bankruptcy in 2008.
There are many others, also victims but outside this group, who have also died, such as John Armstrong, who will always be remembered with affection and respected for their courage.
Mrs T died on the 22nd July 2013, following the death of her husband in 2011. The anguish and stress of being under the threat of losing their home was too much for them both.
Mrs T. was desperate to resolve this matter whilst she was alive, but was not given the opportunity.
Mrs T. is survived by a 15 year old grandson who now is left with the problem and has been advised not to accept his inheritance.
Mr P has relocated permanently to the UK and is now in a care home due to the onset of Alzheimer’s aggravated by extreme stress. His daughter, Jenny, is now in contact with us for help and advise.
Mr and Mrs B. The psychological torture of being under the threat of losing the home they had worked so hard for, was also too much to bear for the B couple.
Mr and Mrs B divorced because of the pressure the Landsbanki Luxembourg failure put on their lives and Mr B was unable to cope with the Landsbanki situation, the lawyers and documents and became a chronic alcoholic.
Mrs. McC attempted suicide. The actions of the Landsbanki Luxembourg administration made Mrs McC feel that she was a total failure and this led to the serious depression.
With the help and support of her family, Mrs McC is now undergoing therapy and treatment for the severe depression brought on by the fear of losing her home and of seeing that the mis-selling and fraud in the Landsbanki Luxembourg bankruptcy was being completely ignored.
Sadly, others have not been able to withstand the enormous psychological pressures they have been put under in what should be the peaceful years of their lives and have also gone into severe depression, needing medication and there have been other suicide attempts.
This is why we must stick together and support each other.
Mr and Mrs McK have been forced to move out of their home and move back to the UK to be with their family as Mr McK had a stroke and has since been diagnosed with terminal cancer.
Mr McK’s wife has developed Alzheimers due to the intolerable stress to which she has been subjected.
This situation would never have arisen if they were allowed to settle this matter several years ago.
Mr D is 91 years old and is losing his sight, also his health is deteriorating. Mr D HAS ONE MAJOR WISH AND AMBITION.
He would like to get a satisfactory conclusion from Mme Hamilius to the Landsbanki Luxembourg bankruptcy before he dies. This failed administration has recked the last years of Mr D’s life and those of hundreds of others of victims.
Mrs O’s husband died in June 2012. She has been left to sort out the devastation caused by the failure of Landsbanki Luxembourg and the failure of the administration to examine any of the criminal allegations under Luxembourg supervision for 5 years and now she herself has health problems.
Mr A is terminally ill and in a hospice in the UK. He moved back to the UK a few years ago because he was so depressed with the Landsbanki Luxembourg winding-up and wanted to move as far away as possible from this unbearable situation. Despite this move, the strain has led to terminal illness.
Mr O has lung cancer – diagnosed in November 2012. He is very ill and the doctors warn cancer patients about the damage excessive stress can have on treatment. It is however difficult for a person who has been under the threat of losing their home for 5 years, not to be under excessive and damaging stress.
This list continues in a later comment as the scandal of the Failure of the Landsbanki Luxembourg administration and the devastating effect it is having on hundreds of victims can no longer be kept in silence.
Luxembourg must take responsibility for the fact that many of these tragedies could have been avoided had the administrator acted in a proper manner and done her first duty as administrator making it her PRIORITY, as required, to examine the legality of the failed product and the Criminal allegations made by hundreds of victims for 5 years, which have been ignored.
GO TO LATEST NEWS AND COMMENT TO READ IN ENGLISH THE REPORT BY PROF ERIC BRIYS.
QUESTION: AS AN ADMINSTRATOR OF A FAILED COMPANY YOU ARE OBLIGED TO INVESTIGATE THE REASONS BEHIND THE COLLAPSE AND TO EXPOSE ANY WRONGDOINGS. THIS APPLIES TO ALL INSOLVENCIES. SO HAS THIS BEEN APPLIED IN THE CASE OF LANDSBANKI LU ? IT WOULD APPEAR NOT
BANKRUPTCY FRAUD WARNING SIGNS
1. Concealment of assets
2. Serial bankruptcy cases
3. Failure to keep usual business records
4. Incomplete or missing books and records
5. Conduct well outside ordinary business practices
6. Unusual depletion of assets shortly before the bankruptcy filing
7. Recent departure of debtor’s officers, directors or general partners
8. Unanswered questions or incomplete information on debtor’s schedules and statement of financial affairs
9. Frequent amendments to schedules, statements of financial affairs and monthly operating reports
10. Inconsistencies among recent financial statements, tax returns and debtor’s schedules and statements of financial affairs
11. Absence of knowledgeable officers to testify at meetings
15. Inflated salaries, payments of bonuses or cash withdrawals by officers, directors, shareholders or other insiders
16. Transfer of property to insiders, shareholders and relatives shortly before bankruptcy
17. Payoff of loans to directors, officers, shareholders, relatives or other insiders shortly before filing.
18. Transactions with non-debtor subsidiaries, parent companies or affiliated corporations owned by the same or related persons or entity.
FANTASTIC RESULT IN FRANCE
JUNE 2013, GO TO THE LAW TAB FOR THE LATEST VICTORY IN THE FRENCH COURTS.
When you have had a good look around this web site why not then also visit the Landsbanki Victims Govollux Facebook site.http://www.facebook.com/pages/Group-of-Victims-of-Landsbanki-Luxembourg-Govollux/605068499505134?ref=stream This is very informative and contains a wealth of information and news reports. Our aim is to make sure that our plight is in the public eye and that as many people as possible will see just how corrupt Luxembourg has been in its dealings.
Go to the MEMBERS area to read the harrowing story of just one couple who have fallen victim to this terrible scam. A scam created by evil people whose objective was to steal from those in our community who are THE MOST VULNERABLE.
Welcome to the Landsbanki Equity Release victims web site. Here you will be able to find easy access to press articles, responses from the Administrator, information from our lawyers, progress on our complaints in Paris, Luxembourg and Spain.
This site gives you an opportunity to form your own opinion in the case against Landsbanki Luxembourg. It is dedicated to the victims of the Landsbanki Luxembourg Equity Release scam that resulted in hundreds of pensioners facing the prospect of being swindled out of their homes and savings in England, France and Spain.
We feel that it should be made very clear at this stage that we are not wealthy individuals. With the exception of the well known singer in France who has fallen victim to this scam most of us entered into this scheme to try and make our pensions go a little further.
It has been suggested that we are all wealthy people complaining that our investments went wrong. Nothing could be further from the truth and already there have been cases of some of our associates being evicted from their homes and having to fall back on help from family and friends. This does not happen to wealthy people but it happens to us.
You will all have heard about the victims of LANDSBANKI ICESAVE but little is said about the forgotten victims of LANDSBANKI LUXEMBOURG who are mostly elderly retired pensioners who fell victim to the LANDSBANKI EQUITY RELEASE SCHEME. Sold as a win win investment for the retired.
The victims have collected documents, information, facts ,videos, all true since the demise of Landsbanki Luxembourg. The emphasis of this site is to give access to understanding this complex case and assistance through the minefield of court documents, newspaper articles, blogs, International reports and links to other Equity Release cases.
As victims we currently have two criminal proceedings in place one in Luxembourg and one in Paris for mis-selling, fraud, unlicensed soliciting, abuse of security level ratio and manipulation of clients funds.
We invite you to send in any information that you have gathered over the last few years that might be of interest to our members and that might further our cause to prove our case conclusively. All communication will be handled with the utmost discretion.
If you too have found yourself a victim of this scam and have not had contact with other victims please feel free to contact us.
If you are a member of the press and would like further information do not hesitate to contact us through our email address