Opinions

 

Season’s Greetings from Anthony & Cie,
Anthony International and Anthony Investments’ Team
Our Season’s Greetings
and best wishes
for a happy and healthy New Year.
Bonnes fêtes
et une heureuse année 2016.

THANKS PROFESSOR ROBERT ANTHONY, BUT NO THANKS. YOU CAN KEEP YOUR FESTIVE GREETINGS.

Today in my email I received Christmas wishes from none other than ANTHONY & CIE. This is the French Financial advisor that sold me my great investment opportunity with LANDSBANKI LUXEMBOURG.

THIS is the firm that I hold primarily responsible for the enormous loss that I am facing of hundreds of thousands of Euros.
This is the firm that at the outset of the collapse of the bank in 2008 abandoned me and other investors in France and left us to weather the tempest that followed.

THIS is the firm that we believe received an enormous commission payment from Landsbanki Luxembourg for services rendered in selling their scheme to us and many others in France.

THIS is the firm that is responsible for stealing 7 years of my life leaving my wife and I to try and sort out the mess in which they left us.

THIS is the firm that has at its head none other than Professor Robert Anthony who is currently Mise en Examin in the Supreme Court in Paris, the hearing to be heard in 2016.

THIS is the firm to whom I return their Christmas wishes, unaccepted, and hope that Robert Anthony and his staff spend Christmas worrying about the outcome of the hearing in Paris next year.

They might then just get a taste of what we and our group of victims have gone through the last 7 years.

I will however send:
Our Season’s Greetings
and best wishes
for a happy and healthy New Year and a victory in the courts against the fraudulent activities of those involved with Landsbanki Luxembourg, past and present.

Bonnes fêtes
et une heureuse année 2016.

 

Ed.

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THE MORAL BANKRUPTCY OF LUXEMBOURG
“The present Luxembourg Government has not only TOLERATED these actions, but it also approved and FACILITATED them ” 

There can be

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________________________________________________________________________________

THE MORAL BANKRUPTCY OF LUXEMBOURG
“The present Luxembourg Government has not only TOLERATED these actions, but it also approved and FACILITATED them ” 

There can be NO JUSTIFICATION for LUXEMBOURG’S ARROGANCE and DENIAL of delinquency and moral bankruptcy, in it’s role as the ROGUE STATE in the heart of Europe, taking advantage of everything Europe has to offer in order to pretend to be a respectable member of the Union and to continue it’s LOOTING, as if there were:
“NO PROBLEM or sign of fraud in the files”

(The famous Luxembourg song- TOP of the HIT parade!)
interpreted by the Hamilius/Juncker cronies for years and accompanied by the orchestra of the judiciary, the politicians, ABBL, CSSF and the cowardly members of the press who were TOO KIND to those bringing down their country and refusing to look at the evidence that their country was being destroyed from INSIDE, by their own TOP and most powerful people in the Institutions who were MORALLY BANKRUPT.

As it states in the Polish newspaper RZECZPOSPOLITA,

‘Thousands of companies have systematically avoided paying taxes for budgets of individual EU Member States and this, with the help of the Grand Duchy of Luxembourg’,

“And as there is a lack of money in many states, Brussels has had to force countries such as SPAIN, FRANCE and ITALY, to REDUCE SOCIAL BENEFITS and expenditures in EDUCATION and HEALTH . (…)

THERE CAN BE NO JUSTIFICATION for Luxembourg’s disgraceful lack of humanity and ethics where everything
‘MADE IN LUXEMBOURG’ stinks of dirty laundry and looting made of the citizens of the world through greed, arrogance and lawlessness.

One simply cannot find any political justification for Luxembourg’s MORAL, FINANCIAL, POLITICAL and JUDICIAL dysfunction, which are clearly shown in so many scandals with such lawlessness in evidence, which Luxembourg’s corrupt- in- power, make disappear and the public does not know about as they are LIED TO.

LUXEMBOURG IS NOT INNOCENT, but the people of Luxembourg
are as seriously mis-informed as the people of Germany were before the war.
The financial Crimes are ‘protected’ and DENIED, whilst the consumers and citizens of Europe are made to suffer Luxembourg’s cheating and delinquent judiciary to rob the consumer.

LUXEMBOURG HAS ABUSE OF THE CONSUMER and corruption ON THE RISE, as the new government bitterly disappoints those who did not think it would live in Juncker’s pocket and be continuing to cover-up the crimes whilst pretending to want to come clean.
What COWARDS!
Juncker has always represented BULL CAKES.

From the suspicious way the nine or ten NO votes, from nations
NOT WANTING Juncker as E.U. president, were magically transformed into YES votes, one has to question his crafty methods of intimidation and seductive persuasion with offers one could not refuse.

We, the victims of Yvette Hamilus’ fraudulent administration of the Landsbanki bankruptcy, know all about intimidation tacticts, entrapment, harassment and the ‘Made In Luxembourg’, super-abusive CONFIDENTIALITY CLAUSES, like the one WIM PIOT the bumbling, guilty and LYING guy from PwC was clutching at, in the hilarious interview with Mme Lucet top French journalist of france 2!

The employees also know about the abusive confidentiality clauses to protect financial crimes, but they do not seem to realise that the obligation to denounce CRIME and false accounting OVERRIDES any confidentiality clause and places them , by failing to denounce, in a position of colluding with the crime!
They will learn.

Few could fail to know how corrupt Juncker’s little Luxembourg was under his reign and remains today.

Juncker had no credibility when made President of the E.U. and the world noted his mate-in-crime, guilty LUC FRIEDEN’s cowardly flight away from the crime scene to hide behind his façade of propriety in a foolish German bank in London, who thought he would be an asset when he is turning the bank into a GERMAN JOKE!

Who in the world would hire Luc Frieden with his dirty track record unless they liked the dirty laundry his baggage contains?

From the beginning of his mandate, the president of the European Commission had lost ALL credibility.

How can Juncker convince countries like France to reduce their budget, while he himself is greatly to blame, as a former Prime Minister of the lawless Luxembourg, for the huge DEFICITS in the budget of FRANCE? (…)

IT WOULD BE BEST THAT JUNCKER SHOULD RESIGN IMMEDIATELY

“The Luxembourg Government has not only TOLERATED these actions, but it also approved and FACILITATED”,

writes the German newspaper FRANKFURTER RUNDSCHAU :

“EVERYTHING IS LEGAL, says Luxembourg, and all the consultants who have entered into these unethical and illegal agreements in
PRICE WATERHOUSE COOPERS (…)

Imagine that the President of the Commission Juncker, should slap Greece on the wrist, for example, because Greece earns too little money, while spending too much.

Greece should then have to reduce the salaries of its officials, or even dismiss employees in the public sector (…)

Then you learn that a Greek company pays only 3% tax to Luxembourg and no tax, instead of a tax rate of say 30% in Greece (…) and all this with the HELPof the Minister of Finance of JUNCKER. »

I.E. LUC FRIEDEN who fled in a German bank in London!

The IMPACT OF OFFSHORE CAPITAL IS HUGE …

The MASSIVE DIRTY STREAM of offshore money both legal and ILLEGAL, personal and company /corporation money – can disrupt and destroy economies and nations, pushing them one against the other.

Europe’s continuing financial crisis has been fuelled by a Greek fiscal disaster exacerbated by FRAUDSTERS using offshore tax fraud and tax evasion facilities provided by Luxembourg, and a collapse of banking operations in the tiny tax haven of Cyprus, where the local banking assets were inflated by streams of cash from Russia.

Anti-corruption activists argue that the offshore opaque SECRECY, UNDERMINES public order and forces CITIZENS to pay higher taxes to offset the revenue that goes offshore.

Studies have estimated that border flows of the overall amount of financial CRIMES amount between $1 trillion and $1.6 trillion annually.

LEGAL and ILLEGAL…

Documents obtained by the ICIJ shed light on the day by day tactics on the agenda, that offshore services firms and their customers use to maintain in place the trusts and offshore companies, and thus keep the owners under a cover of legality.

The 15-month the ICIJ investigation found that, fraudsters and criminals and those seeking to evade tax, as well as a CORRUPTION policy, were allowed to thrive, un controlled, next to perfectly legal transactions.

The secrecy and the very LAX SUPERVISION offered by the offshore world, allows the perfect
climate, IDEAL for financial crimes, money laundering and fraudulent bankruptcy CRIMES and Europe’s main dirty laundry is located in the heart ofEuropee, Luxembourg.

 
 
 
 

 

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The Time Has Come. 
BEHIND- CLOSED- DOORS- LUXEMBOURG, needs to be investigated internationally.
We are victims of Luxembourg’s protection of Financial crime and corrupt judiciary in flagrant conflict of interests, where any honest lawyer is abused, as was the Luxembourg lawyer, Benjamin Bodig on November the 4th, as he fought to protect the hundreds of elderly victims of a Luxembourg bank’s Asset -Stripping to money laundering exercise, enabling Iceland’s crooks to get away with the collusion in the destruction of Iceland and world finance, whilst BLAMING Iceland and the USA for the world financial crisis.

This is a Rogue country in the heart of Europe, disguised as a virgin.

A country falsely disguised as law -abiding, when they fabricate their own interpretation of law, making a BARRIER to International Justice where even the president of the Central Bank BCL, YVES MERSCH, has been blocking any possibility of controlling or auditing the accounts during all the worst years of a world-wide financial crisis and where CLEARSTREAM was getting murkier and shiftier by the second and even moving to a free zone like the BCL where auditors are thrown out.

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10th November 2014 from our correspondent Claudia

The LANDSBANKI SCANDAL IS GROWING and Luxembourg IS Showing the world it is a ROGUE STATE IN THE HEART OF EUROPE.
” LAXEMBOURG” IS BEING EXPOSED!
Luxembourg’s judiciary is seen to protect FINANCIAL CRIME, its ROGUE lawyer Yvette Hamilius, and her cabale who expect protection from not only the President of the Bar ROSARIO GROSSO, but also from the President of the European Commission.

Jean-Claude Juncker, who was obliged to resign because of Spying scandals and crimes which had been hidden for years is President of the European Commission. How can this be possible when he enabled this cable to become ROGUE and continue to think they could do anything they wanted and the International community would say nothing if they had a carrot dangled in front of their nose or heard a few promises from Luxembourg.

We are victims of bank fraud, false accounting, false documents, falsehoods perpetrated in public to give the people of Luxembourg a false impression of the whole disgraceful scandal by painting the victims of serious financial crime through Luxembourg as if THEY were the criminals.

This is a scandal which does not only concern the European Commission, the whole European Union, but also all the major nations who have dealings with Luxembourg, as they have a right to know the truth before they make the same mistake we did by trusting in Luxembourg and investing in Luxembourg.

The international community should be able to see why it is that the Luxembourg Courts are refusing to investigate the false accounting we have in evidence and refute any collusion with those in power who are influencing this case and trying to make it into a Luxembourg
WHITEWASH of bankruptcy fraud, with serious probability of MONEY LAUNDERING through the Central bank which refuses (greatly helped by YVES MERSCH), to allow the Auditors to examine the accounts.
According to the doctrine enforced by Yves Mersch , he obstructed all attempts to enable accounting Transparency and proper auditing. This,throughout the WORST years of a world-wide financial crisis.

Apparently in Luxembourg, the BCL is “independent” and not bound by any laws or procedures, and is an entirely free agent!

How convenient to refuse to examine the Landsbanki Luxembourg false accounting, illegal transfers, abusive loans by the central bank and the wheeling and dealing by Yves Mersch and the SUSPECT, Mrs Hamilius, between the powerful rich in Iceland, the delinquent Icelandic banks and EAGER-to-please-Luxembourg with Clearstream and BCL keeping everything invisible?

TODAY, we see INDIGNANCE in Luxembourg for the world wide anger and shock at the cheating in the heart of the E.U. as Luxembourg takes all the benefits and reaps the profits!

There is growing FURY throughout the world as the fact that there are worse things than Tax Fraud in Luxembourg. There are fraudulent bankruptcies with strong probabilities of money laundering concealed through the false and missing accounting.

EUROPE is furious as Luxembourg is abusing consumers, abusing victims, abusing the law, abusing the European Union and abusing Human rights, abusing old aged pensioners, hundreds of them, ABUSING every person who has trusted in Luxembourg.

From our Facebook site 18th October 2014

WE WILL BE TRANSPARENT as Hamilius has said she is!

We will be exposing and explaining so that the people of Luxembourg get a chance to see what has been going on and how abusive Hamilius has been.

Firstly, one has to look at the facts around the job and duty of an administrator lawyer.

The PROFESSIONAL DUTY and LEGAL OBLIGATIONS of an administrator, receiver, curator, in the ‘SUSPECT’, ‘HARDENING’, ‘PREFERENTIAL’ PERIOD which Hamilius has ignored.

The ‘suspect’ period in a bankruptcy is fixed by the Court at 6 months prior to OFFICIAL date of bankruptcy + a period of 10 days before that which are subject to careful scrutiny and investigation by the administrator, receiver, curator.

The administrator has the Professional duty as stipulated in EU law:

1. To challenge and report any suspicious payments and transactions prior to bankruptcy,
2. To challenge and report any suspicious accounting which shows no dates or proper details of destination of Transfers or order of transfer by the client,
3. To report any allegations of false accounting
4. To challenge and report any loans given or taken during the ‘Suspect’, ‘hardening’ or ‘Preferential’ period, made prior to the bankruptcy, WITHOUT LIMITATION OF TIME.

Any one of these suspect events should ALERT the administration and lead to the IMMEDIATE recognition by the lawyers, in particular by the administrator and the supervising judges to the possibility of MONEY LAUNDERING and should be seen as clear signs of the LAUNDERING OF FINANCIAL CRIME, especially in an
ASSET-STRIPPING operation like Landsbanki Equity Release when the bank was probably already insolvent in 2006.

Failure by a Professional in the Finance and Legal Sectors, EVEN IN GERMANY contrary to what Hamilius trumpets, failure to report allegations and evidence of attempted Laundering of Financial Crime is a criminal offence and shows deliberate collusion in the crime.

It is the duty of the administrator to report abusive loans and last minute asset-stripping manoeuvres as well as abusive loans given , as she says, by Central Bank “playing firemen”, when the company, in this case, Landsbanki, is already insolvent.

Does Mrs. Hamilius the Luxembourg Lawyer who tells European judges what they should and should not do and assesses their work as if she were their boss, not know that it is illegal to
“play firemen” with other people’s money and throw it into a fire of an already insolvent company or did no one tell her?

This “playing firemen”, which Hamilius has overlooked as being against the rules and laws of bankruptcy has the very serious effect of
artificially DELAYING THE OFFICIAL DATE OF BANKRUPTCY.

This “playing firemen”, has the effect of making the Bankruptcy date UNCERTAIN and the ‘SUSPECT ‘, ‘HARDENING ‘ or ‘ PREFERENTIAL ‘ period INVALID.

In fact all the dates of the bankruptcy are not safe.

Guillaume and Hamilius created deliberate confusion around the dates of the Declaration of Insolvency, changing them and not announcing them in a Durable Medium as required by E.U. consumer Protection laws, perhaps hoping that in the Luxembourg ‘system’ of things they would get away with making most of the old pensioners “MISS THE TRAIN”.
In this way the old pensioners would lose their case and enable Hamilius to move in with the help of her useful obeying lawyers in France as that is where the virulent and abusive seizing has taken place.
This would make it so easy to realize the assets in France where the properties were of higher value in general especaillly on the Coté D’Azur where real estate price is high.
This would also bring any commission that may come her way and the applause of the central bank as she paid them back before others when they had “played firemen” against the advice of Claude Trichet and against the law as the bank was insolvent when they threw money at it.

Has Hamilius not been reminded that:

Payments made for transactions concluded during the SUSPECT or hardening period, are subject to CANCELLATION by the District Court upon proceedings instituted by the receiver especially in a case where a loan has been granted to an insolvent company and the Official date of Insolvency has been delayed and has made the official date UNCERTAIN in International law.

( i.e.Case of the bankruptcy of Landsbanki Luxembourg and the illegal loan by the BCL to the insolvent bank which artificially delayed the Official date of the bankruptcy, so making the ‘suspect’, hardening’, ‘preferential’ period invalid and the Official date UNCERTAIN)

The E.U. must be under ALERT when there is evidence of an abusive bankruptcy administration, especially in the administration of a Bankrupt Bank.
We are victims of TERROR tacticts and lies, harassment and intimidation in pockets, directed at specific targets in chosen countries and areas.

The terrain for Financial Crime in the case of a Bankrupt bank, is wide open to the possibility of the deliberate laundering of Financial Crime to mask serious International MONEY LAUNDERING.

When tactics like those used by Hamilius are employed to ensure she gets her own way, despite the law, Europe must be on the alert and examine the case carefully as there is more behind the Landsbanki Scandal that we think. there is Kauphting, there is Clearstream, there is evidence of spying and disappearing money.

In a Bankruptcy of a Bank, there is ample opportunity, through false accounting and fraudulent unauthorised Transactions and abusive loans, to create a deliberate confusion of accounts, enabling the deliberate confusing and mixing of REAL DEBT (clean money) with Issue of FRAUD or DIRTY money.

An administrator, lawyer, judge or other Professional bound by the Laws governing Professional duty, who fail to investigate and report serious allegations and evidence of FALSE ACCOUNTING and ABUSIVE LOANS, must sound the ALARM BELLS in the E.U.

The highest Courts of the European Union should be on ALERT and the International community must be made aware of where the strong possibility of LAUNDERING of Financial Crime which leads to MONEY LAUNDERING on an international scale, is taking place.

MONEY LAUNDERING is inevitably the possible end result of the clear signs of the ATTEMPTED LAUNDERING OF FINANCIAL CRIME, which is being denounced by hundreds of European pensioners, their families, friends and growing supporters across the world.
This is not only a European problem, it is an International problem taking place in the Financial Centre in the heart of Europe whose, ex PM wants more POWER and INFLUENCE in Europe!

Jean Claude Juncker is at the top of the EU and one of his protegés is behaving in a way which is not only disgracing Luxembourg, but insulting France and Germany’s Justice systems, insulting Luxembourg judges, telling lies in other countries, terrorising and using foul play on elderly European pensioners and breaching E.U. rulings.

What will he do about this? Will he pretend there is nothing wrong as he did in the other scandals?

Europe should be on ALERT and should ensure a full investigation of what lies behind the abusive Insolvency administration of a Bankrupt Luxembourg bank selling Toxic products which could never work, to European pensioners as an asset-stripping exercise.

This was all done under the full supervision of the CSSF who gave the products a passport of distribution across the E.U. but interestingly did not sell the Toxic product at home in Luxembourg!

Enough is enough Yvette Hamilius!

We will NOT BE INTIMIDATED and we know what you are doing and the tampering which is going on.

The Hamilius Landsbanki administration scandal is a continuation of the Secret Service Scandal and since Yvette Hamilius wants Transparency, she should have it.

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From our Facebook 9th April 2014

The PROFESSIONAL DUTY and LEGAL OBLIGATIONS of an administrator, receiver, curator, in the ‘SUSPECT’, ‘HARDENING’, ‘PREFERENTIAL’ PERIOD

The administrator has the Professional duty as stipulated in EU law,

1. To challenge and report any suspicious payments and transactions prior to bankruptcy,

2. To challenge and report any suspicious accounting which shows no dates or proper details of destination of Transfers or order of transfer by the client,

3. To report any allegations of false accounting

4. To challenge and report any loans given or taken during the ‘Suspect’, ‘hardening’ or ‘Preferential’ period, made prior to the bankruptcy, WITHOUT LIMITATION OF TIME.

Any one of these suspect events should ALERT the administration and lead to the IMMEDIATE recognition by the lawyers, in particular by the administrator and the supervising judges to the possibility of MONEY LAUNDERING and should be seen as clear signs of the ATTEMPTED LAUNDERING OF FINANCIAL CRIME.

 

Failure by a Professional in the Finance and Legal Sectors,
to report allegations and evidence of attempted Laundering of Financial Crime is a criminal offence and shows deliberate collusion in the crime.

 

IT IS THE DUTY OF THE ADMINISTRATOR TO REPORT ABUSIVE LOANS GIVEN TO AN INSOLVENT COMPANY WHICH DELAY THE OFFICIAL DATE OF BANKRUPTCY
so making the Bankruptcy date UNCERTAIN and the ‘suspect’, hardening’ or ‘preferential’ period INVALID.

 

Payments made for transactions concluded during the SUSPECT or hardening period, are subject to CANCELLATION by the District Court upon proceedings instituted by the receiver especially in a case where a loan has been granted to an insolvent company and the Official date of Insolvency has been delayed and has made the official date UNCERTAIN in International law.

( i.e.Case of the bankruptcy of Landsbanki Luxembourg and the illegal loan by the BCL to the insolvent bank which artificially delayed the Official date of the bankruptcy, so making the ‘suspect’, hardening’, ‘preferential’ period invalid and the Official date UNCERTAIN)

The E.U. must be under ALERT when there is evidence of an abusive bankruptcy administration, especially in the administration of a Bankrupt Bank.
The terrain for Financial Crime in the case of a Bankrupt bank, is wide open to the possibility of the deliberate laundering of Financial Crime to mask serious International MONEY LAUNDERING.

In a Bankruptcy of a Bank, there is ample opportunity, through false accounting and fraudulent unauthorised Transactions and abusive loans, to create a deliberate confusion of accounts, enabling the deliberate confusing and mixing of REAL DEBT (clean money) with Issue of FRAUD or DIRTY money.

An administrator, lawyer, judge or other Professional bound by the Laws governing Professional duty, who fail to investigate and report serious allegations and evidence of FALSE ACCOUNTING and ABUSIVE LOANS, must sound the ALARM BELLS in the E.U.

The highest Courts of the European Union should be on ALERT and the International community must be made aware of where the strong possibility of LAUNDERING of Financial Crime which leads to MONEY LAUNDERING on an international scale, is taking place.

MONEY LAUNDERING is inevitably the possible end result of the clear signs of the ATTEMPTED LAUNDERING OF FINANCIAL CRIME, which is being denounced by hundreds of European pensioners, their families, friends and growing supporters across the world.

This is not only a European problem, it is an International problem taking place in the Financial Centre in the heart of Europe whose, ex PM wants more POWER and INFLUENCE in Europe!

Europe should be on ALERT and should ensure a full investigation of what lies behind the abusive Insolvency administration of a Bankrupt Luxembourg bank selling Toxic products which could never work, to European pensioners as an asset-stripping exercise.

This was all done under the full supervision of the CSSF who gave the products a passport of distribution across the E.U. but interestingly did not sell the Toxic product at home in Luxembourg!

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March 13th 2014

This is unbelievable but absolutely fact. This is a clear abuse of a victim of this dishonest and fraudulent bank. It begs the question, why has the Adminstrator Hamilius not investigated this fraud with this client, and all the other clients of this scam. Please read this following transcript from Michael Equity and draw your own conclusions.

IS THIS FURTHER EVIDENCE OF LANDSBANKI FRAUD AND MONEY LAUNDERING?

by Michael Equity

The fraudulent activities of Landsbanki Luxembourg and the total ineptitude/apathy of the appointed administrator, Yvette Hamilius, continue unabated with the judiciary and the government of Luxembourg carrying on with business as usual as apparently “there is nothing wrong in Luxembourg”.

Are they blind or stupid or simply just corrupt?

In any language of any EU member state, theft is theft and is a criminal offence that should be punished according to the severity of the crime.

If you transfer funds out of a bank account without authorisation or approval from the account holder, then this is embezzlement/ theft. This is no different from walking into your local bank, producing a gun and demanding the contents of the safe.

Claus Thede, an ex account manager of Landsbanki and still at liberty in Luxembourg, does not seem to understand this principal, instead he attempts to convince the client that all is well in the liquidation process and the good administrator, Yvette Hamilius is continuing at full speed to resolve all issues.
Much of the facts of this particular case must be kept confidential at this stage for legal reasons, but we can reproduce actual text between the client and Claus Thede during the latter half of 2013.

The sum involved is 250,000 euros, which represents the client’s life savings.

Here are the extracts of the paper trail:

Client

I must ask you to try to remember why you purchased these bonds without obtaining my approval. We had a clear understanding that during the difficult market conditions we should remain liquid – hence the large amount of Euros we held in our account.

For some reason, without contacting me, you used this cash to make this very large and disproportionate purchase of very high risk Landsbanki’s own bonds. The purchase was four times the size of any previous investment, and outside the agreed portfolio!!

When I discovered the investment I tried phoning you several times, but was informed you were not available. A few weeks later they had no value.

Claes Thede

I am trying to remember a transaction that happened 5 years ago. Furthermore I am fully convinced that the Liquidator of the bank, who stands under the supervision of the tribunal, will correct the transaction if it has been made without your consent. The liquidation of the bank has been underway for more than 4 years now with a very good result so far.

Client

I appreciate your giving time to try to remember details of something that happened five years ago.

I agree with your view that the Liquidator should “correct a transaction if it has been made without your consent”.
She has also an obligation to review all transactions in the six months prior to her appointment. I brought to her attention the transactions that had been made without my consent, but clearly she did not take my complaint seriously.

Please confirm that she did not even contact you, as a senior Account Manager, to obtain clarification.

It is becoming more and more apparent that Yvette Hamilius management of the liquidation is questionable.

Client

As you can well imagine the use of almost a quarter million Euros in my Euro Account to purchase Landsbanki’s own Bonds totally undermined my Contract with the Bank. Naturally I drew the administrator’s attention to this misuse of the funds, expecting her to investigate the transaction.

It is now clear from your email that she did not even contact you to obtain an explanation.

I am faced with a conundrum that on the one hand Yvette Hamilius chose not to investigate this breach of contract; and on the other hand, you have no memory of it:

Claes Thede

I wish that I could be of more help to you and I can well imagine your situation. I will however not make a comment on the riddle you present.
There is an ongoing liquidation and that process has so far showed very good results. The liquidator is experienced and works under the supervision of the tribunal in Luxembourg. I do not know in which order they deal with the matters. An alternative explanation could very well be that your case is further down on the agenda.
To me it seems that there is little else to do than wait for the liquidator to make a contact.

Summary

The bonds illegally purchased were in fact in Landsbanki bonds that they were attempting to sell in the last few weeks of the bank with a promised return of 11%.

Now either Claes authorised the purchase of these toxic bonds himself and so empty the clients account, or he must certainly know who did. It is no use Claes now claiming the early onset of Dementia, as he cannot remember the small matter of stealing 250,000 euros. If he did not authorise the transaction himself, then as the appointed Account Manager, surely he must be an accessory to the fact as he was tasked with the responsibility of the welfare of the client and his assets?

Michael Equity

______________________________________________

Francesca de la Blaise writes:

THE DUTY TO DISOBEY ALL UNLAWFUL ORDERS A MORAL IMPERATIVE TO REFUSE ILLEGAL ORDERS NO ONE IS ABOVE THE LAW 

DID ROSARIO GROSSO, YVETTE HAMILIUS’LAWYER, forget part of the ‘THEORY OF THE INTELLIGENT BAYONET”,
when he tried to protect Yvette Hamilius and Karin Guillaume in view of the advancing Criminal proceedings across Europe in the Landsbanki administration scandal when he said :

“NO OFFENCE is committed when the ACT was ordered by law and ORDERED by the LEGITIMATE AUTHORITY ” ???

How many are those who obeyed the orders to OBSTRUCT JUSTICE and withhold the truth from the magistrates and to withhold the evidence that there was false accounting, embezzlement and fraud being withheld by all those working in the Landsbanki offices and all those presently obeying orders both as well as before and AFTER the bankruptcy?

Who is to blame for this OBSTRUCTION OF JUSTICE through the DELIBERATE withholding of evidence of crime in the Landsbanki administration case?

Do they think they did NOT breach the E.U. rulings and the law, simply because they were ORDERED to act UNLAWFULLY and in a breach of morals and ethics as well?

Do they too think they too are “PROTECTED” by the Juncker/Frieden and helping hands gang, who apparently were there to protect the Hamilius/Guillaume tandem?

LEGAL OBLIGATIONS & MORAL DUTY

Soldiers and all other professionals have legal obligations to follow orders.

However, ALL of these, also have both moral and legal obligations NOT to follow orders that are IMMORAL or ILLEGAL.

Questions of conflict between a man’s moral duty and his obligations to the state have been around for many centuries.

However, it must be noted that NO ONE is above the law and there is a moral imperative to refuse illegal orders.

A good example is that when former NAZI Adolph Eichman was tried for war crimes in Israel in 1962 his contention that he was merely “FOLLOWING ORDERS and DOING HIS JOB ” was not accepted.

While in Eichman’s case evidence was submitted that Eichman carried out his DUTIES with zeal , often going beyond what was required of him the inadmissibility of the
” JUST FOLLOWING ORDERS ” excuse was also NOT accepted at the Nuremberg trials of NAZI war criminals.

NO ONE IS ABOVE THE LAW.

NO ONE CAN FOLLOW ORDERS WHICH ARE IMMORAL OR ILLEGAL, WHOEVER GAVE THOSE ORDERS and think they are above the law and protected by those in power or the judiciary.

When receiving an order, as a REASONING person on has to identify a manifestly unlawful order.

One is obliged to respond not as a MACHINE but as a person, as a Human Being.

This means that instead of automatically responding to orders without thinking one must STOP AND THINK and use reasoning and judgement to decide whether or not the order is LAWFUL and MORAL.

Every person has to understand an order and needs to consider what the order means to him and to others and it’s consequences to him and others.

Then he needs to examine his conscience and establish whether or not the action he is being asked to take, or the consequence he is being asked to bring about is right or wrong and complies with his own moral values and standards.

If it does, he then needs to consider whether or not the order is within the law whether it is a criminal offence to obey the order.

ONLY AFTER THESE MORAL and LEGAL CONCERNS ARE ANSWERED CAN THE ORDER BE EXECUTED.

What is an unlawful order?

An unlawful order is:
a.) Any order which if followed will PUT OTHER PEOPLE’S LIVES IN DANGER, by harassment or psychological or physical abuse which could lead to mental harm or death.

b.) Any order which if followed will break the law.
c.) Any order which if followed will lead to the commission of a criminal offence.
d.) Any order to take part in an unlawful activity.

Landsbanki Luxembourg in administration is full of people obeying orders which break the law and all rules of ethics and morals and they are causing psychological torture and endangering the lives of hundreds of elderly people through harassment and intimidation as they follow the orders of a power-hungry administration Tandem that is OUT OF CONTROL for many years.

Enough is enough. It is time to say NO to INJUSTICE and ABUSE OF POWER in Luxembourg and anywhere else where ABUSE of power exists.

It is up to the Citizens to insist on JUSTICE when the judiciary is pretending there is “NOTHING WRONG”.

______________________________________________

27/01/2014

THE MiFiD RULING “DURABLE MEDIUM” REQUIREMENT 

The MiFID Regulations require certain information to be provided in a “DURABLE MEDIUM” when it concerns important information CONCERNING THE CLIENT.

Information that must be provided in a DURABLE MEDIUM includes information about conflicts of interest policy, information concerning client categorisation, periodic statements and all important information CONCERNING THE CLIENT.

Information that may be provided by means
of a website (where that does not constitute a durable medium) includes information to retail clients CONCERNING THE COMPANY.

A DURABLE MEDIUM is defined as “any instrument which :

a) Enables a client to store information addressed personally to that client in a way accessible for future reference and for a period of time adequate for the purposes of the information, and

b) Allows the unchanged reproduction of the information stored”.

Where information must be provided in a durable medium, it may be provided in a durable medium other than paper
if that medium is appropriate and if the client, when offered a choice between paper and that other medium, specifically chooses that medium.

Where information may be provided by means of a website and that information is not addressed personally to the client, firms must ensure that this is an APPROPRIATE MEDIUM in the context of the business to be carried out.

For the attention of lawyers and judges particularly in Luxembourg : Why has the Luxembourg administrator been allowed to breach so many MiFiD rules with no correcting supervision?

(N.B. Clients must NOT be made to
“MISS the TRAIN” and lose their case,
because the local administrator puts vital information in obscure press which hundreds of clients living in various E.U. countries, speaking different languages are unlikely to read!) This is a conflict of interests and a breach of E.U MiFiD law as most see it outside Luxembourg.

The company or it’s administrator can electronically notify and direct clients to a relevant website address.

However, clients must SPECIFICALLY CONSENT ( i.e. not all people have computers especially if their average age is 75 !) to receive the information in this manner and the information has to be up to date and continuously available on the webpage to ensure that the client may access it.

RETAIL clients must be given adequate information before they make an investment decision, to enable them to make a decision on an informed basis.
As RETAIL clients are regarded as being less experienced they are given more detailed information.
They must also be given such information IN DURABLE MEDIUM, ‘in good time’, BEFORE the provision of services so that they have sufficient opportunity to read and understand the specific information provided before taking an investment decision.

Industry practice will vary as to what ‘IN GOOD TIME ‘ will entail, depending of course on the nature of the product and the age and situation of the client and his income and what is REASONABLE in the circumstances..

The MiFiD ruling rules that RETAIL clients are to be given special protection, not specially bad service, abuse and criminal neglect by people who should be ENFORCING THE LAW, rather being allowed to break it.

_____________________________________________

WE WOULD STRESS THAT The DUTY to report all possibility of MONEY LAUNDERING OVERRIDES ANY CONFIDENTIALITY CLAUSE, to all those concerned.

The Money laundering Regulation effective from the 1st of March 2004 has put all professionals under a duty to report to the authorities wherever there are any grounds for suspecting money laundering is behind allegations and signs of suspicious transactions.

THE FAILURE of PROFESSIONAL DUTY TO REPORT and INVESTIGATE ALL POSSIBILITY OF MONEY LAUNDERING and any LINKED ASSET FORFEITURE, according to the E.U. rules signed and agreed to by each member state, is a crime punishable by imprisonment.

MONEY LAUNDERING IS the conversion or transfer of property, or asset forfeiture, knowing that such property is derived from serious crime, for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in committing such an offence or offences to evade the legal consequences of his action.

There is a CENTRAL AUTHORITY FOR REPORTING all suspicious transaction, false accounting or allegation of financial crime known to all professionals, in particular lawyers, judges, notaries and also all professionals in the Banking and Finance sector as well as their supervising authorities.

The first duty and obligation, by law, of anyone in the legal profession or the banking and Finance profession is to report any suspicious transactions or allegations thereof, especially in particularly suspicious transactions in events such as bankruptcies, takeovers or mergers.

All bank loans given to failed companies before bankruptcy must be regarded as suspicious as it is illegal to lend to an insolvent company and artificially delay the official bankruptcy declarations.
In such cases, this should arouse immediate suspicions and trigger investigation of the possible abusive support of share values and illegal deferment of insolvency, which can lead to money laundering through the bankruptcy proceedings using the repayment of the loan as a legitimizing tool in the money laundering process.

The Public Prosecutor for the Luxembourg Court, i.e. ROBERT BIEVER, must be informed of any fact that could be an indication of money laundering.
This is the duty of all professionals in the businesses covered by the E.U. legislation all E.U. members have signed.

The representatives, managers, employees and of course all lawyers, notaries and others in the legal and Financial sectors must report, by means of a declaration, as soon as possible and spontaneously, any suspicion of money laundering to the State Prosecutor with all information necessary and all allegations of suspicious acts or inaction that leads to possibilities of money laundering.

The obligation to report overrules professional secrecy rules as the E.U. ruling overrides internal rulings and is required by law.

BUSINESSES COVERED BY THE LEGISLATION

The obligation to inform the authorities of any suspicions of possible money laundering transactions now extends to the following sectors:

ALL CREDIT INSTITUTIONS

ALL FINANCIAL ADVISERS

BROKERS AND AGENTS

FUND MANAGERS

PROFESSIONALS ACTING FOR THEIR OWN ACCOUNT

DISTRIBUTORS OF SHARES IN UNDERTAKINGS FOR COLLECTIVE

PROFESSIONAL CUSTODIANS OF SECURITIES AND OTHER FINANCIAL INSTRUMENTS

MARKET MAKERS

BUREAU DE CHANGE

DEBT COLLECTORS

LIFE INSURANCE COMPANIES and INSURANCE BROKERS

PUBLIC NOTARIES

CASINOS and GAMBLING HOUSES

COMPANY AUDITORS

COMPANIES PROVIDING DOMICILIATION for OTHER COMPANIES

CHARTERED ACCOUNTANTS

CONSERVATION OF RECORDS AND DOCUMENTS

Commercial documents and accounting records must be conserved for 10 years.

Documents must be conserved by financial sector professionals for at least 5 years after the relationship with a customer has been terminated, without prejudice to longer periods of conservation imposed under other laws and when Criminal investigations are taking place in other E.U. countries concerning the documents and accounting records.

ALL PERSONS in the professional capacities listed above, have a duty and a legal obligation of reporting ALL SUSPICIOUS EVIDENCE SHOWING A POSSIBILITY OF MONEY LAUNDERING

LIABILITY OF BANK STAFF IN THE EVENT OF NOTIFICATION

Banking secrecy no longer applies when authorization is given to reveal information or is required under the law.

Hence, anyone who reveals information in the context of any possibility of money laundering incurs no penal or civil liability.

REACTION OF THE BANK AT THE TIME OF OR SUBSEQUENT TO A SUSPICIOUS OPERATION (EXECUTION/NON-EXECUTION)

Financial sector professionals are required to refrain from executing a transaction if they know, or suspect, that it is linked to money laundering prior to informing the Public Prosecutor, who may issue instructions not to execute the transactions and who should investigate any such transactions which may have been made and have been alleged to be suspect.

Where the transaction in question is suspected of being a part of a money laundering operation, but where it is impossible to refrain from performing it or where this is likely to prevent the beneficiaries of the suspected money laundering operation from being pursued, financial sector professionals must execute the operation immediately after notification. NOTIFICATION MUST BE MADE.

The Money laundering Regulation effective from the 1st of March 2004 has put all professionals under a duty to report to the authorities wherever there are any grounds for suspecting money laundering is behind allegations and signs of suspicious transactions.
WE WOULD STRESS THAT THIS DUTY OVERRIDES ANY DUTY OF CONFIDENTIALITY.

Moreover, the professional duty extends in respect of any person where suspicion arises in relation to a cover-up or concealment of elements pointing to possibility of money laundering.

In other words… it is illegal and a crime punishable by years of imprisonment, not to BLOW THE WHISTLE when required by law!

_____________________________________________

THE PEOPLE of LUXEMBOURG DESERVE TO BE TOLD THE TRUTH about the scandals those put into positions of huge power, have tried to hide by devious means.

According to the lawyers representing Yvette Hamilius,

” There is no crime if the action was ordered by the law and by the legitimate authority”, according to article 70 of the penal code.

But WHO gave the orders and WHO was the ‘legitimate authority’, who ordered Yvette Hamilius to disregard her obligation and duty to report all evidence and allegations of suspicions leading to the possibility of money laundering?

Was it Karin Guillaume, Francois Bildgen, Luc Frieden, Jean-Jacques Rommes, Jean-Claude Juncker, Robert Biever?
Who was it?
Who was the ‘legitimate authority’, who gave the authority to breach E.U. rules?

1. Does this mean that any criminal act can be legitimized if the orders come from those momentarily in power ?

2. Has Luxembourg made specific laws to protect delinquent organisations and have they correctly transcribed rules from European law or are there constant mis- representations of European Law in Luxembourg?

The scandal of the Landsbanki insolvency administration will not be whitewashed nor brushed away as hundreds of victims have been made to suffer for 5 years, unnecessarily.

The Greed and arrogance in the war waged against investors, mostly pensioners, shows the attempts at seizing assets are not in the pursuit of pure justice but in the pursuit of monetary ill- gotten gain and with a remarkable bias, unethical in any insolvency administration in Europe.

The people of Luxembourg deserve to be told the truth about the scandals those put into positions of huge power, have tried to hide .

Luxembourg deserves to know of the underhand methods they used to keep the scandal of the Landsbanki administration hidden before the elections and thrown out on Christmas Eve with a statute of Limitations which is not applicable in cases where the complaint concerns the possibilities of money laundering.

__________________________________________

Michael Equity writes part 4 of the Landsbanki Fraud 15th January 2014

ARTICLE 4 – YET MORE EVIDENCE OF LANDSBANKI LUXEMBOURG FRAUD

Below is the fourth factual report on the fraudulent activities of Landsbanki Luxembourg directed at EU old age pensioners in a deliberate case of money laundering, theft and embezzlement?
We have many many more which we will continue to publish until such time as someone in Luxembourg wakes up to the fact that there is something very wrong that needs to be investigated as a priority and not to continue to delude themselves and the world at large “that there is nothing wrong in Luxembourg”

On Christmas Eve everyone’s suspicions that there was money laundering behind this refusal to investigate, was confirmed and we are now being flooded with people who want our story. Yvette Hamilius and Karine Guillaume are positioning themselves in a questionable place in this scandal.

According to the EU 2004 ruling on money laundering they have a legal obligation to report on any suspicious activities leading up to the liquidation of the bank and these suspicions need to be fully investigated and charges brought accordingly, failure to do so results in complicity to the crimes.

The factual evidence based information that we are now publishing is surely more than suspicious, so why is our request for a fair hearing and investigation being ignored?

This particular victim is 92 years of age and a Second World War 11 veteran, who is incapacitated due to the loss of an arm during the conflict.

Here is an individual who was prepared to put his life on the line to secure for future generations peace, freedom, liberty and justice, not to be treated in his twilight years in this abominable, inhumane manner, firstly by the actions of the bank and now through the Luxembourg system refusing to acknowledge that they are serious problems that need to be addressed.

He is one of the first known victims of the Landsbanki Luxembourg scam, having entered the Equity Release programme in November 2004.

The Equity Release contract was in two parts; following the valuation of his property by an appointed Landsbanki agent, the first being a cash draw down facility of 25% and the second 75% was paid into an investment programme controlled and managed by Paneuro Life SA although he did request that he was allowed some input over his portfolio this was disallowed.

It is true to state that in the beginning that his funds in Paneuro Life (an independent, separate company from Landsbanki) were well managed and producing a return on the investment, but shortly afterwards the officers of Landsbanki Luxembourg without his consent or permission, cancelled that investment and transferred all his funds into Lex Life, a wholly owned subsidiary of Landsbanki. IMMEDIATELY, from that point on his funds, now under their control, began to disappear. There has been a complete and imaginary picture painted that Landsbanki and Lex Life were separate companies when in fact Lex Life was a wholly owned subsidiary.

The Bank’s Spanish agent told him on several occasions that the capital sum was fully guaranteed by the Insurance policy and that the average performance would produce 9% income per annum – enough to pay the service charges, interest on the loan and provide a modest income for his later years.

The fund did achieve this level of performance once, but subsequently he has watched helpless as his capital disappearing into zero by the fraudulent trades made by the bank’s management team.

There were NO FUND MANAGERS to whom he could revert when he became very concerned about the continual losses and during a three year period when funds were being depleted he was being charged 30,000 euros per annum as a separate “management fee”.
He has no idea why this extra charge was being imposed and why the money was being removed from his account without permission and certainly not with his agreement. Despite all of his efforts he could get no response or information from either the bank or agent.
Having begun to drain his account down to a point where the levels of security ratio were below the required amount, in November 2007 he received a demand to deposit 125,000 euros into the account to top up the investment fund. He was unable to do so; therefore they removed that sum from the original invested capital without his consent.

He concludes as follows:

“I cannot say more than the whole fraudulent fiasco continued for three or four years losing my capital and endangering my rights to live in peace and comfort during my declining years. In recent times I have been threatened by the liquidator that she will repossess my home and that both my wife and I will not have a home in which we can live. As this is our only major asset I am very, very concerned – it is too late for me to start again

_______________________________________________

Michael Equity writes part 3 of the Landsbanki Fraud 12th January 2014

Article 3 – Yet more evidence of Landsbanki Fraud

 

By Michael Equity

 

Much of the background to this latest factual account is not included in as much as it follows the similar pattern experienced by all victims.

By a strange coincidence, it again features our memory loss Landsbanki Account manager – Claes Thede!

 

In this particular case study, the victim went into a great deal of background and research and found that if the Landsbanki portfolio had followed general European stock market performance, then his portfolio should have covered all costs and returned a modest return.

 

Such was his concern over the lack of promised performance and returns, that he demanded an explanation from his account manager. He was informed that the bank acted as “Fund of Funds” so they only placed money in existing investment funds in Luxembourg.

 

He subsequently discovered from an ex manager of Landsbanki further disturbing information on how the bank in Luxembourg actually operated.

 

Landsbanki was active in a methodology known as “churning “(change+ burning). Every week  the Bank called various investment Funds and asked them how much commission  a certain Fund would pay in order to have say 3 months or longer  a certain sum on their account . Depending on the offered commission clients money was in bulk then transferred to this Fund. It did not matter how much profit was generated for the client, or indeed if it was a profitable investment at all, the only consideration was the amount of commission that Landsbanki Luxembourg made.

 

He had enough of the poor performance of his portfolio and so on the 7th February 2007, he went to Luxembourg to discuss the situation.

In addition, he had never received a proper copy of his Life Insurance policy and wanted to know the exact details.

When he arrived at the office of Landsbanki Luxembourg, he asked to speak with the Insurance manager and have a copy of his policy. He was told that there was no insurance Manager and that a Mr Morten Juul (Vice President) acted as such. When he asked for the insurance policy, he was told not to worry because the Central Bank of Luxembourg had reinsured the insurance policies.

 

Then he wanted to speak to the Money Manager or the person who placed the funds of clients and responsible for investment policy and strategy. The response was that they Money manager had resigned and they now operated the system of Fund of Funds.

He informed them that he no longer wanted to pay for a non- existent insurance policy and was informed that he would have to pay 60.000 euros cancelation costs.

Moreover he told them he was not happy with their Funds of Funds policy.

They assigned to him a new account manager (Claes Thede) who would place his portfolio in bonds and shares by mutual agreement.

 

He was thoroughly disillusioned with what he had discovered in Luxembourg and decided to conduct some further investigation into their operations.

 

He discovered, via the internet, that the Founder of the Bank, Mr Gudmunsson, was in 1990 convicted in Germany on 450 counts of Fraud and was sentenced to 12 months in prison and therefore should never have been granted a banking license to operate a bank in Luxembourg in the first place, if proper due diligence had been conducted by the Luxembourg financial authorities.

 

Early in 2008 the stock markets in Europe looked very pessimistic. He therefore agreed with his account manager to sell off most of the portfolio except a few defensive shares and retain the rest in cash.

 

Then on August 28 Claes Thede called him to advise of a fantastic opportunity.

A transcript of the telephone conversation is on file.

He convinced the victim to invest all of his cash on account (800.000 euros) in Bonds in Landsbanki Iceland because these bonds would generate a profit of 11% during the next 12 months. Because Landsbanki was an AAA triple rated bank, this was, according to him, a safe investment. Two weeks later Landsbanki was declared bankrupt and went into liquidation and of course the value of the bonds was reduced to zero.

 

In October 2008 he received a statement of his account that showed no record of his 800,000 euros, it had simply vanished, no explanation, nothing. Consequently he receives the quarterly demands from the Administrator Yvette Hamilius for further ridiculous amounts of what he is meant to owe to the bank, never an acknowledgment or acceptance of the sums that he is owed.

 

Subsequently he learnt that Landsbanki Luxembourg was never registered with The Central Bank of Spain (Banco de España) neither was their 100% owned subsidiary, Lexlife Insurance. One can only conclude that both entities operated outside the law in Spain and the sale of their Equity Release products also illegal.

 

Actual case files of victims all demonstrate similar fraud, embezzlement and theft. It is patently obvious that Landsbanki were operating a very clear policy of emptying client’s accounts in the preceding weeks of their bankruptcy.

 

According to the EU 2004 law, the Administrator Yvette Hamilius had a clear professional obligation to report the irregularities of the bank’s operations and for these to be fully investigated by the financial authorities in Luxembourg and criminal charges should have resultd.

By her failure to report or act upon what is obvious, she can only herself be implicated for her complicity and for the Luxembourg Judiciary to examine the facts contained within the complaint, not just to reject them out of hand.

 

 

______________________________________________

 From our Facebook site 6th January 2013

Yet more evidence of Landsbanki fraud and money laundering part2

 By Michael Equity

Since my first piece was published with the above title, more factual revelations are emerging of the deliberate embezzlement and theft from Landsbanki Luxembourg Equity Release clients. A fact that the Administrator, Yvette Hamilius refuses to acknowledge/accept/investigate, thereby making her complicit in the money laundering scams that have been perpetrated and which Luxembourg is in total denial about on the basis that “there is no problem in Luxembourg”.

Well it stands to reason that there can never be a problem in Luxembourg when they can overlook the actions of despots and crooks throughout the world and greedily continue to line their own fat bulging pockets with no regard for humane, moral or ethical concerns.

 

However I digress.

 

You will recollect that my previous factual exposure concerned a Landsbanki Luxembourg account manger by the name of Claes Thede, who unfortunately suffers from memory loss. Do not worry Claes; we have it all in writing to prompt your recollections of the facts once your time arrives.

 

And here is a surprise; this report also features one Claes Thede! 

 

Today’s piece is fairly typical of what was going on. The clients concerned are elderly, both pensioners living off small private and UK state pensions. Their major asset being their Spanish property. They decided to take on the Equity Release product in order to release cash to invest further in their property by constructing an extension.

The bulk of their contract was invested with the 100% owned subsidiary of Landsbanki Luxembourg, Lex Life Insurance.

They at all times insisted to Claes Thede that they were not risk takers and that their home was their only asset.

 

In account review discussions with Claes Thede they complained that they could not understand the complex reporting that they were receiving from the bank. Claes assured them that there was nothing to worry about, as he did not fully understand them himself, but that the bank was doing well.

 

In 2007 they were informed by Claes Thede that the Valencia authorities had altered the Inheritance Tax rules and they no longer needed to cover large fees in the event of their deaths. (It has subsequently been ruled by the Spanish Tax authorities that this attempt to avoid death duties is illegal and therefore further proof of fraud).

He advised them that since they had no dependents they no longer needed the Lex Life policy and they could cash it in and reinvest the money.  This money amounting to €497,713.50 was transferred into their Landsbanki account on 18 December 07 under instructions from Claes Thede.

 

By telephone in June 2008 Claes Thede advised them that since they had considerable funds in their account, to purchase a bond, LANISL FLOAT 12/09.  This was Gilt edged, fail safe and backed by the government.

 

The Bond was purchased on 3 July 2008 for the sum of 297,781.25 euros.

A further €140,000 remained in their current account waiting for something equally gilt edged to invest it in. The Bond after only 3months was worthless and the whereabouts of the €140,000 residing in their account never explained.

 

They learnt of the collapse of the bank when their scheduled telephone calls with Claes Thede were returned by the liquidator (6th November 2008) and she stated that Claes Thede had been sent home on ‘Gardening leave’.

 

Clearly Claes Thede was patently aware of the negative state of the banks position when this transaction was executed and was all part of the deliberate programme of embezzling as much of clients liquidity as possible in the short time available to them.

 

Yvette Hamilius continues with the farcical comments “that there are no problems” in Luxembourg. She refuses to treat these victims as creditors of the bank but some low life scum that should be fed to the wolves, along with the Uncle of the maniac ruling North Korea, Luxembourg’s new best friend.

___________________________________________

From our facebook site 4th January 2014

  • IS THIS FURTHER EVIDENCE OF LANDSBANKI FRAUD AND MONEY LAUNDERING?

    by Michael Equity

    The fraudulent activities of Landsbanki Luxembourg and the total ineptitude/apathy of the appointed administrator, Yvette Hamilius, continue unabated with the judiciary and the government of Luxembourg carrying on with business as usual as apparently “there is nothing wrong in Luxembourg”.

    Are they blind or stupid or simply just corrupt?

    In any language of any EU member state, theft is theft and is a criminal offence that should be punished according to the severity of the crime.

    If you transfer funds out of a bank account without authorisation or approval from the account holder, then this is embezzlement/ theft. This is no different from walking into your local bank, producing a gun and demanding the contents of the safe.

    Claus Thede, an ex account manager of Landsbanki and still at liberty in Luxembourg, does not seem to understand this principal, instead he attempts to convince the client that all is well in the liquidation process and the good administrator, Yvette Hamilius is continuing at full speed to resolve all issues.
    Much of the facts of this particular case must be kept confidential at this stage for legal reasons, but we can reproduce actual text between the client and Claus Thede during the latter half of 2013.

    The sum involved is 250,000 euros, which represents the client’s life savings.

    Here are the extracts of the paper trail:

    Client

    I must ask you to try to remember why you purchased these bonds without obtaining my approval. We had a clear understanding that during the difficult market conditions we should remain liquid – hence the large amount of Euros we held in our account.

    For some reason, without contacting me, you used this cash to make this very large and disproportionate purchase of very high risk Landsbanki’s own bonds. The purchase was four times the size of any previous investment, and outside the agreed portfolio!!

    When I discovered the investment I tried phoning you several times, but was informed you were not available. A few weeks later they had no value.

    Claes Thede

    I am trying to remember a transaction that happened 5 years ago. Furthermore I am fully convinced that the Liquidator of the bank, who stands under the supervision of the tribunal, will correct the transaction if it has been made without your consent. The liquidation of the bank has been underway for more than 4 years now with a very good result so far.

    Client

    I appreciate your giving time to try to remember details of something that happened five years ago.

    I agree with your view that the Liquidator should “correct a transaction if it has been made without your consent”.
    She has also an obligation to review all transactions in the six months prior to her appointment. I brought to her attention the transactions that had been made without my consent, but clearly she did not take my complaint seriously.

    Please confirm that she did not even contact you, as a senior Account Manager, to obtain clarification.

    It is becoming more and more apparent that Yvette Hamilius management of the liquidation is questionable.

    Client

    As you can well imagine the use of almost a quarter million Euros in my Euro Account to purchase Landsbanki’s own Bonds totally undermined my Contract with the Bank. Naturally I drew the administrator’s attention to this misuse of the funds, expecting her to investigate the transaction.

    It is now clear from your email that she did not even contact you to obtain an explanation.

    I am faced with a conundrum that on the one hand Yvette Hamilius chose not to investigate this breach of contract; and on the other hand, you have no memory of it:

    Claes Thede

    I wish that I could be of more help to you and I can well imagine your situation. I will however not make a comment on the riddle you present.
    There is an ongoing liquidation and that process has so far showed very good results. The liquidator is experienced and works under the supervision of the tribunal in Luxembourg. I do not know in which order they deal with the matters. An alternative explanation could very well be that your case is further down on the agenda.
    To me it seems that there is little else to do than wait for the liquidator to make a contact.

    Summary

    The bonds illegally purchased were in fact in Landsbanki bonds that they were attempting to sell in the last few weeks of the bank with a promised return of 11%.

    Now either Claes authorised the purchase of these toxic bonds himself and so empty the clients account, or he must certainly know who did. It is no use Claes now claiming the early onset of Dementia, as he cannot remember the small matter of stealing 250,000 euros. If he did not authorise the transaction himself, then as the appointed Account Manager, surely he must be an accessory to the fact as he was tasked with the responsibility of the welfare of the client and his assets?

    Michael Equity

    • Comments from Facebook
      Nina Foster Of course as time goes on then more and more stories like this will come into the open and finally condemn the administrator Mme Hamilius who will find herself defending her professional position in Luxembourg. I hope she is ready for the legal consequences she will have to face. Personally I can’t wait to see her in that position as all the angst and grief of the last 5 years could have been avoided had she accepted the truth at the outset. After all she cannot plead ignorance as we have all been telling her what happened, facts that she personally chose to ignore. Roll on the day of judgment.
    • Alicia Williams In any other civilised country Hamilius would have had her rudeness and arrogance stripped many years ago. She has disgraced even Luxembourg who do NOT seem to practice ethics nor respect as they bend over backward to protect the real criminals they harbour.

_________________________________________________________

December 7th 2013

Sigrún Davíðsdóttir’s Icelog
Icelog has earlier told stories of Landsbanki Luxembourg and equity release loans sold by the bank in France and Spain.

The remarkable thing is that although those who bought the product have good reasons to feel that that Landsbanki Luxembourg mis-sold the loans, mismanaged the accompanying investments and miscalculated the loan cover ratio SCR (in early Sept. 2008, a month before the bank collapse), the administrator has not been willing to discuss these matters with the clients.

Since no reports regarding the administrator’s work can be found on-line (contrary to ia the operations of winding-up boards of the collapsed banks in Iceland), it’s not clear how and in what way the administrator has fulfilled normal duties to investigate if the bank took any actions before the collapse that might be either illegal or should be repealed.

In addition, the equity release clients have been frustrated by the wholly opaque and, what has at time, seemed arbitrary operations of the administrator.

The clients have ia had varying and inconsistent information as to the status of their loans.

Yet, no authority in Luxembourg – such as the Luxembourg financial services, CSSF or the Luxembourg Central Bank – seems to have paid any attention of:

a) what went on in Landsbanki Luxembourg before its demise
b) the operations of the administrator.

In this tiny country that lives of banking, the authorities don’t show any interest in knowing what really is going on in Luxembourg banks.

As to the assets, the Landsbanki Winding-up Board has now taken them over.

The Winding Up Board, WuB has not been willing to answer questions regarding what they know about the Landsbanki Luxembourg operations before or after the collapse.

The unusual position of the Landsbanki Luxembourg estate is that there are essentially only two creditors:

1. The Landsbanki Iceland estate, now run by the Winding-up board and

2. The Luxembourg Central Bank.

As mentioned earlier on Icelog there are two important events concerning Landsbanki Luxembourg:
a court case in Spain and actions taken in France by a French judge.

A court in Spain has ruled in one case that the Landsbanki Luxembourg was illegal, awarded the borrow compensation – but because the case is being appealed these borrowers are still kept in agony.

In France, Judge Van Ruymbeke* is investigating the Group of Victims of Landsbanki Luxembourg Govollux operations and has seized some properties belonging to Landsbanki Luxembourg clients – in order to prevent the Landsbanki Luxembourg administrator from confiscating the properties against loans she claims are in default.

In spring, the Luxembourg State prosecutor took the extraordinary step to issue a press release in support of the said administrator – although:

a) the prosecutor had not, judging from the press release, investigated the matter

b) had not been asked to investigate it and

c) had, as far as could be judged from the press release, nothing to rely on but information from the said administrator.

Quite extraordinarily, the prosecutor makes the claim that a small number clients, complaining about the operations of the administrator, are only people who are trying to evade repaying their loans.

The fact that a State prosecutor steps forward to defend in this way an administrator of a private company, is I believe unheard of in any country claiming to be run by the rule of law.

What makes this case particularly poignant is that many of these clients, who now have lived with the threats of being evicted from their homes, are elderly people who thought they were securing their later years in a sensible way by taking out these loans.

There are many and various European and domestic schemes to protect consumers and bank clients.

So far, none of these seem to have worked for the clients of Landsbanki Luxembourg in Spain and France.

*Judge Renaud van Ruymbeke has a formidable track record in investigating huge and high-profile corruption cases.

He worked with Eva Joly – who advised the Icelandic Special Prosecutor when the office was set up – on the Elf case where ministers and politicians were convicted to prison sentences and has run big investigations such as the Clearstream 2 case and French investigations into the MADOFF fraud.

Update to clarify the legal standing of an administrator in Luxembourg:

A judge appoints an administrator and all actions have to be accepted by this judge.

In the case of the Landsbanki Luxembourg administration the presiding judge is KARIN GUILLAUME.

As far as I understand, the judge is therefor also responsible for the actions taken by an administrator appointed by the judge.”

Icelog.

COMMENT  by VICTIMS.

We, the 181 victims who lodged a criminal complaint in Luxembourg against the actions of the bank pre-bankruptcy and the administrator post-bankruptcy have suffered unnecessarily for over 5 years due to what is being widely called criminal negligence.

We have seen serious suspicions of fraud, manipulation of accounts and strong possibilities of money laundering  being  ignored by the previous justice Minister Francois Biltgen and of course Octavie Modert,  Jean- Claude Juncker’s helper and assistant and Luc Frieden .

We are wondering today, how this can be possible and why Robert Biever was seriously mis-informed about the Landsbanki Luxembourg scandal and allowed to look bad since clearly he had not been told the truth.

The serious failures of the Hamilius/Guillaume administration proceedings contributed to bringing down the Juncker Government and to the loss of reputation internationally for Luxembourg and yet few have seen the terrible damage done to so many by so few.

Let us hope, for everyone’s sake that the new justice Minister does more than Octavie Modert did to try and  get to the bottom of the lies by omission, the turmoil and the negligence of the administration of the Luxembourg failed bank and that those who have done a bad job will be punished whatever their name might be.

THIS IS WHAT JUSTICE in a DEMOCRACY MEANS.

Is it right that this Criminal negligence has been allowed to go on for so long unstopped?

Is it right that such serious damage to the Juncker Government, to the reputation of Luxembourg within the EU should have been allowed by the old government?

Is it right that thousands of people who have been fighting for justice for the European pensioners have been made to suffer unnecessarily, through callous abuse?

Is it right that elderly pensioners should be targeted and caught in a Luxembourg bank scam selling toxic products Jean- Jacques Rommes (of ABBL) would never have touched as they are dangerous?

Is it right that TOXIC products which could never work, were given a licence for European consumption by the CSSF and that no one in the Government or the judiciary did anything to stop the administrator from doing such damage and destruction in the name of “missing a Luxembourg train”?

Icelog has earlier told stories of Landsbanki Luxembourg and equity release loans sold by the bank in France and Spain.

The remarkable thing is that although those who bought the product have good reasons to feel that that Landsbanki Luxembourg mis-sold the loans, mismanaged the accompanying investments and miscalculated the loan cover ratio SCR (in early Sept. 2008, a month before the bank collapse), the administrator has not been willing to discuss these matters with the clients.

Since no reports regarding the administrator’s work can be found on-line (contrary to ia the operations of winding-up boards of the collapsed banks in Iceland), it’s not clear how and in what way the administrator has fulfilled normal duties to investigate if the bank took any actions before the collapse that might be either illegal or should be repealed.

In addition, the equity release clients have been frustrated by the wholly opaque and, what has at time, seemed arbitrary operations of the administrator.

The clients have ia had varying and inconsistent information as to the status of their loans.

Yet, no authority in Luxembourg – such as the Luxembourg financial services, CSSF or the Luxembourg Central Bank – seems to have paid any attention of:

a) what went on in Landsbanki Luxembourg before its demise
b) the operations of the administrator.

In this tiny country that lives of banking, the authorities don’t show any interest in knowing what really is going on in Luxembourg banks.

As to the assets, the Landsbanki Winding-up Board has now taken them over.

The Winding Up Board, WuB has not been willing to answer questions regarding what they know about the Landsbanki Luxembourg operations before or after the collapse.

The unusual position of the Landsbanki Luxembourg estate is that there are essentially only two creditors:

1. The Landsbanki Iceland estate, now run by the Winding-up board and

2. The Luxembourg Central Bank.

As mentioned earlier on Icelog there are two important events concerning Landsbanki Luxembourg:
a court case in Spain and actions taken in France by a French judge.

A court in Spain has ruled in one case that the Landsbanki Luxembourg was illegal, awarded the borrow compensation – but because the case is being appealed these borrowers are still kept in agony.

In France, Judge Van Ruymbeke* is investigating the Group of Victims of Landsbanki Luxembourg Govollux operations and has seized some properties belonging to Landsbanki Luxembourg clients – in order to prevent the Landsbanki Luxembourg administrator from confiscating the properties against loans she claims are in default.

In spring, the Luxembourg State prosecutor took the extraordinary step to issue a press release in support of the said administrator – although:

a) the prosecutor had not, judging from the press release, investigated the matter

b) had not been asked to investigate it and

c) had, as far as could be judged from the press release, nothing to rely on but information from the said administrator.

Quite extraordinarily, the prosecutor makes the claim that a small number clients, complaining about the operations of the administrator, are only people who are trying to evade repaying their loans.

The fact that a State prosecutor steps forward to defend in this way an administrator of a private company, is I believe unheard of in any country claiming to be run by the rule of law.

What makes this case particularly poignant is that many of these clients, who now have lived with the threats of being evicted from their homes, are elderly people who thought they were securing their later years in a sensible way by taking out these loans.

There are many and various European and domestic schemes to protect consumers and bank clients.

So far, none of these seem to have worked for the clients of Landsbanki Luxembourg in Spain and France.

*Judge Renaud van Ruymbeke has a formidable track record in investigating huge and high-profile corruption cases.

He worked with Eva Joly – who advised the Icelandic Special Prosecutor when the office was set up – on the Elf case where ministers and politicians were convicted to prison sentences and has run big investigations such as the Clearstream 2 case and French investigations into the MADOFF fraud.

Update to clarify the legal standing of an administrator in Luxembourg:

A judge appoints an administrator and all actions have to be accepted by this judge.

In the case of the Landsbanki Luxembourg administration the presiding judge is KARIN GUILLAUME.

As far as I understand, the judge is therefor also responsible for the actions taken by an administrator appointed by the judge.”

Icelog.

COMMENT  by VICTIMS.

We, the 181 victims who lodged a criminal complaint in Luxembourg against the actions of the bank pre-bankruptcy and the administrator post-bankruptcy have suffered unnecessarily for over 5 years due to what is being widely called criminal negligence.

We have seen serious suspicions of fraud, manipulation of accounts and strong possibilities of money laundering  being  ignored by the previous justice Minister Francois Biltgen and of course Octavie Modert,  Jean- Claude Juncker’s helper and assistant and Luc Frieden .

We are wondering today, how this can be possible and why Robert Biever was seriously mis-informed about the Landsbanki Luxembourg scandal and allowed to look bad since clearly he had not been told the truth.

The serious failures of the Hamilius/Guillaume administration proceedings contributed to bringing down the Juncker Government and to the loss of reputation internationally for Luxembourg and yet few have seen the terrible damage done to so many by so few.

Let us hope, for everyone’s sake that the new justice Minister does more than Octavie Modert did to try and  get to the bottom of the lies by omission, the turmoil and the negligence of the administration of the Luxembourg failed bank and that those who have done a bad job will be punished whatever their name might be.

THIS IS WHAT JUSTICE in a DEMOCRACY MEANS.

Is it right that this Criminal negligence has been allowed to go on for so long unstopped?

Is it right that such serious damage to the Juncker Government, to the reputation of Luxembourg within the EU should have been allowed by the old government?

Is it right that thousands of people who have been fighting for justice for the European pensioners have been made to suffer unnecessarily, through callous abuse?

Is it right that elderly pensioners should be targeted and caught in a Luxembourg bank scam selling toxic products Jean- Jacques Rommes (of ABBL) would never have touched as they are dangerous?

Is it right that TOXIC products which could never work, were given a licence for European consumption by the CSSF and that no one in the Government or the judiciary did anything to stop the administrator from doing such damage and destruction in the name of “missing a Luxembourg train”?

Sigrún Davíðsdóttir’s Icelog

Icelog has earlier told stories of Landsbanki Luxembourg and equity release loans sold by the bank in France and Spain.

The remarkable thing is that although those who bought the product have good reasons to feel that that Landsbanki Luxembourg mis-sold the loans, mismanaged the accompanying investments and miscalculated the loan cover ratio SCR (in early Sept. 2008, a month before the bank collapse), the administrator has not been willing to discuss these matters with the clients.

Since no reports regarding the administrator’s work can be found on-line (contrary to ia the operations of winding-up boards of the collapsed banks in Iceland), it’s not clear how and in what way the administrator has fulfilled normal duties to investigate if the bank took any actions before the collapse that might be either illegal or should be repealed.

In addition, the equity release clients have been frustrated by the wholly opaque and, what has at time, seemed arbitrary operations of the administrator.

The clients have ia had varying and inconsistent information as to the status of their loans.

Yet, no authority in Luxembourg – such as the Luxembourg financial services, CSSF or the Luxembourg Central Bank – seems to have paid any attention of:

a) what went on in Landsbanki Luxembourg before its demise
b) the operations of the administrator.

In this tiny country that lives of banking, the authorities don’t show any interest in knowing what really is going on in Luxembourg banks.

As to the assets, the Landsbanki Winding-up Board has now taken them over.

The Winding Up Board, WuB has not been willing to answer questions regarding what they know about the Landsbanki Luxembourg operations before or after the collapse.

The unusual position of the Landsbanki Luxembourg estate is that there are essentially only two creditors:

1. The Landsbanki Iceland estate, now run by the Winding-up board and

2. The Luxembourg Central Bank.

As mentioned earlier on Icelog there are two important events concerning Landsbanki Luxembourg:
a court case in Spain and actions taken in France by a French judge.

A court in Spain has ruled in one case that the Landsbanki Luxembourg was illegal, awarded the borrow compensation – but because the case is being appealed these borrowers are still kept in agony.

In France, Judge Van Ruymbeke* is investigating the Group of Victims of Landsbanki Luxembourg Govollux operations and has seized some properties belonging to Landsbanki Luxembourg clients – in order to prevent the Landsbanki Luxembourg administrator from confiscating the properties against loans she claims are in default.

In spring, the Luxembourg State prosecutor took the extraordinary step to issue a press release in support of the said administrator – although:

a) the prosecutor had not, judging from the press release, investigated the matter

b) had not been asked to investigate it and

c) had, as far as could be judged from the press release, nothing to rely on but information from the said administrator.

Quite extraordinarily, the prosecutor makes the claim that a small number clients, complaining about the operations of the administrator, are only people who are trying to evade repaying their loans.

The fact that a State prosecutor steps forward to defend in this way an administrator of a private company, is I believe unheard of in any country claiming to be run by the rule of law.

What makes this case particularly poignant is that many of these clients, who now have lived with the threats of being evicted from their homes, are elderly people who thought they were securing their later years in a sensible way by taking out these loans.

There are many and various European and domestic schemes to protect consumers and bank clients.

So far, none of these seem to have worked for the clients of Landsbanki Luxembourg in Spain and France.

*Judge Renaud van Ruymbeke has a formidable track record in investigating huge and high-profile corruption cases.

He worked with Eva Joly – who advised the Icelandic Special Prosecutor when the office was set up – on the Elf case where ministers and politicians were convicted to prison sentences and has run big investigations such as the Clearstream 2 case and French investigations into the MADOFF fraud.

Update to clarify the legal standing of an administrator in Luxembourg:

A judge appoints an administrator and all actions have to be accepted by this judge.

In the case of the Landsbanki Luxembourg administration the presiding judge is KARIN GUILLAUME.

As far as I understand, the judge is therefor also responsible for the actions taken by an administrator appointed by the judge.”

Icelog.

COMMENT  by VICTIMS.

We, the 181 victims who lodged a criminal complaint in Luxembourg against the actions of the bank pre-bankruptcy and the administrator post-bankruptcy have suffered unnecessarily for over 5 years due to what is being widely called criminal negligence.

We have seen serious suspicions of fraud, manipulation of accounts and strong possibilities of money laundering  being  ignored by the previous justice Minister Francois Biltgen and of course Octavie Modert,  Jean- Claude Juncker’s helper and assistant and Luc Frieden .

We are wondering today, how this can be possible and why Robert Biever was seriously mis-informed about the Landsbanki Luxembourg scandal and allowed to look bad since clearly he had not been told the truth.

The serious failures of the Hamilius/Guillaume administration proceedings contributed to bringing down the Juncker Government and to the loss of reputation internationally for Luxembourg and yet few have seen the terrible damage done to so many by so few.

Let us hope, for everyone’s sake that the new justice Minister does more than Octavie Modert did to try and  get to the bottom of the lies by omission, the turmoil and the negligence of the administration of the Luxembourg failed bank and that those who have done a bad job will be punished whatever their name might be.

Is it right that this Criminal negligence has been allowed to go on for so long unstopped?

Is it right that such serious damage to the Juncker Government, to the reputation of Luxembourg within the EU should have been allowed by the old government?

Is it right that thousands of people who have been fighting for justice for the European pensioners have been made to suffer unnecessarily, through callous abuse?

Is it right that elderly pensioners should be targeted and caught in a Luxembourg bank scam selling toxic products Jean- Jacques Rommes (of ABBL) would never have touched as they are dangerous?

Is it right that TOXIC products which could never work, were given a licence for European consumption by the CSSF and that no one in the Government or the judiciary did anything to stop the administrator from doing such damage and destruction in the name of “missing a Luxembourg train”?

_______________________________________________________

FROM OUR CORRESPONDENT 1st December 2013

COLLUSION, COMPLIANCE and CRIMINAL NEGLIGENCE in CORRUPTION and CRIME in LUXEMBOURG Insolvency Case

We have seen COLLUSION & COMPLIANCE’ in CORRUPTION and CRIME which has DESTROYED the LAST YEARS of OUR LIVES and THE LIVES OF OUR FAMILIES.

We must speak up about this scandal, as this should not happen in Europe and Luxembourg must not think it can get away with it.

The last government thought it could artfully dodge the SCANDALS by using it’s friends to LIE AWAY the LIES.

In the end, the SCANDALS bring you down, however important and powerful one thinks one is.

WE ARE VERY AVERAGE EUROPEAN PENSIONERS.

WE ARE THE PARENTS AND GRANDPARENTS OF FUTURE GENERATIONS and WE ARE FIGHTING FOR JUSTICE FOR US AND FOR THEM as It is very important to set an example to the young.

YOU ARE NEVER TOO OLD TO FIGHT FOR JUSTICE.

A couple of us are in our 90’s but most of us are around 75 years old.
18 of our group, who lodged a Criminal complaint in Luxembourg against the bank and the administrator for failing in her duties, have died.

We have lived through a lot, seen a lot and learnt a lot.

Unfortunately we believed and trusted in Luxembourg and will have spent 6 Christmas’ and seen 6 New Years in, not knowing if it would be the last Christmas we would spend in our home before it was seized.

WE HAVE LIVED IN TERROR OF LOSING OUR HOMES UNJUSTLY 6 Christmases and 6 New Year’s where are hearts were gripped by fear and anger.

Our homes, our health and our lives have been seized under the authority of a powerful woman who perhaps thought that power = negligence.

We have been carelessly placed in Civil proceedings, whilst Criminal evidence has been swept aside and where the administrator has been virulently claiming an UNSAFE DEBT when the case is a CRIMINAL CASE with strong possibilities of money laundering and we are victims of falsified, manipulated accounting leading to ASSET STRIPPING of our homes and the destruction of our lives.

We thought that if a Financial Product had been rubber stamped by the Luxembourg Financial watchdog and passed as fit for the European consumer, since Luxembourg is an active member of the E.U. that it was FIT TO TRUST IN.

We were told that we would be able to pay back our 20-year loan and have an income using the value of the assets we had worked all our lives to own. OUR HOMES.

We were told that we were stupid to be sitting on the value of our homes and not to invest that value and be able to help our children and grandchildren whilst we were still alive.

We were told we would have an income; the loan would pay for itself. This is what we were promised and what the brochures sold us.

This was not TRUE and not because of any financial crisis but because the product could NEVER work.

The deliberate DISTRESSING of ACCOUNTS and ASSET STRIPPING tactics in TOXIC financial Products are exposed in the Landsbanki administration scandal. It is all there, ready to be examined and used as a CASE STUDY of how things should not be done.

Europe cannot turn a blind eye on this abusive administration any longer.

The Equity Release product based on financial investments was a product aimed at DISTRESSING the ACCOUNTS and ASSET STRIPPING, whilst allowing a delinquent insolvent bank to use the fruit of our life’s hard work, our HOMES and the portfolios the bank fabricated in order to get an abusive loan from the LCB, Luxembourg Central Bank using Luxembourg taxpayers’ money.

We have suffered the HUMILIATION and ANGUISH of not being able to help our children and grandchildren and of facing the cold, calculated mis-representation of facts by someone Luxembourg seems to feel has the power to obstruct justice and treat European pensioners as if they are the criminals whilst protecting those who are guilty of manipulating accounts to strip the assets of the pensioners.

Are people in Luxembourg thinking they will be powerless to act against a Hamilius in the Luxembourg justice system protected by the LAX laws, which are not in line with Europe, or was it the old government who offered immunity?

ONE DAY, ALL OF US WILL BE OLD.

We have not ” Missed the boat”, as Yvette Hamilius glibly says, in order to justify her inaction and negligence of possibilities of money laundering and evidence of false accounting as delinquent banks are protected and pensioners treated as criminals.

IS the MAD RUSH TO STRIP THE ASSETS BEFORE A CRIMINAL INVESTIGATION TAKES PLACE because, as we were told,
“ Yvette Hamilius was protected by the Juncker government and Luc Frieden”?

This means Luxembourg has been LIED TO but does this also mean that the Luxembourg judges have been fed FALSE information and have been lied to by OMISSION OF FACT and TRUTH, as it would appear Robert Biever the Attorney General was?
Or does it mean they have thought it more powerfully important to protect those guilty of false accounting, manipulation, fraud and possible money laundering as we have seen Yvette Hamilius bend over backward to do for all these years?

What would happen in Luxembourg if the HAMILIUS SHOPPING CENTRE collapsed because of fraud, false accounting, mis- use of funds, mis-use of building materials and breaking of the rules of construction having found that they did not have a proper Licence to build?

Would Yvette Hamilius’ friends in the old LAX government still let her say her mantra: “THERE IS NO PROBLEM IN THE FILE as I SEE NO FRAUD”?

Would the Luxembourg law turn a blind eye because it was a building carrying the weight of the name HAMILIUS, which seems to makes Luxembourg turn a blind eye to COMPLIANCE IN CORRUPTION AND CRIME when the rest of Europe sees fit to investigate?

How far should the imagined power of a name take us in Europe and how far should people wielding names as if they were weapons, be allowed to carry these dangerous weapons and use them to abuse European citizens?

We feel abuse of power is a dangerous weapon and should be punished.

We all know that corruption kills people, businesses and the reputation of countries.

We have simply not seen JUSTICE from Luxembourg!’

We are victims of ABUSE AT ALL LEVELS.

EVERYONE TURNED THEIR BACKS ON US AS THEY THOUGHT WE WERE TOO OLD TO FIGHT BACK.

The administrator has treated European Lawyers and clients of the bank with nothing but contempt and arrogance.

We have not had the RESPECT we deserve as elderly clients of a FAILED CORRUPT Luxembourg Bank.

We did not fail.

The Bank failed and it did not fail because of any financial crisis but it FAILED before the financial crisis and is one of the failed banks who are responsible for the crisis.

Luxembourg knows very well that Landsbanki had failed even before 2007 and this is clearly shown in the SIC report.

Landsbanki should never have been allowed to operate in Luxembourg let alone be allowed to sell TOXIC Financial products to POISON Europe with.

Through the cold arrogance of a person who says she is “ONLY DOING HER JOB”, when in fact she has missed the train, the coach and the plane and is most certainly not doing her job conscientiously or respecting European rulings, we have been made to suffer, get ill, be tortured and humiliated as we fear being homeless through NO FAULT OF OUR OWN.

It was clearly shown, even though not much was put in the Luxembourg Establishment press, which we were told protected Luc Frieden and Jean-Claude Juncker, about the Yvette Hamilius abuse of the EMPLOYEES of Landsbanki as the European Laws were disregarded and Luxembourg employees were made to suffer and like the clients of the bank have been.

It is clear to see that the CSSF should never have given a licence to a TOXIC, DANGEROUS product, targeting the elderly retired with mortgage free family homes.

(Jean -Jacques Rommes the then head of the ABBL so aptly described the Equity Release product sold through Luxembourg, in the press, as a dangerous product he could never consider viable.)

LANDSBANKI LUXEMBOURG mis-sold the loans, mis-managed the accompanying investments and mis-calculated, manipulated and criminally falsified the accounting of the SCR, Security Cover Ratio just before the bank closed it’s doors in it’s illegally retarded bankruptcy as the bank was already insolvent in 2007 as shown in the SIC report.

Landsbanki Top Cats with strong links to Luxembourg, are in Criminal proceedings and most of the criminally questionable transactions can be seen to be running through Luxembourg.

Despite this, the Luxembourg administrator has for 5 years insisted there is “NO PROBLEM IN THE FILE and NO FRAUD TO BE SEEN”!

Perhaps the new Luxembourg Government could invest in SPECSAVERS for Yvette Hamilius’ administration purposes?

This scandal and blind disregard for possibilities of money laundering would make a good SPECSAVERS ad., but would it explain the reason Yvette Hamilius has bent over backward to conceal corruption, crime, false accounting, manipulation of accounts, illegal loans from a European Central Bank to an insolvent company and has attempted to ASSET STRIP the pensioners out of their homes based on lies and false accounting she has neglected to report and investigate?

We think not.

The Luxembourg Central Bank using Luxembourg tax-payers’ money, gave an illegal and reckless loan against the advice of Claude Trichet, once the bank was insolvent, using the property assets and also the portfolios to get this ABUSIVE LOAN with collateral of 170% from the clients.

The clients, mostly pensioners and who were being used in order to falsely pretend the dead bank was alive and to give the fraudsters enough time to STRIP THE ASSETS and MAKE THE MONEY DISAPPEAR FROM ACCOUNTS by pretending it had been invested by the client even though there is no justification produced nor any proof of this by the powerful delinquent and negligent Luxembourg administrator who has turned Luxembourg into an International spectacle of malpractice.

The administrator has refused to discuss these matters with the clients and their lawyers. ”

1. Where are the administrator, Mme Hamilius’ REPORTS on what should be her job?
WHERE ARE THEY? Normally they would be available on line.

2. Has the administrator carried out her obligation and duty to INVESTIGATE if LANDSBANKI acted illegally or acted in any inappropriate way just before it’s collapse, which shows possibility of FALSE ACCOUNTING, intention of ASSET STRIPPING and MONEY LAUNDERING??

3. Was the administrator, Mme Hamilius or the supervising judge Karine Guillaume at the CREDITORS MEETING in 2010 when discussing the SIC Report making it evident that Landsbanki had been operating under the legal liquidity level even before 2007?

4. Did the administrator or supervising Judge check to see if the Landsbanki had in fact had it’s INSOLVENCY ARTIFICIALLY DELAYED by the Bank loan from the LCB Luxembourg Central Bank and therefore allowed the Landsbanki Managers to manipulate funds to their advantage when the Bank should already have been declared insolvent in late 2007?

5. Is it not clear that there have been doubtful manouvers which should be carefully examined and reversed as all the injustice is falling on the innocent pensioners, many of whom did not sign up to any loan until late 2007 or 2008 when the bank was already insolvent?

We are having a legitimate discussion on here and on the site, Landsbanki Victims and all our personal cases should be exposed as there are more people than we thought who only became clients of Landsbanki Luxembourg in 2007 and 2008 even after the ARTIFICIALLY DELAYED ‘SUSPECT PERIOD’.

All these false dates and lies in the documents must be catalogued when we go to the European Court. It is easier if all the case history and dates are lined up before our eyes.

Please help those who cannot manage on their own as although we have a good collection already, there are many missing and they could be important. ”

A Luxembourg Lawyer told us that:

“ IF THE LUXEMBOURG COURT HAVE FAILED TO RECOGNISE THE LANDSBANKI SITUATION CORRECTLY, it is because the matter has been misrepresented to them.”

WHO did this and on whose authority? We know that Yvette Hamilius bears the weight of the responsibility as she is the sole administrator but what happened to SUPERVISION and the control of an out-of- control administrator?

The judiciary and old government have not understood nor considered the wrongful actions, even after other countries in Europe are in Criminal proceedings and investigations on Landsbanki Luxembourg are actively taking place.

Iceland has made it clear that abusive transactions were passing through Luxembourg.

WHY HAS THE LUXEMBOURG ADMINISTRATOR NEGLECTED HER FIRST DUTIES TO REPORTING CRIMINAL, MANIPULATED ACCOUNTING, FALSE DATES, FACTS AND FIGURES IN DOCUMENTS presented to European civil courts in France and Spain?

Why has the administrator been allowed to pursue the bank’s ASSET STRIPPING tactics and the strong possibility of ENABLING money laundering whilst ignoring the clients of a Luxembourg bank many of whom were CREDITORS falsely transformed into DEBTORS?

We, the victims, will be having another Christmas and New Year filled with the fear of losing our homes thanks to the abuse of power and position of a Luxembourg lawyer who has not done her job properly but whom we are told was protected by Top Cats in the old government.

This is a very sad legacy of the old government who failed to disclose and deal with the terrible SCANDALS, which would bring them down and damage the reputation of Luxembourg.

The new government is left to face the scandals, which have now been exposed.

The new government will have the difficult job of telling the truth to the people of Luxembourg who have been lied to and who have had to pay for all that this has cost them and we will have to live the rest of our lives bearing what this CRIMINAL NEGLIGENCE has cost us.

_______________________________________________________

From our Facebook site 23/11/2013

A REPUTATIONAL DEFICIT IN LUXEMBOURG

BROUGHT ON BY PURPOSEFUL NEGLIGENCE OF CRIME and ABUSING of EUROPEAN CITIZENS

Or the sad legacy of the old government in power for so long they ‘owned’ the law and could do as they pleased in Europe and get medals and more power for abusing it’s citizens!

This is BEFORE the Landsbanki Luxembourg abusive insolvency scandal started opening eyes.

This is BEFORE the scandals, which had been purposefully neglected and disguised by “NO PROBLEM”, à la Hamilius, were exposed.

This is BEFORE the negligent LAX old government HIT THE DUST and gave Luxembourg the chance of turning the sordid chapter and starting a new page.

The list of scandals and the spying scandal, which showed Europe why the citizens of Luxembourg were so afraid to speak out about what was wrong, didn’t even include the Landsbanki scandal.

THE GOVERNMENT WANTED TO IGNORE IT , like it did the other scandals.

They thought hundreds of old people would not fight for justice until their last breath.

They were wrong.

They were too arrogant and too negligent of the most important things in life:

TRUE JUSTICE, FREEDOM, RESPECT AND TRUST.

A few months before the elections, friends and helping hands of the Government Top Cats, were sent to pretend they wanted to help us.
These Juncker/Frieden helpers, told us to be quiet and patient as when Juncker was re-elected, which they said, he was 100% CERTAIN to be, he would tell Hamilius she was wrong to pursue a Civil Case as after looking at our documents they could tell straight away it was a CRIMINAL case!

This was a way of silencing us before the elections and of hiding the gravity of the scandal they had ignored for 5 years.

We may be elderly but we are not that stupid!

We knew that if the Juncker party was re-elected as they assured us they would be, they would do NOTHING to put an end to the Criminal negligence of the person they had been protecting and allowing to destroy the reputation of Luxembourg abroad.

WHY would they stop something, which they had allowed it for 5 years and why would they admit there had been negligence and abuse in the judiciary?

They were blinkered by their own importance and too blind to see the damage the abuse of hundreds of pensioners in the hands of two care less Luxembourg women, was doing to the country.

Before the election, the government still hoped no one would notice the criminal abuse of the European pensioners in the manipulative hands of women prepared to destroy the reputation of their country, the financial place and the lives of hundreds of elderly European citizens as well as the government which had been protecting them.

The Landsbanki Luxembourg Insolvency is a very public display of absolute arrogance, abuse of power and position, the trashing of the reputation of a justice system which fails justice in the European sense of the word and the profound stupidity of people who think they rule the world because they are a big fish in a small pond.

WHY and HOW does a country lose its Reputation?

WHAT is done about it?

WHO is responsible?

WHAT will be done to those responsible so that an example is set and they and others think twice before doing it again?

ABSOLUTE POWER CORRUPTS ABSOLUTELY.

We all know that POWER corrupts absolutely, which is why we cannot allow BANKS to have POWER over GOVERNMENTS and be PROTECTED by the JUDICIARY, which is what we see happening in Luxembourg, the financial center in the heart of Europe which has the audacity to house European Courts whilst contravening European rules.

This Landsbanki case has opened many eyes and put a forensic spotlight on Luxembourg.

There are serious questions of abuse of citizens and consumer rights to be answered, as well as attempts to cover-up strong possibility of money laundering which cannot be disguised by being called ‘Bank Secrecy’, when it is CRIME PROTECTION.

The case oF the abusive insolvency judicial proceedings of Landsbanki the Luxembourg bank are the perfect example for Luxembourg and Europe to examine today, now that there is a new government.

It must never be allowed to happen again and Yvette Hamilius and Karine Guillaume should be put under investigation as they both have many questions to answer for the damage they have done.

ALL OVER EUROPE, EXCEPT IN LUXEMBOURG, BANKS AND BANKERS ARE BEING PUNISHED AND BANKS ARE PAYING HIGE FINES FOR THEIR CRIMES.

ARROGANCE is a VIRUS, which pollutes the BRAIN, OBSTRUCTS the VISION and creates much damage and destruction to the work environment.

PROTECTING CRIME IS A CRIME

A PERSON PROTECTING and covering- up CRIME, is responsible for PROMOTING CRIME and should be sentenced along with the perpetrators of crime ESPECIALLY if they are in PUBLIC SERVICE and in POWERFUL POSITIONS which affect the lives of others.

THIS IS WHAT EUROPE SHOULD BE ENFORCING.

LUXEMBOURG has been guilty of gross NEGLIGENCE for far too long.

Jean-Claude Juncker says he did not know anything about anything and his pals-in-power only know the YES word, which they echo far too often.

In England we have the story of NODDY. Noddy always nods his head and says YES. This is a children’s story.

NODDY’s should not be in politics or in the Justice system.

People who NODDY and YES YES when they should be standing firm and saying NO NO are the ones who are responsible for allowing serious crimes to spread like the plague around the world.

The NODDY’s in the Judiciary are the same one’s who are responsible for the criminal LAXITY and abuse of the LAX Judiciary for which Luxembourg is internationally known today.

LAX judiciary full of NODDY’s who do as they are told and who NODDY in agreement when they should be standing firm and saying NO NO to those who want Crime and criminals protected.

Many of us watched the Channel 4 programme with Kathy Newman where MICHAEL SCHEUER, author and former Head of the CIA’s Bin Laden Unit and a senior CIA operations officer said that :

“ INTELLIGENCE SERVICES ARE THE CREATURES OF THE HEADS OF STATE AND DO NOTHING WITHOUT THEIR APPROVAL “.

In other words do not believe the heads of State and the Politicians who say “We did not know what was going on”, as it is a LIE.

Do not believe it when you are told ‘THERE IS NO PROBLEM, THERE IS NO CRIME IN THE FILE”, by people in the judiciary who are protected and sometimes placed by the government in positions they should not have.

Always investigate the possibilities of criminal abuse of the ordinary citizens who cannot defend themselves properly and especially the vulnerable and do not allow the abuse of power of those who have protected the CRIMINAL BANKS and the TOXIC financial products so that the whole world suffers except for the Bankers and those colluding in their crimes.

BOTH should be PUNISHED. BOTH should be NAMED and SHAMED.

The last government fell on it’s face as it thought it was so powerful that it’s arrogance would intimidate the voter and because they thought they could hide scandals and no one would dare expose them and no one would do anything about it.

They were wrong.

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From our Facebook site, Nina Foster wrote on 21/11/2013

IMPORTANT FOR LUXEMBOURG TO KNOW:

YVETTE HAMILIUS HAS NOT EVEN CONSULTED THE INVESTMENT MANAGERS OF THE BANKRUPT LUXEMBOURG BANK UNDER CRIMINAL INVESTIGATION EVERYWHERE EXCEPT LUXEMBOURG!

Read this from Nina:

It is the duty of the Administrator to investigate for any irregularities that were committed by the company and its operatives prior to liquidation. To fail to do this is a failure to carry out the responsibilities bestowed upon the Administrator.
To fail to do this when you are qualified to carry out an administration might be tantamount to being blatantly dishonest. Might this render the administrator liable to be accused of fraud ? We do not know but can only surmise that something is terribly wrong.

In the case of Landsbanki Lu can Maitre Hamilius the Administrator explain why she failed to investigate the actions carried out by the investment managers of that bank prior to its collapse in 2008 ?

We should add at this point that we have testimonies from some of these managers stating that they were never contacted by the administrator.

Had she interviewed these managers she would undoubtedly have found that there had been serious misappropriation of clients funds and that this would have had an enormous effect on the way that she was to carry out the administration.

We can only surmise that perhaps she was aware of this and chose to ignore this route. We would point out that several of our members have written to Maitre Hamilius regarding this point only to be ignored. We leave you to draw your own conclusions.

NINA FOSTER

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ONLY IN LUXEMBOURG?
OR The European Union ACT of 2004 and how Yvette Hamilius SKIRTS IT.

… BUT… on whose orders does a lawyer with power and impunity skirt round laws in certain cases and observe them in others?

Who gives a lawyer permission to dance the TANGO in such a public way?

Just look at the way the Insolvency proceedings of the 20 Boutiques that went bust in Luxembourg, is being administered and you will note several points with interest.

NB The two insolvencies are being administered by the same Hamilius, so it is interesting to see the assessment.

One is considered CRIMINAL and will be a CRIMINAL proceeding.

The other is considered a simple CIVIL Case and is being TANGOED away in what we see as The TANGO Courts and Australians could see as Kangaroo Courts and others could see as the “HEADS THEY WIN and TAILS WE LOSE” Courts of Luxembourg where laws are tailored with pin stripes to suit the banksters, floor the consumer and fool the E.U.

The people of Europe can see what is going on does not make sense.

We can also all see, with interest that when the coin is flipped in that Luxembourg way, EVERYONE LOSES.

Well perhaps Yvette and Karin thought it would only be all the Group of Victims who would LOSE in Luxembourg Court and under the Luxembourg Laxative laws?

Perhaps they were so busy doing the TANGO that they thought no one would notice what has been shocking European lawyers and Politicians for years and being ignored in Luxembourg?

Perhaps they saw how cleverly the dozy old government who thought power was theirs forever to play with at will, hid all the other scandals and were promised the same blanket cover?

Perhaps they thought the name HAMILIUS gives the same powers outside Luxembourg as it does within Luxembourg?

But one thing is for sure today. When the coin is flipped the Luxembourg way, EVERYONE LOSES.

Yvette and Karin might have made sure every case was LOST in Luxembourg Court under their special selection of what is Criminal and what is Civil, but the simple FACT is clear for all of Europe to see.

The main LOSERS will not be the victims whose cases are being exposed across Europe to show the power the name HAMILIUS wields in Luxembourg, but the LOSERS will be all those who have NEGLECTED TO DO THEIR JOBS PROPERLY and WHO HAVE DISGRACED LUXEMBOURG and made a mockery out of the European Union.

The LOSER in this Scandal is Luxembourg.

The people of Europe can see what is going on does not make sense.

Why is the chaotic, false accounting, as Yvette Hamilius said in the press, being considered highly suspicious and criminal enough to place the French insolvency of the 20 boutiques in a Criminal Court whilst the outrageous, chaotic and criminal accounting which has been upheld by Yvette Hamilius and Karine Guillaume for 5 years, is not even investigated?

Why is the illegal massive loan the Luxembourg Central bank made to Landsbanki Luxembourg S.A., when it was insolvent and which breaches the INSOLVENCY LAW even in Luxembourg, totally ignored by the administrator and supervisor in this case, breaking yet another inescapable duty required by their jobs?

What does the CSSF say?
What does the ABBL say?
What has Luc Frieden said?

…NOTHING, NOTHING, NOTHING.

What did Octavia Modert say when she could have stopped Yvette Hamilius from sending the Police and Bailiffs to beat down doors and come into people’s homes to take photos of the interior of their homes and measure up to get ready to auction people’s homes when there is such strong evidence of fraud and possibilities of money laundering ?

…NOTHING. NOTHING NOTHING and she did even less to stop the abuse.

It is no old government was trashed as the embarrassing truths slowly started to be exposed.

ONLY IN LUXEMBOURG?!

HOW can these two women TANGO ON in such an OBSCENE and UNETHICAL manner making an international and sordid spectacle out of Luxembourg?

Does Luxembourg know that the average age of the victims of the Landsbanki Scandal, is around 75 years?

Do they know 18 people have died in the anguish and fear of losing their homes and leaving their loved ones homeless?

Do they know of the HUMILIATION and TERROR innocent people have had to suffer whilst two women dance the TANGO with laws which are abused and twisted so that judges and people such as Robert Biever could be misinformed and get the wrong end of the stick?

Do they know that false dates, documents and false accounting have been produced in Civil courts across Europe so that Yvette Hamilius would win the cases based on lies and a cover-up of the true facts and figures which show serious probabilities of money laundering especially if she takes the proceeds of fraud and launders them?

Do they know that more and more people in Europe say today as all the facts are exposed, that Yvette Hamilius and Karin Guillaume are breaching the E.U. ACT of 2004 and that the old government and judiciary have been ignoring strong possibilities and evidence of MONEY LAUNDERING and showing CONTEMPT for the EUROPE they want to TANGO with in order to protect a delinquent Luxembourg Bank?

Does Luxembourg just want the advantages Europe offers but still want the HAMILIUS’ of Luxembourg to be able to TANGO on as if there is NO PROBLEM?

Does that seem fair?

The average age of the pensioners being abused, is 75, we repeat.

DOES THE EUROPEAN UNION OFFER SPECIAL IMPUNITY MEASURES ALLOWING LUXEMBOURG TO TANGO THEIR WAY AROUND THE LAWS OTHER COUNTRIES ARE SUPPOSED TO RESPECT OR WHAT?

We are all asking this question. More and more people are asking this question.

THE ANSWER IS BECOMING URGENT.

EUROPEAN Citizens want to know where the Banana Republic’s lie in Europe.

They want to know where the consumer is SAFE and PROTECTED and where the consumer is abused under special laws.

There should be a WARNING sign and a label on Luxembourg products saying “NOT FIT FOR EUROPEAN CONSUMERS” or “BEWARE OF TOXIC PRODUCTS PASSED BY THE CSSF”.

Today, we are VERY HAPPY and applaud RUSSIA as we see the excellent news that RUSSIA’s CENTRAL BANK is closing down the MASTER BANK because it was guilty of MONEY LAUNDERING.

In LUXEMBOURG we see quite the OPPOSITE in the TURMOIL created by the YVETTE/ KARINE Landsbanki TANGO where Luxembourg has been put on display for criminal abuse and a covering-up of suspicions of money laundering and fraud.

ONLY IN LUXEMBOURG can one pretend to be in Europe but dance the TANGO of a Banana Republic and not only MIS _ INFORM the Attorney General Mr ROBERT BIEVER, but also the citizens of Luxembourg.

ONLY IN LUXEMBOURG would two women be allowed to TANGO AWAY the reputation of so many, who do not deserve to be dragged down by their public performance of abuse of power and abuse of European Law and RESPECT of the European consumer and shamefully loose ethics.

Can the European Union make exceptions for Luxembourg who wants to HAVE the cake and to EAT it.

Can the European Union make exceptions for Luxembourg who wants to TANGO around E.U. laws thinking no one will notice their Breeches are down?

Is this a joke or a tragedy?

From where we sit, it is definitely a serious TRAGEDY to see the destruction of our lives as honest pensioners who have worked hard all our lives to bring up our families and own a home.

From where we sit, it is definitely a tragedy to see that Luxembourg does NOT EVEN SEE the damage and destruction that 2 women in powerful TANGOS have done to Luxembourg.

As the Taxi driver said to one of our lawyers and fellow victims, “HAMILIUS IS A POWERFUL FAMILY WHO OWN ALL THE BUILDINGS SO THEY CAN DO WHAT THEY WANT IN LUXEMBOURG. No point coming here to fight them!”

Is this a JOKE, A TRAGEDY OR A REALITY for the people of Luxembourg?

Should the citizens of Europe accept that their lives should be destroyed by women enjoying dancing the TANGO and ignoring the fight against money laundering and only seeing criminality where it pleases their friends?

Is this a joke, serious criminal negligence or a tragic abuse of power?

The FIGHT AGAINST MONEY LAUNDERING has two aspects, defining each an offence involving a term of imprisonment of one to five years and a fine of 1,250 euros to EUR 1,250,000, and the preventive measures set up by the

EU Act of 12 November 2004 determining fines of 1,250 euros to EUR 1,250,000.

The offence of LAUNDERING can be punishable independently of any prosecutions or convictions for primary offences.
Disregard for the rules of DUE DILIGENCE might lead the offender to a penalty apart from any prosecution for a case of money laundering.

Professionals, CREDIT INSTITUTIONS, NOTARIES, INSURERS, Realtors, and LAWYERS must be aware of both types of offences, which they may be charged with as authors, co-authors, or ACCOMPLICES of MONEY LAUNDERING.

The 2004 Law on prevention of Money Laundering defines the way professionals should carry on DUE DILIGENCE and investigate their own customers.

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14/11/2013, an article from one of our members which raises many questions that Luxembourg should address and not ignore.
PARALLELS and DIFFERENCES IN TREATMENT of BANKRUPTCIES under LUXEMBOURG’S ADMINISTRATION LAWYER YVETTE HAMILIUS

Important Questions for EUROPE to reflect on:

WHY is Yvette Hamilius treating the recent bankruptcies of the 20 shops as a CRIMINAL case and recognising the abuse of the employees whilst she compares it to another Criminal case of an Austrian Transporter who did the same whilst the Scandal of the Insolvency of Landsbanki Luxembourg is ignored?
The Landsbanki Insolvency scandal shows Luxembourg’s administrator totally ignoring the Criminal elements and the abuse of the employees by her administration methods and negligence in reporting evidence of crime and false, chaotic accounting.
(article in RTL Faillite boutiques en Ville: Grosses dettes! Grosse demande!)

“Is it not very odd that YVETTE HAMILIUS seems to be doing her job as administrator of the 20 shops that went bankrupt in Luxembourg by first questioning the legality of the operations of the 2 FRENCH people concerned and insisting INVESTIGATIONS are necessary and that the case is not a simple Civil case but a CRIMINAL one, when she and her friend Karine Guillaume have done quite the opposite in the case of the LUXEMBOURG Bankrupt bank, Landsbanki?

Why is it that in the Landsbanki Insolvency, all pointers of very serious CRIMINALITY with strong possibilities of MONEY LAUNDERING have been very carefully IGNORED by both these women given the power to ignore, it would appear, what they chose?

Yvette Hamilius says that she finds parallels between the KRALOWETZ AUSTRAIN company case (transport company owner) and the 2 FRENCH owners of the 20 bankrupt Boutiques in Luxembourg where she says she finds CHAOTIC ACCOUNTING and abuse of employees.

Why does Yvette Hamilius see problems of abuse and criminality in one case and close her eyes in the evidence in another?

In the LANDSBANKI LUXEMBOURG BANK case, Yvette Hamilius has not questioned the criminal falsification of accounts and false accounting transforming Creditors into debtors as the doors of the bank closed whilst clients who were creditors were demanded to restore a liquidity ratio which had NOT gone under the limit but where accounts had been falsified just before the bank closed.

There have been thousands of letters of protest and complaints and Criminal proceedings across Europe and yet Yvette Hamilius with the helping hands of Karine Guillaume her ‘Look-the –other-way supervisor ‘, has ignored all the serious possibilities pointing to MONEY LAUNDERING and yet puts an article in the press as if to tell Luxembourg she does her job properly when this is simply not the case.

Why make a public outcry about the abusive treatment others have given to employees when Yvette Hamilius abused the employees of Landsbanki Luxembourg who were treated with as little respect as the ex-clients of a Luxembourg bank who have had money embezzled from their accounts and who have been made to suffer by her abominable treatment of this case and her IGNORING evidence of criminality and neglecting to report it?

WHY fail to see the clear indications for years, that this Landsbanki case is NOT a CIVIL case, not a simple bankruptcy due to mitigating circumstances but one of calculated criminality and the selling of TOXIC financial products without the required license across Europe, ignoring European law?

There is no point thinking a PR move in Luxembourg press to show Yvette Hamilius is capable of recognising CRIME when GUCCI shoes are sold at BUTTERFLY and that chaotic accounting is suspicious in the case of the 2 FRENCH owners AND YET in the Landsbanki administration she sees nothing wrong.
We are not fools and we are looking at 2 insolvencies in the hands of Yvette Hamilius which show what turning a blind eye to CRIMINALITY, FALSE ACCOUNTING and MANIPULATION OF FIGURES, FALSE DATES and NO DATES on essential documents as well as refusing to investigate all these factors which point to strong possibilities of MONEY LAUNDERING. Landsbanki S.A and BCCI S.A, BCCI Holdings S.A.
There is serious abuse of the consumer, client and employee and the name Hamilius is now linked across Europe to CONSUMER ABUSE rather than any form of justice if the truth were to be known in Luxembourg. This is a sad reality as the abuse and arrogance were ignored for too long as Serge Wilmes pointed out.
No one was listening, as they were too full of their presumed importance to care about the abuse of vulnerable others or the cover-up of criminality, which would in the end bring them down in the mud.

Scandal after scandal was ignored by those thinking power was theirs forever.

HAMILIUS INSOLVENCY PARALLELS

LANDSBANKI S.A. and BCCI
These 2 Insolvencies are the BCCI in which Yvette Hamilius was administrator of the BCCI Holdings and the BCCI S.A for 8 years.
Landsbanki Luxembourg S.A. is in the sole hands of Yvette Hamilius for 5 years with her false interpretation of European law leading to serious abuse of the Landsbanki employees and the condemnation in the Supreme Court decision in the European court of Justice. (Just because everyone is gagged does not mean there was no serious abuse of the employee and we can pretend Yvette Hamilius did nothing wrong)

This BCCI case is going to be re-opened and the EU is making the same comparisons we are, which show the Luxembourg curator as IGNORING EVIDENCE OF CRIME AND STRONG POSSIBILITY OF MONEY LAUNDERING.

The neglect has taken place before and after the bankruptcy but what has made people suffer for 5 years has been the abusive administration, which has caused unquantifiable damage to thousands of people and has damaged Luxembourg’s reputation and old government far more than any Yvette Hamilius PR army could ever fix.

Articles like the one in RTL, desperately trying to show this Luxembourg lawyer is investigating crime and that the 20 shops bankruptcy WILL THIS TIME, be treated as a Criminal Case, will not detract the European Union’s attention away from the other cases where Yvette Hamilius has REFUSED to investigate strong evidence of crime, illegality, lack of proper licence and has herself taken an active part in the abuse of consumers and clients of a Luxembourg bank which should be respecting and adhering to European codes of conduct and rules.
Why is a LUXEMBOURG BANK not examined as the AUSTRIAN and FRENCH cases were?
What is going on and WHY is this happening and nothing is being done ?
Europe must take note of what is happening in Luxembourg.

There is a new government in Luxembourg but there is a huge Luxembourg problem for the EU to examine and the LANDSBANKI case shows every type of abuse where there is a strong possibility of a cover-up of Money Laundering related crime at the top of the Institutions.

THIS IS AN URGENT PROBLEM FOR EUROPE WHICH CANNOT BE IGNORED as it is far too serious and those guilty are far too arrogant and will continue to do what is wrong, as Yvette Hamilius and Karine Guillaume have shown in the Landsbanki example.

IGNORING serious possibilities of money laundering and associated crime in the Financial Place is not part of any lawyer’s job in the European Union and anyone who knowingly allows this is in collusion.

There is no point thinking that powerful women or indeed men, can abuse people just because the victims are elderly and do not have the money to pay for the army of expensive devil’s advocates and that 18 of them have already died in fear of losing their homes and leaving their partner homeless.
The Scandal of this insolvency administration will not go away with a bit of PR to show that SOMETIMES the same people who have done a scandalous job, damaged their government and the reputation of top institutions in their country, are capable of getting it right when it suits their agenda.

There is no glory for Luxembourg in LAXITY towards serious crime and the ARROGANCE and callousness needed to stand up and say the mantra; I AM ONLY DOING MY JOB.

We have all heard that before.
LINK

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HOW MANY LIES DID THE PREVIOUS GOVERNMENT and it’s POWERFUL POODLES TELL THE PEOPLE OF LUXEMBOURG and of EUROPE?
( A list of things people are saying):

How many things have gone on which have been denied?

How will this new government STOP those who have got used to LYING and doing anything they want, from continuing their abuse of others less powerful?

This new government is going to need HELP and SUPPORT to be able to get rid of all the bad elements, which are making Luxembourg Europe’s ROTTEN APPLE.

The Juncker government was obviously in power for too long and this is a lesson for Europe to look at carefully as Europe does NOT WANT or NEED the LUXEMBOURG SYSTEM which has been allowed to thrive like a rampant virus with no antidote for so long.

The people of Luxembourg have been LIED TO and DECEIVED by those in powerful places at the top of institutions turned into power mills NOT FIT FOR PURPOSE.

Many women and men have been allowed to get too powerful in a tiny place.

Too much power given to women and men in tiny places obviously leads to abuses in a justice system as a powerful person orders a poodle to protect them from what they are doing wrong and to uphold their abuses.

Special laws to protect those guilty of abuse are put in place and above all CONFIDENTIALITY CLAUSES are used in order to keep the abuse WRAPPED UP and out of sight from the public!

TYRANNY IS WHAT WE FOUGHT WARS AGAINST and yet how many of us are victims of tyranny in the LUXEMBOURG BEFORE THE EARTHQUAKE?

Hundreds and thousands of us have been abused and now we have hundreds and thousands of people standing up alongside Europe’s old pensioners to say NO.

NO MORE CONSUMER ABUSE. NO MORE ABUSE OF THE CITIZEN by those tho think POWER is theirs forever.

WE WILL NOT TOLERATE LUXEMBOURG IN THE HEART OF

EUROPE IF THEY CONTINUE TO ABUSE and USE ORDINARY

CITIZENS OF EUROPE

for their own agenda and hide behind abusive laws which the last government should have insisted were scrapped before they started looking with ambitious greedy eyes in the direction of Europe for more power.

These abusive laws protecting the banking criminals and selling of TOXIC PRODUCTS do not belong in Europe.

The ABUSE OF THE VULNERABLE by the imagined power of 2 women in charge of an abusive insolvency like Landsbanki HAS CREATED AN EARTHQUAKE in Luxembourg.

WHY? Because it is unacceptable that 2 women should think they have the right to ignore the top judiciary of other European countries and carry on regardless by misinforming and lying to the people in Luxembourg about the reality of the case and the TOXIC products, they false accounting, the false documents and the banana republic methods used to ensure everyone lost in Luxembourg, ( except the crooks!)

The people in power for so long in Luxembourg and their POODLE friends who were so greedy to please those doing wrong, did not expect an EARTHQUAKE.

They thought the pensioners would just be intimidated, be afraid, get ill, die and disappear so they could grab their homes and their lives with NO PROTEST!

Do women in power not study HISTORY and only concentrate on maths and abusive law enforcement?

If they had studied HISTORY they would know that we pensioners fought TYRANNY and ABUSE and that we are the children of those who sacrificed their lives fighting for JUSTICE IN EUROPE.

We will NOT TOLERATE the abuse we are seeing in the heart of Europe. We do not want the young to think TYRANNY and abuse wins or pays off.

Citizens will cause EARTHQUAKES if they are abused, even if they are elderly pensioners. We have fought battles all our lives and we do not get to our age to be told by 2 women that we have no justice as they say so and nobody has the courage to stop them and ask them to explain themselves and show all the files they say, show no signs of fraud, false accounting and abuse of the pensioners.

These women, for whom today, there is little respect, outside Luxembourg, must be held accountable for the lies they have been telling as they have caused an EARTHQUAKE in their country.
Even if there are 10 shopping centers and 20 supermarkets named after them, their names will always stand for ABUSE OF THE CONSUMER outside Luxembourg as we are NOT at all impressed by the way they have treated European pensioners and consumers and if they were our daughters they would be severely reprimanded and sent back to school and told to stop cheating.

RESPECT? Who can work for people for whom there can be no respect?
Who can work for people for whom there can be no TRUST?
People who are in positions of power and who get things wrong and damage the lives of others must be PUNISHED even if they have been protected by those in power and everyone is terrified of telling them they are loose canons which have brought down their country?

We should NOT be afraid of telling people they re doing wrong just because THEY have told US that they are powerful.
POWER means NOTHING.
RESPECT and TRUST mean everything.

The new government should represent RESPECT and TRUST.

The old government represented POWER and Poodles after POWER, if the truth were said. No one respects nor trusts those who do NOTHING about what is wrong. We saw that those who protected the old Government would never do anything to correct what was profoundly wrong.

That takes courage.

How can the citizens of Europe tolerate the European buildings being in Luxembourg and the Luxembourg power cats having an influence in Europe when they have spent decades abusing European citizens and have done NOTHING TO STOP the damage or to repair the Banana laws Poodles are enforcing and protecting?

RESPECT for the Pre- earthquake Luxembourg has never been lower.
The NEW Government has to repair the damage the negligent old government created.

It will take a while for people to lose their fear and to see and speak about all the things they know are wrong and to name and shame the abusers, but it will happen.

We just have to look at history and see what happens to those who abuse others because they think they wield all the power and connections to do so.

A few people have done GREAT DAMAGE in a tiny country.

Look at the EARTHQUAKE the Landsbanki administration has caused?

Hundreds of thousands of people are following the story of the Luxembourg abuse of European pensioners across Europe and Luxembourg was being told lies for 5 years and the administrator saying “THERE IS NO PROBLEM IN THIS FILE”! Even the Attorney General was fed false information it seems!

A few laws allowing them free rein and wholesale abuse of vulnerable people in order to protect a POWER MACHINE and a delinquent, failed, reckless bank, TOXIC PRODUCTS AND a seriously irresponsible bank of Luxembourg which REFUSED to listen to good advice from Europe’s highly respected CLAUDE TRICHET.

Europe’s pensioners are not Kleenex to be used and discarded at will by judiciary wielding abusive laws and blinkers

The people of Europe have been abused and used in order to bring in big business, big clients and all this, not to help the citizens and the people who have put their trust in Luxembourg, but to HELP THEMSELVES, the POWERFUL POODLES around irresponsible, negligent people thinking of their own agenda on not of the wider consequences.

The arrogant negligence of so many scandals these Poodles did not think were of importance, has caused a MASSIVE EARTHQUAKE in Luxembourg.

This Earthquake gave many warning signs, which the ARROGANT POODLES foolishly IGNORED.

How many of us and how many people who have invested in Luxembourg, have been spied on and have files at the SREL?

How many European citizens have been made to lose cases in Luxembourg Court they should never have lost, as the judiciary is upholding bandit protection laws which the government knew perfectly well were abusive of the people they were trying to seduce into Luxembourg as CONSUMERS?

Jean-Claude Juncker has lied again and insisted that the SREL did NOT spy for the NSA or National Security Agency.
The SREL has lied over and over again.

Le Luxembourg collaborated with NSA- NATIONAL SECURITY AGENCY
2013-10-31
Luxembourg has been spying on citizens and lying about it so that we would not ask for our files from the SREL: « Sharing computer network operations cryptologic information with foreign partners », citing Luxembourg (Source: Twitter)
Luxembourg Poodles and and Jean-Claude Juncker DENIED, as usual, that they had done anything wrong and denied they had spied.
The TRUTH is quite the opposite.
Last August jean-Claude juncker LIED and said the SREL (Service de Renseignement de l’État luxembourgeois) was NOT SPYING for NSA (National Security Agency).
The SREL, as usual, LIED and confirmed this LIE, on month later!

POODLES confirm LIES don’t they?

We wish François Bausch, the President of the Inquiry against the SREL, much courage and determination to get to the TRUTH and this will be a good clean start for the NEW LUXEMBOURG.

The TRUTH should be shone in many dark corners in Luxembourg and on the Landsbanki insolvency administration offices which have LIED and told the people of Luxembourg that there is NO PROBLEM in the way they have abused European pensioners. So that many of them have died (18) in the fear of losing their homes and leaving their families in such a sordid an UNJUST battle against 2 WOMEN IN THE WRONG THINKING THAT POWER MAKES THEM RIGHT!

This NEW government has to SAVE LUXEMBOURG.

As soon as this Government is formed it has to get rid of all the things that have given Luxembourg a TOXIC reputation across Europe and further for the past decade.
So much courage will be needed as they will be confronted with abusers in the opposition and people who have taken power for granted and are shocked today to find they got too arrogant for their ambitions and have forgotten that power lasts until power is abused as HISTORY tells us.

The NEW Government of NEW Luxembourg cannot make any mistakes.

It cannot reward or promote those who have not been fit for purpose and who have damaged the institutions they were supposed to serve as these people were paid by the citizens of Luxembourg AND all those who have put their trust and affection in Luxembourg and who have been deceived by the last government.

There has to be immediate change and determination to get rid of what is wrong and the people who have been knowingly upholding what is wrong.

There should be no shadows hanging over Luxembourg and if this government can succeed in turning a page Luxembourg will be admired and respected as Iceland was when they punished and imprisoned those who have done wrong and damaged the reputation of Iceland. Luxembourg has lost 2 valuable assets.

RESPECT AND TRUST.

The new Government cannot waste any time to get these assets back and wear them proudly.

( It is interesting to see what people are saying, especially if people have been afraid of saying anything for so long.)

 

 

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  • LUXEMBOURG HAS BEEN POISONING EUROPE WITH TOXIC FINANCIAL PRODUCTS, NO REGULATION and ABUSIVE CONSUMER LAWS for too long!

    There is HIGH HOPE for a CLEAN-UP with the new Government.

    NO MORE NON-REGULATED TOXIC PRODUCTS FROM LUXEMBOURG!

    Europeans say NO to Toxic Luxembourg products and financial Terrorism!

    The people of Luxembourg say NO to the abuse that has been neglected.
    There is a new government. There is HOPE IN THE AIR!

    Luxembourg has been let down by ARROGANCE, ABUSE OF POWER, CONFLICT OF INTERESTS and a terrible LACK OF SUPERVISION and REGULATION.

    The Politicians and their friends in the judiciary were so full of their own importance they did not see nor care about the terrible reputation Luxembourg has been getting for so many years.

    The young people of Luxembourg want change for the better and they want a Political and Financial clean-up.
    This is urgently needed.
    Luxembourg now has the opportunity to CHANGE the things that are seriously wrong and which have been NEGLECTED by those doing their jobs very badly.

    How many jobs can one Justice Minister or any other minister do before one sees that it is impossible to wear so many hats and be fit for purpose?

    How many cases of conflict of interests have been ignored as short-sighted people did not want to make waves and didn’t see the storm brewing over Europe as anger grew towards Luxembourg with it’s LAX regulations, it’s Toxic products, it’s abusive laws, it’s judiciary which has turned a blind eye and pretended there was ‘NO PROBLEM’ whilst Luxembourg battled a storm no one was aware of as they were so concerned about getting more power for themselves in the E.U.?

    The New Government has to look at FACTS not fiction.

    The new government will have to sweep clean all those who have taken their power for granted, abused of their positions and done such terrible damage to the image of Luxembourg. POWER CANNOT EXIST WITHOUT RESPECT.

    How can anyone respect those who abuse others and think that their power allows them to do as they want, regardless of consequences to others?

    Luxembourg’s CSSF has let the Financial place and the banking sector down as they have ignored all WARNING SIGNS and all ABUSES which the main countries in Europe have been protesting about and opening Criminal proceedings against.

    The arrogance has fuelled ANGER and yet those in important jobs did nothing about it as they thought they had enough power to IGNORE VICTIMS OF ABUSE.

    This does not work any more. To have power, one must have RESPECT and TRUST.

    The CSSF has been approving TOXIC products, which would not be allowed in other countries, and TOXIC products, that have been banned in other countries, as SAFE FOR EU CONSUMERS.

    Now we see 200 ABUSED BELGIAN consumers of EXCELL have been sold the same TOXIC product as LANDSBANKI LEX LIFE and the other Equity release TOXIC products aimed at the elderly population of Europe who have worked all their lives to own a property.

    Luxembourg has been POISONING EUROPE and the E.U. will have to do something to stop Luxembourg and to ensure that they modify their laws and stop the judiciary from turning a blind eye to obvious crime and false accounting.

    Are the same Judicial supervisors used in these cases of abuse of the consumer?

    Are the same accountants used?

    Are the same lawyers used?

    We observe that there is a circle of people who are failing Luxembourg in a very big way.
    It is Luxembourg who is paying the price for the abuses of the CSSF and all those who have told the people of Luxembourg, ‘THERE IS NO PROBLEM”.

    WHO was it who so mis-informed Robert Biever about the disastrous Landsbanki Luxembourg case which has seriously damaged Luxembourg whilst the people of Luxembourg were told it was just a simple Civil case of a few greedy, rich people who REFUSED TO PAY their debts?

    Who told this lie and who told Robert Biever that the top French judge in Paris Renaud Van Ruymbeke had NOT given a fine to Yvette Hamilius as sole administrator of Landsbanki Luxembourg for losing the appeal in Cassation?

    Why was Robert Biever fed such rubbish so he made a fool of himself in the press?

    This was damaging for Robert Biever Internationally and we would like to ask Mr. Biever to contact us if he wants to see any of the evidence that has obviously been withheld from him.
    Also, if anyone knows Robert, tell him, just so he does get the information, that Yvette Hamilius has lost another Paris Cour d’Appel where she tried to seize homes whilst totally IGNORING the evidence of manipulations of accounts under her nose as well as the growing evidence of criminal negligence and a failure to investigate evidence of fraud and that she got a ANOTHER FINE as the Judge said the Criminal case takes precedence in that case over the Civil case.

    How long will it be before Octavia Modert as justice Minister makes a move and looks at the cases of the victims who signed an abusive contract when the bank was insolvent of a Financial product that the Bank of France clearly says, did not have a licence?

    Why was Robert Biever made to give false information in the press?
    Who was giving false information?
    Was the same false information being given to Francois Biltgen the Justice Minister who didn’t do anything about this shocking case and is now a judge in the E.U.?

    Was it the juge commisaire Karin Guillaume or was it Yvette Hamilius or was it Francois Biltgen who had been given false information and had not studied this case, where fraud is evident in so many files and the false accounting is a disgrace to the accountants?
    Is the same team of accountants being used in the Belgian abuse case?

    It looks like it! They should all check out the abusive Landsbanki insolvency case and contact us and our lawyers!

    Why were we being harassed and intimidated when they were telling lies? We weren’t telling lies but no one wanted to listen to us.

    What was the then Justice Minister Francois Biltgen told about this suppressed Landsbanki insolvency scandal, which was covered- up for 5 years in Luxembourg despite all the criminal proceedings in other countries?

    WHY was no Criminal investigation ordered? Did they IGNORE the evidence or were they told there was “NO EVIDENCE OF FRAUD” Which is it?

    Who is responsible for the damage this has done to Luxembourg?

    Hundreds and thousands of intoxicated European citizens poisoned by Financial Terrorism and TOXIC products will not simply sit quietly in a corner and be abused by the arrogant treatment of people who are doing their VERY badly with no supervision and no control by a government who pays no attention to anyone but those how are powerful and rich?

    There is a wake up call in Luxembourg.

    The time for much needed CHANGE is here and it is a time to get rid of the arrogance of those who have been abusing people, with the certitude that the Government and judiciary would back them and allow them to continue with their abuse, unchallenged.

    This is what has been bringing Luxembourg down for years now and nobody listened and nobody saw how serious the scandals they were ignoring were and nobody seemed to care about the damage they were doing to the people of Luxembourg AND to the people of Europe and the name of the E.U.

    Most of the TOXIC products have been allowed to go through Luxembourg.

    In other countries, when there are Toxic products discovered, the Judiciary PUNISHES the guilty and fines them and imprisons them and gives compensation to the victims of the abuse.

    In Luxembourg the victims are punished, robbed, treated with outrageous arrogance, as if they are the Criminals, whilst the judiciary makes them lose their cases one after the other and nothing is done about investigating the crimes so the fraudsters are protected by those who should be protecting the CITIZENS, CONSUMERS and VULNERABLE PENSIONERS!

    How wrong is that? We think it is VERY WRONG and that the E. U. should be on ALERT.

    No one should respect people in power who abuse citizens and make laws to protect Financial Terrorism.

    More should be done about the prevention and cure of FINANCIAL TERRORISM.

    The new government is going to need the help and the support of the people who will first have to start looking carefully into the scandals like the Landsbanki Insolvency administration under Yvette Hamilius and Karin Guillaume which has put Luxembourg in the international spotlight in such a negative way.

    The Belgians, the French, the Germans, the British, the Spanish, the Portuguese, the Dutch must all look into all these cases of abuse as they are all on the same mould.

    The CSSF has done the same job of NOT regulating and NOT controlling the Toxic products and selling Financial products WITHOUT the proper license as in the case of Landsbanki, Lex Life and Excell.

    The Spanish have ruled the Life Insurance packages sold in Spain as illegal.

    WAKE UP CSSF….Mortgages backed by risk investments need special licenses!

    The CSSF has ignored European regulations in the neighbouring countries and thinks a license is a license is a licence for everything! The CSSF needs to start doing a proper job.

    If you have a licence to drive a car that does mean you can drive a 2 ton truck in Europe, nor a bus, nor a tractor! The same applies to complex financial products backed by risk investments respecting the laws of MiFiD.

    One licence does not give one the right to do a multitude of high-risk investments and to pretend “THERE IS NO PROBLEM” when the cowpats hit the fan!

    How can a scandal of banking and insurance abuse against European elderly pensioners be IGNORED by 2 women and 2 justice Ministers as it has been? Who has been mis-informing whom?

    There is something seriously wrong when one woman or 2 can demolish the reputation of a country in such a way and nobody even starts to investigate?

    Did Francois Bildgen and Robert Biever not know what was going on in the Luxembourg’s Insolvency administration team?

    Did Octavie Modert not know from Laurence Modert who was working in Yvette Hamilius’office, what was going on?

    Surely Yvette Hamilius, Karine Guillaume and Laurence Modert speak to Octavie Modert ?

    There seems to be a problem of SUPERVISION and conflict of interests, so what is the CSSF doing or are they confused by all the different hats the same people are wearing?

    To us pensioners this is also very confusing? Just imagine if a mule were a cat or if a charming mule on a church steeple were a cock in disguise?

    It is VERY CONFUSING but the CSSF has a job to do and it is looking like it has failed. Even if the different hats on the same person confuse them, this is no excuse.

    When a Justice Minister IGNORES serious problems in the administration of justice and an insolvency scandal damaging Luxembourg, but has the time to change a MULE into a COCK on a CHURCH STEEPLE, then questions must be asked.

    It looks as if the CSSF has failed Luxembourg and failed Europe and let us hope Francois Bildgen will PROTECT EUROPE from the sort of abuse that is stemming from Luxembourg’s negligence and abuse of European citizens.

    We all wish the new government all the COURAGE that we, the abused pensioners have.

    There can be NO GREATER COURAGEno greater cou that which is needed to fight the sort of abuse we are victims of and if they have the sort of courage we pensioners have, then they will succeed with the HELP of the courageous young people of Luxembourg to REFLOAT THE SHIP and fly the Luxembourg flag high and proud once again!

    By the way, If anyone knows Robert Biever, please tell him that Yvette Hamilius had another fine or damages following article 700 of code civil in Paris when she LOST another appeal she challenged and if he wants to see all the files showing the clear evidence of fraud and false accounting which she might be shy of showing, then please contact us and we will be happy to provide them as this would surely make things much simpler and less costly to the people of Luxembourg, the taxpayer and to the European pensioners?

    GOOD LUCK NEW LUXEMBOURG!

    BON COURAGE nouvelle Luxembourg!

    MUCHA SUERTE!

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23/10/2013 from one of our members

EUROPE MUST HEAR THE TRUTH ABOUT THE LANDSBANKI LUXEMBOURG ADMINISTRATION

 POINT-BY-POINT, THE TRUTH MUST BE TOLD AS THIS ABUSE CANNOT BE ALLOWED TO CONTINUE IN THE FUTURE

 LANDSBANKI Luxembourg account documents  were

 WITHHELD for TWO AND A HALF YEARS whilst CREDITORS were ILLEGALLY CONVERTED TO DEBTORS!

French victims of the Landsbanki  Luxembourg administration had a document of accounts withheld for TWO and a half YEARS.

ATTENTION

“ATTENTION: NOUS N’AVONS PAS EXECUTÉ L’APPEL DE MARGE A CE DATE PARCE QUE LE SCR +/- 90% AU DATE  16/10/08″”

This is what was written on the accounting document containing the accounts up until 16/10/2008 when the bankrupt bank closed it’s doors.

The client’s had a false demand for funds because the administrator said the funds had fallen below the level of security contractually required of 90%.

If the level goes below the 90%, the bank can demand the amount necessary to bring it up to 100%.

 

This is what was demanded of these clients as the Bankrupt bank closed it’s doors 16/10/2008.

 

They were ordered to restore the level to 100% when they had not even gone over the 90%  limit as shown in the withheld document despite all the manipulations to make them fall below it by artificial, illegal non qualified massive devaluation of their assets.

 

These bank clients were retired pensioners classified by the MiFiD ruling and by Landbsanki contractually as Low Risk RETAIL customers.

The Landsbanki administration Lawyer however converted them into PROFESSIONAL clients in their CIVIL CASE documents for the Court proceedings!

How easy it seems for these expert and expensive lawyers to manipulate facts and figures against the European pensioners, struggling to survive, with 18 dead, many ill and how easy it is for so many who should be stopping this abuse, to turn the other way and listen to the administrator say ‘THERE IS NO PROBLEM, THE PENSIONERS SIMPLY MISSED THE TRAIN! “

 

These clients contract had only been registered in the spring of 2008 as were many other clients. The  ‘suspect’ period started on 8th April 2008.

 

In late 2007 and 2008, the clinically dead Landsbanki desperately tried to gather together as many assets as possible to grab an ABUSIVE loan from the CBL Central bank of Luxembourg in order to resuscitate   the insolvent bank.  They did this by targeting the pensioners with mortgage free homes and selling them the promise of an income based on their investments and a return sufficient to pay the interests and give them an income.

These particular pensioners  who had been converted abusively into debtors had most of their money still in their account and had asked for it to be transferred to France and they HAD NOT IN FACT GONE BELOW THE 90%.

Landsbanki did not action their orders of transfer and held on to their released money.

DESPITE  the abusive dropping in value of the property to 60% of one of it’s Landsbanki valuations and

DESPITE  the entire renovation of the property in a very stable area of property and

DESPITE  the abusive devaluation of the cash in personal accounts and

DESPITE the investments made by the bank in Kauphtng and Landsbanki as they were sinking.

DESPITE all this, these clients were NOT DEBTORS on 16/10/2008!

As the bank closed it’s doors, clients were demanded money and accused of being debtors with no justifying accounting produced.

These people had outrageous demands of money made through the bailiff.

They had no way of contesting the amount as there was NO ACCOUNTING supporting evidence presented.

They had no money to pay their bills and certainly no money to pay a lawyer.

Their fund manager had sent them a mail from Luxembourg telling them there had been “ A MISTAKE. “    The pensioners thought the mistake would be corrected.

18 months later they were sent the first short list of figures, which left all accountants laughing, as they had never seen anything like it.  A lawyer, not an accountant, signed it off.

There was a half a page of accounts on 15 lines with no dates and no justification of anything signed off by a lawyer.

No wonder …an accountant would have difficulty signing such a document!

This 15 line account document was attached to the CIVIL COURT document delivered by the bailiff’s and this account gave conflicting figures to the one which had been WITHHELD and then produced TWO AND A HALF YEARS LATER , probably by accident!

The WITHHELD accounts were 2 pages long together with illegal non-contractual SCR calculations, but it still conveniently for the failed bank, did not give any acquisition transaction dates.

 

These 2 pages however did contain one very important sentence of evidence, which shows how these clients who were CREDITORS were transformed into debtors by manipulation and treated as criminal debtors for 5 years with their lives ruined for having been a creditor of a Luxebourg bank.

The sentence written in capitals by the accountant in 2008 saying the clients WERE NOT UNDER THE 90% limit on 16/10/2008 as the bank closed it’s doors and was withheld for two and a half years.

 

“ATTENTION: NOUS N’AVONS PAS EXECUTÉ L’APPEL DE MARGE A CE DATE PARCE QUE LE SCR +/- 90% AU DATE DU LETTRE 16/10/08″”

 

By this time the client’s home had been seized, their rent had been seized, their tenant giving them their only income apart from their British pension, had left and they had been demanded  by Landsbanki bailiff and lawyer to show their TAX RETURNS  to Luxembourg lawyers in order to make sure they had paid taxes on their rent which Luxembourg was seizing!

 

Anyone who wants to see any of the documents showing these manipulations can write to govollux1@gmail.com and we will be happy to provide all the evidence in the abused clients’ files.  There is a mountain of them and we will be sharing them on here so that Europe will become aware of exactly how pensioners are being abused and WHY nothing is being done about it.

 

This abuse of Europe’s pensioners is an URGENT PROBLEM TO SOLVE and there is no point pretending this problem will go away if we turn our backs, as it will not.

 

The other thing to remember is that we will all be old one day and if abuse of the elderly by those in powerful positions, is allowed to go unstopped today, then it will get worse for all those who are now young and will one day be old and vulnerable.

 

ABUSE GROWS like ROT SPREADS, unless it is stopped.

 

LET US ALL JOIN TOGETHER ACROSS EUROPE TO STOP THIS ABUSE

 

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We would love to hear from you with your views and experiences so far with this terrible travesty. If you would rather write to our email address then please feel free to do so, or alternatively post a message in the box at the bottom of this page. We may publish your story, but guarantee that we will not use your name. Our Email address is govollux1@gmail.com

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16/10/2013

OH WHAT TANGLED WEBS WE WEAVE WHEN WE PRACTICE TO DECEIVE”!

WHO is RESPONSIBLE for allowing the bad reputation of LAX LUX to spread like a virus with NO CONTROL nor preventive care taken?

In view of the recent E.U. nomination of Francois Blitgen as E.U. judge, having been Justice Minister of Luxembourg since 2009 we hope that the people who are saying that:

“Luxembourg needs greater consistency in statutory rules, on the INTEGRITY of JUDGES and PROSECUTORS and the Prosecutors office need to be more independent”, are carefully listened to.

It would be VERY SAD for the E.U. if banker’s lawyers were allowed to fabricate laws to protect the bankers and the rotten banks to the detriment of the consumer/ clients as has been allowed by LAX LUX for years?

It would be VERY SAD if E.U. Consumer/ clients who had trusted in TOXIC financial Products which could never work, such as those that such LAX supervisory authorities as Luxembourg’s CSSF had passed as fit for consumption for the European consumer and in particularly for the elderly pensioners of Europe, were also torpedoed by FINANCIAL TERRORISM and LAX or triple 000 consumer protection wouldn’t it?

At least Luxembourg does not sell it’s TOXIC financial products to it’s home market of elderly pensioners in Luxembourg and finds it sufficiently rewarding to concentrate on the European market, but then, should the E. U. not be asking if this is fair or legal for the abused E. U. consumer/client?

Would it not be SAD if the rotten banks who were insolvent were given loans by Central Banks in order to DELAY the official declaration of INSOLVENCY, practice ABUSIVE LENDING and give the creative circus accountants the VALUABLE TIME they needed to juggle the accounts and transform CREDITORS to DEBTORS whilst investing the client’s PERSONAL money contractually reserved for their own personal use in their own insolvent bank?

Just as a point of interest.  Who do you think gets the assets the virulent lawyer is determined to seize in the Landsbanki Luxembourg case?

Is it the bank that practiced the ABUSIVE LENDING?

Is it the CBL who lent to an insolvent bank abusively against the better judgment of Claude Trichet?

Does this mean that the ABUSIVE SEIZING is needed to cover the ABUSIVE LENDING or what?

One thing for sure is that “OH WHAT TANGLED WEBS WE WEAVE WHEN WE PRACTICE TO DECEIVE”!

Would the E. U. allow all this monkey business of unauthorized investments in it’s own bank with client’s money done without any permission from the clients whilst the insolvent bank is given a loan during the ‘SUSPECT’ period of a bank which was INSOLVENT THE YEAR BEFORE??

Would the E.U. allow a lawyer of one of it’s countries to say there is “NO PROBLEM” in a case where there is what is called “BANANA REPUBLIC accounting being happily practiced whilst no supervisory office checks to see if the lawyer understands what people have been crying out for 5 years and Criminal courts are investigating across Europe?

Surely the E. U. would not say there is “NO PROBLEM” if they examined some of the cases which a lawyer says show no signs of fraud or any problem when European Lawyers, judges and accountants have their HAIR STAND ON END when they look at the Circus performance Luxembourg is putting on show and the laws stemming from the 2005 abusive banking laws are examined!

These laws, which make the banks un-attackable and transform clients into abused victims with the stroke of a magic pen, which makes money, vanish, should surely not belong in the E. U., unless of course the E. U. intends to become a Big Luxembourg?

Surely one cannot have one state that protects the banksters and rewards them and another which punishes them and protects the client/consumer?  It’s not fair.  Surely an accountant and a lawyer cannot become Circus performers and magicians as well?

This is the question many are asking today and one the E. U. will have to answer as the question will not be made to vanish as easily as the money from accounts!

Will the E.U. turn a blind eye to what is going on in Luxembourg or will they start to look closely at what they are calling,  “NO PROBLEM”?

Will the EU become a Big Luxembourg or will it try to get to the bottom of the cess-pit and clean it up?

That is the question which all who doubt in Europe and who are troubled to see so many from Luxembourg wanting top posts in the EU  are asking?

What is going on, when FINANCIAL TERRORISM is ignored in the heart of Europe?

What is going on when innocent, hard-working people have their lives destroyed by serious consumer/client abuse and suffer from having their lives torpedoed by FINANCIAL TERRORISM and an exhibition of the ART of Creative accounting and monkey-business being accepted by judiciary as “NO PROBLEM”, since the laws of the country have put the LAW INTO THE HANDS OF THE BANKERS and have trashed the rights of the consumer/ client so that it is THEY who are treated as the criminal?

What is going on when an accountant’s magic pen allows him by arbitrarily dropping the value of a house which could have doubled in value since the date of the bank’s professional estimation, WHENEVER that was (1 year, 2 years, 5 years previously?), WHEREVER the property, (Paris, Cannes, Monaco, a little village, up a mountain, in Madrid, Malaga, Jerez, Barcelona, by the sea, up a mountain, in a village, in Lisbon or Bilbao or anywhere in Europe) DROP SUDDENLY with the help of the ink of a pen and NO professional estimate DROP IN VALUE to 60% of the old estimate whenever or wherever it was?

WOW… WOW… WOW!  This just shows the power of the $$$$ankers and their protective pals, doesn’t it?

This is why we wish the very best of luck and much courage to those who do not approve and who are doing something to put a STOP to ABUSE and conflict of interests which breed corruption such as ….

GRECO!

July 1, 2013 – Against Corruption

Anti-corruption monitors report on Luxembourg

Authors of a new report on Luxembourg published today urge the country’s authorities to do more to enforce anti-corruption laws.

The Council of Europe Anti-Corruption Group (GRECO) has made 14 recommendations to Luxembourg to strengthen the fight against the corruption of public officials.

GRECO welcomes the progressive introduction of rules of conduct concerning the integrity of Members of Parliament, judges and prosecutors.

However, it declares that much remains to be done to ensure the consistency and effectiveness of rules on the prevention of corruption.

GRECO supports the proposals to adopt a code of conduct for parliamentarians which would deal more effectively with such issues as gifts and other benefits granted to MPs, conflicts of interest and the declaration of income and assets.

According to the report, the current mechanism for the declaration of income and activities by parliamentarians, which is based the Parliament’s Rules of Procedure, lacks effectiveness and is only taken seriously by parliamentarians to a variable degree. The future declaration system needs to provide for the publication of more precise data on the various elements of parliamentarians’ financial situations, as well as for effective sanctions in case of non-compliance.

A compendium of ethical rules was adopted for judges and prosecutors last May, which fills the gaps in respect of probity-related matters.

GRECO nonetheless calls for greater consistency in statutory rules on the integrity of judges and prosecutors since for the time being, they cover only partially non-professional judges and prosecutors. Moreover, they do not cover all the courts homogeneously with a difficult interpretation for the public at large but also for the practitioners concerned.

GRECO also supports the creation of a judicial council and plans to make the prosecutors’ office more independent. The introduction of a court management policy, including periodic appraisal of judges and prosecutors by their superiors, would also contribute to limiting certain risks to the integrity of the judicial system.

http://www.humanrightseurope.org/2013/07/anti-corruption-monitors-report-on-luxembourg/

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TINY LUXEMBOURG NEEDS BIG COURAGE!

 

Tiny Luxembourg is in a BIG MESS.

 

The Luxembourg system is like a high-speed train heading for disaster and everyone at the top pretending there is “NO PROBLEM “.

 

The passengers, who are mostly spied on and intimidated by the “POWER PERMITS EVERYTHING CLUB”, do not dare look at the tracks the train is running on nor check whether the points are right or wrong or see the WARNING LIGHTS flashing.

The people on board that Luxembourg train simply close their eyes and hope the people they are accustomed to seeing CONTROLLING the train, will be looking in the direction of the WARNING LIGHTS, which are clear for all to see, except for those who are looking beyond Luxembourg to further POWERFUL destinations!

 

The Luxembourg train is heading for disaster as those who thought they were fit to control a train, FAILED to see the WARNING LIGHTS, FAILED to respect the international safety norms, FAILED to stop the tracks the train was running on from rotting and ABOVE ALL FAILED to pay any attention to the silent passengers on the train who were the people who elected them and who pay their salaries.

 

It is the people on that train who elected them to keep them safe and make sure the judiciary also does it’s job of protecting them against abuse, crime and the destruction of their lives, who are in danger and suffering.

This was the job they were elected for and paid for. This is what the consumer and client who had trusted in Luxembourg had invested in.  They had invested in the TRUST and RESPECT, which they thought Luxembourg would provide.

 

Today, the passengers on this dangerous train need every bit of COURAGE they can find.

The people of Luxembourg have an election and need more DETERMINATION to demand their right to know the TRUTH about WHY and HOW the tracks Luxembourg was running on, have ROTTED and why the termites were allowed to go on destroying the foundations of what Luxembourg needed most in order to survive head held high, in Europe.

 

LIKE ANY OTHER COUNTRY, Luxembourg needs 2 things to be able to recover.

 

TRUST restored and RESPECT restored to this tiny country.

 

Both are in DANGER just as the passengers of the LUXEMBOURG SYSTEM are.

 

We feel great sympathy for the passengers of this Luxembourg train.

It’s simple to understand why.  WE ARE ON THIS TRAIN!

 

We are amongst it’s frightened passengers heading for disaster in the hands of those who REFUSE to see they have made terrible mistakes, have abused of their power and have then tried to hide the scandals from the public so they could continue to abuse and make laws and rules to protect themselves and the guilty.

These ‘guilty’,  are with few exceptions, powerful and wealthy or banks and companies people should be able to trust in, IF things were running properly.

 

We feel particular sympathy for the people of Luxembourg as we see that suppression and fear, intimidation and being spied on, into quasi-silent submission have conditioned them into accepting without question what they are told and not looking into what they are NOT TOLD.

 

One can see why there are growing allusions and comparisons in the press about Luxembourg fast becoming a little Russia as Russia used to be before and turning it’s eyes away from crime and bribery at the top.

 

If Russia is making big EFFORTS to fight abuse and corruption and if Iceland is having the COURAGE to expose abuse and corruption and the truth about the banking scandals why is Luxembourg still in DENIAL and refusing to investigate what other countries are investigating and exposing as is seen in the courageous  actions in Iceland?

 

Why is Luxembourg refusing to pay fines and security guarantees demanded by one of Europe’s top judges but still trying to seize the rents, properties and lives of European pensioners, when they have not complied with the judiciary of that country?

Does this mean that those in power in Luxembourg feel they have a reason to feel protected in some way by superior powers or what?  There are definitely questions, which need answers in view of the ambitions in the direction of Europe.

The EU must be ALERT and AWARE of the problem of conflict of interests so well practiced by those in power.

Is Europe not in DANGER of this Luxembourg system so long in place, being exported?

 

It takes great COURAGE to get to the ROOT of a PROBLEM.

It takes great COURAGE to DEMAND the truth from the Government, the press and the judiciary.

For so long the press, the judiciary and the government has been tangled in a confusing web with each other.

 

It takes great COURAGE to untangle a web of lies and see that these lies lead right to the TOP places especially when one has been intimidated and spied upon and one does not want to lose a job or a position, or have members of a family ‘punished ‘ for speaking out.

 

People should be APPLAUDED FOR SPEAKING OUT.  This is the only way abuse of power can be stopped.

It is necessary for the future to have this COURAGE.  When something is rotten, you have to find the cause of the rot in order to treat it.

 

There is something rotten when those at the top are so afraid of facing REALITY which is TRUTH’s best friend, that they would make other people lie, in order to cover up for liars in power and in the end cause huge SCANDALS which harm every passenger on the train and make INVESTORS and CLIENTS JUMP OFF THE TRAIN …and run for their lives!

 

The TRUTH will always get out, so why lie and hide it?  Why not deal with it with COURAGE?

We, hundreds of European pensioners are on the Luxembourg train with you.

 

We are clients of your banks, investors in your businesses, tourists of your beautiful country, employees, friends and relatives of the Luxembourgeois passengers who are sitting in the same dangerous and vulnerable position.

 

Our lives are at stake, the lives of our children and grandchildren are in danger. Europe is in danger, if WE DO NOTHING ABOUT WHAT IS WRONG!  It will be OUR FAULT if the train crashes!  We will not be able to blame the greedy, irresponsible powerful people who permitted the rot to eat away at the tracks.

 

We need to STOP, THINK and ACT FAST!

Our survival demands CHANGE.

We need to have the COURAGE to dig out the rot and expose the damage in order to be able to repair it.

 

It is easier for us, outside Luxembourg, as we can protest and speak out across Europe about the abuse, the crimes, the manipulation of accounting to protect the banks and the criminals.

We can shout out our anger on the rooftops of Courts across Europe, as they will listen to us.  They will investigate . 

 

In Luxembourg no one is listening.

But then, Why should they listen if no one says anything?

 

We have had our lives seized, our homes seized, our health seized and our futures compromised just as many of you have.  We have been humiliated, abused, threatened, intimidated and terrified as many of you have, BUT WE ARE FIGHTING AGAINST WHAT IS WRONG AND WE WILL NOT GIVE UP OUR FIGHT as future generations depend on our example.

 

The people of Luxembourg were told in the press, that most of the European pensioners, victims of an abusive Insolvency administration of a failed Luxembourg bank, had “SIMPLY MISSED THE TRAIN”.

 

For the pensioners to “MISS THE TRAIN” many signposts were CHANGED and much deliberate confusion was created.

 

The pensioners were simply told that in Luxembourg Law if you “MISS THE TRAIN”, “YOU LOSE YOUR RIGHTS”!

 

For us to “MISS THE TRAIN”, the law had been CHANGED, the date had been CHANGED, the rules had been CHANGED, and the date of the insolvency had been artificially and probably illegally DELAYED by an irresponsible loan by the CBL Central bank of Luxembourg against the sound advice of Claude Trichet, head of European Central Bank.

DESPITE ALL THIS, a powerful lawyer, the Grand Duchy administrator, Mme Hamilius can still have the power to defy the opinions and judgments of the Icelandic Procureur General, the top French Criminal Judge, the London Criminal Judges, the Spanish Criminal judges and in what is considered across Europe as astounding arrogance and in many cases displays of outright rudeness which simply IGNORE the opinions of all these TOP, highly respected members of the European judiciary and hundreds of respected European lawyers who say this is a Criminal case and not simply a Civil matter !

 

We feel that the reason the Luxembourg train with all it’s passengers, is in such danger and the tracks have been allowed to rot away as they obviously have, is precisely because of examples of abuse of power and conflict of interests of this kind.

 

The Landsbanki Scandal is not the only example.  Just look at the victims of the Maddoff scandal, all the other Equity Release scandals and the astounding false accounting needed to abuse so many thousands of Europeans by ensuring investors and clients “MISS THE TRAIN” and get falsely accounted out of their money! Just look at all the scandals, which have been suppressed for so many years, causing so much damage.

 

 

The Landsbanki Insolvency administration is in the hands of a person who has a name, which has become synonymous with the abuse an excess of power brings.

 

The name has become notorious and has tainted the name of Luxembourg by association.  An excess of power breeds the arrogance necessary to feel ABOVE the top judiciary of Europe, ABOVE the rules of ethics and morals we are striving to establish in Europe.  An excess of power often accompanies a shameful lack of COURAGE.

COURAGE is necessary to admit serious errors of judgment and to admit deliberately ignoring all the allegations of manipulated accounting and abuse of the trigger which magically transformed Luxembourg bank CREDITORS into DEBTORS in the last days before the bank closed it’s doors and once the money had been embezzled from the accounts and made to disappear.

 

It is no wonder the Luxembourg system is heading for disaster if this sort of thing is considered acceptable and no Politician or member of the judiciary or press speaks out about the terrible damage the name Hamilius is doing to the reputation of Luxembourg.  Having a commercial center in the name HAMILIUS will not change this, as the name is synonymous with CONSUMER abuse, incompetence, disrespect, conflict of interests and dissimulation with disastrous consequences on the lives and also the reputation of Luxembourg as a place to TRUST in and to RESPECT.

 

 

Something has to be done to change the TRACKS this system is running on and to have the courage to fight to put things right for the future of our children.

 

We cannot accept as ‘normal’ what is PROFOUNDLY WRONG at the heart of a system, which is not only failing Luxembourg but also threatens to spread disrepute to Europe.

 

 

WE ARE ALL FIGHTING FOR THE SAME THING.

 

We will no longer tolerate abuse of power, which allows arrogance, neglect, and the protection of the guilty to thrive so that our lives are destroyed whilst we pay for them to carry on as if there is NO PROBLEM.

 

We have to get to the ROOT of the PROBLEM and dig it out!

 

VOTE for those who have the COURAGE to admit there is a problem and who are determined to expose what is wrong and punish those who have done wrong instead of rewarding them.

 

In Europe we have the right to express our opinions and our dissatisfaction for those who are not doing their jobs properly and bringing shame and dishonor to our country and to the people who have trusted our country with their business, investments and lives.

 

Good luck to Luxembourg! 

We are on the same train.

Let us hope we get to a good destination and can feel change in the air!

 ___________________________________________________

 

ENGLISH
WHY is ICELAND BLAMED for everything, whilst CSSF LUXEMBOURG IGNORES CRIMES committed in Luxembourg before and after the bankruptcy and refuses to order INVESTIGATIONS into the biggest European banking scandal?There are many questions to ask:ARE DECEPTION and LIES allowed by the CSSF?Is TRUTH missing from the Political agenda?
Why is this sort of breach of European law allowed and not punished?Landsbanki Luxembourg itself, through MiFiD, classified us as RETAIL LOW RISK clients as brochure advertised:” The concept has been SPECIFICALLY DEVELOPED FOR PRIVATE INDIVIDUALS”…The Landsbanki administration had us re-classified as PROFESSIONALS in order to DECEIVE the Civil Court Judges in France and also falsified dates on one of the first cases to make it look as if the contract had been signed 9 months before it was legally registered in 2008 and months before the client had even met the bank!FALSE DATES, false accounting, manipulated facts and lies USED IN CIVIL COURT IN FRANCE!Dates to show when contracts were signed were falsified in documents used for Civil Court so that it made it look as if clients had signed their contract 9 months before it was in reality legally registered.ICELAND has been blamed whilst nothing is said about the abuse and crime in Luxembourg.Clients were told to sign RISK CLAUSES sent in May 2008
(after the start of the official suspect period of April 8th 2008)and told NOT to put a date on them as they said we were supposed to have signed it at the notary.
They said the date would be added in Luxembourg!In some cases this date was not added in Luxembourg so in fact there is NO DATE on a document.Similarly, there was NO ACCOUNTING backup or substations of the sudden demand for money as the bank was closing it’s doors from people who were creditors and who had most of their RESERVED funds in their personal accounts.We were being ordered to pay within 30 days sums which include money which was EMBEZZLED from accounts without order or justification nor proper accounting of any kind being produced. In some cases grossly inaccurate and unsubstantiated accounts with no dates WERE PRODUCED IN A RIDICULOUS ATTEMPT TO JUSTIFY THE EMBEZZLEMENT AND DISAPPEARING FUNDS AND in some cases such accounts have never been produced.
The administrator simply sent the bailiff demanding an unjustified ‘debt’ or we would have our homes seized, our rent seized and our lives seized.
A few days ago the bailiffs were sent, the Police forced entry and told the neighbours that the house was being put up for auction and Public sale was imminent. The family was not at home.
This virulent action has been ordered by Luxembourg’s administrator despite the fact that THE CAUTION (bail) OF 50 MILLION and the FINE of 1.875, has not paid and were levied by the top Criminal judge in France.
This was the biggest bail guarantee in the history of France and a Criminal judge does not lightly levy fines and such cautions of such magnitude if there are no serious criminal questions to answer.The CSSF should hang it’s head in shame for dishonouring the reputation of Luxembourg and allowing this arrogant and abusive bullying to continue despite all the Criminal proceedings and the negligence of the CSSSF in not ordering a CRIMINAL investigation in Luxembourg simply because the person wields a ‘powerful name in Luxembourg’, as has been widely said across Europe.There are strange cases where contracts were sent to be signed in the USA and clients were told they had to say it was signed in France and not date it.
Legal delays of reflection were not observed.
Others found that their documents said they had signed in Luxembourg when they had never been to Luxembourg.
The Civil Courts in France were given so much false information as they claimed a GROSSLY INFLATED DEBT and IGNORED THE FRAUD, knowing the criminal elements of this case would not be looked into by the civil Courts but by the CRIMINAL Courts which take longer.
The administrator is trying to seize before the criminal proceedings are heard and yet ICELAND has already indicted 6 Landsbanki employees and the links to Luxembourg are clearly outlined in the Procureur General’s Icelandic INDICTMENT.
Is the administrator playing ostrich to order, because the CSSF is afraid of what opening a Criminal Investigation might reveal about what Luxembourg’s role in the biggest banking scandal in Europe could reveal?
It certainly looks like a lot of side-stepping is being done whilst they try to dance the TANGO!
ENGLISH
LANDSBANKI: DES CONTRATS ILLÉGAUX
Autorité des Marchés Financiers AMF confirme l’illégalité du produit déjà en 2008LANDSBANKI: ILLEGAL CONTRACTS
As reported in ‘L’ESSENTIELLE ‘, LUXEMBOURG PRESS,
“Selon la Banque de France, Landsbanki Luxembourg, aujourd’hui en liquidation, n’avait pas le droit de proposer des placements financiers en France. C’est ce que l’AMF a confirmé à un client dans un courrier.”
According to the letter from the AMF helping to implement the AIFM directive, this product was illegal all those years ago and surely the CSSF, who supervised the authorisation and the viability of the product must have known the Landsbanki scheme was breaking consumer rules before this and did not conform to regulations governing speculation- backed financial products which could explain why this product was not sold in Luxembourg but sold to European pensioners?Question: Is this criminal negligence on the part of a Regulatory Authority CSSF, as hundreds of people have been put through psychological torture, financial disaster and only this week Police forced entry into a victim’s house as if they were criminals whilst the CSSF has turned a blind eye to the results of allowing a toxic product to be sold through Luxembourg for all these years and to the scandalous abuse of the administration and lack of supervision in this whole sordid case?
LANDSBANKI: ILLEGAL CONTRACTS_________________________________________________WE ARE TRYING TO DEFEND OURSELVES AGAINST A EUROPEAN BANKING SCANDAL WHICH WILL OPEN A VAST DEBATE ON THE BANKING PRACTICES IN THE HEART OF THE EUROPEAN UNION A LOAN OF MORE THAN 2 BILLION WAS GIVEN BY THE CENTRAL BANK OF LUXEMBOURG C.B.L. IN 2008 TO AN INSOLVENT BANK DESPITE THE WARNINGS AND PROTESTATIONS OF CLAUDE TRICHET then President of the Central Bank We would like to speak about what happens in a Financial Place if there is not proper SUPERVISION, real TRANSPARENCY and if there is ABUSE OF POWER and CONFLICT OF INTEREST. EVERYONE LOSES OUT! Our story with the LANDSBANKI LUXEMBOURG Bank is a complicated story and we are still under the shock of what happened to us in 2008 when so many of us were simply creditors of a Luxembourg bank, in a country in which we had confidence and where we felt protected as a consumer.In fact if you speak to any of the victims of Landsbanki, they will tell you that the first thing that re-assured them about the products they were sold, was the name of LUXEMBOURG.   The name of Luxembourg which was was sold in the EQUITY RELEASE  ‘package’ as well as the fact that we were told the bank had a AAA rating and that we would be making an income, convinced us and sold ‘us the product.BUT, now we know that these financial products are as bad as the SUBPRIMES that triggered the financial Crisis.The pensioners in question own mortgage-free properties mostly in France, Portugal and Spain and as they only had small incomes they fell for the LANDSBANKI LUXEMBOURG proposition as presented to them by the intermediaries endeavoring to sell these toxic products.The pensioners were promised an INCOME, as they were sold brochures and promises (we shall place these brochures which all sing the same song, on Facebook so that you can all see them for yourselves)LIBERTY:  LET YOUR PROPERTY WORK FOR YOU!The bank lent a sum amounting to the total value of the property, which was evaluated by an expert chosen by Landsbanki and with a second estimate in the case of properties of greater value.Landsbanki chose between these two evaluations and the differences between them were sometimes considerable.The clients paid for these estimates but Landsbanki kept them and refused to give them to clients.The loan was contractually for a period of 20 years.The clients would only receive a part of the total sum in CASH, contractually for their own PERSONAL USE, which should NOT BE INVESTED by the bank.

 

The rest was invested in a portfolio invested by the bank.

But the return promised by the bank and which should AT LEAST cover the interest, was IMPOSSIBLE to attain. (We think it would be very difficult to find any self-respecting internationally renowned financial expert to say the contrary!)

 

All the promises of an INCOME, which was what had seduced the pensioners with small incomes and the promise of “LIBERTY” in the knowledge that your PROPERTY would be WORKING FOR YOU and THE PROMISE,

 

“YOU WILL BE ABLE TO HELP YOUR CHILDREN AND GRAND CHILDREN WHILST YOU ARE STILL ALIVE”,

 

These were all FALSE PROMISES.

 

Those responsible in Landsbanki could not have ignored the fact and neither can the administrator, today, ignore this fact.

 

The clients of LANDSBANKI LUXEMBOURG were Illegally ABUSED by FALSE ADVERTISING and IMPOSSIBLE PROMISES.

 

AN IMPORTANT QUESTION: What was the real objective for pursuing these operations for Landsbanki when the first signs of a huge Financial Crisis were already visible in 2007?

 

DAVID AND GOLIATH

 

A scenario is circulating in Europe about this affair, which is making many waves and is even the subject of International INSOLVENCY Conferences (Nottingham University 2012 International Insolvency Failures on big international Insolvency administration FAILURES and in no 1 place, the Scandal of the Landsbanki Luxembourg Insolvency and the administrator and supervisor “in turmoil “, as the victims, mostly British pensioners fight for JUSTICE, rather like DAVID AND GOLIATH!   The pensioners are showing admirable courage in their battle despite the sad loss of 17 amongst them and the failing health of many.

 

The contracts, in fact, allowed the bank to obtain a mortgage over the property AS WELL AS a portfolio.  MORTGAGE + PORTFOLIO.

 

“À LA MADOFF!”

 

Landsbanki was desperately trying to refinance itself in the cavalier style of Madoff and we see that Landsbanki did not hesitate to manipulate the accounts and that after the bankruptcy the administrator upheld this creative accounting in order to transform creditors into debtors by crafty manipulation of the SCR or the Security Cover Ratio which triggers a FALSE demand for top-up funds, which if not paid in a period of 30 days would lead to the seizing of the home.

 

(In order to justify this FALSE demand for funds and the manipulation of the Security ratio, the value of the properties were DROPPED to 60%  of their  previous valuation made by Landsbanki which could be 6 months previously or several years previously and before or after renovation!

The value of CASH in accounts, was dropped by 5% and this led to shocking examples where clients had their homes seized when creative false accounting manipulated them into a 0.1% shortfall and their home was seized when they refused to pay 7 times what they had effectively taken from the bank!

 

ALL THIS WAS DONE WITHOUT ANY PROFESSIONAL EXPERTISE OF ANY KIND AND WITHOUT ANY JUSTIFICATION OF HOW CREDITORS WERE TRANSFOREMD INTO DEBTORS in the last days of this artificially delayed bankruptcy.

 

A few weeks before the bankruptcy, Landsbanki advised clients who still had the majority of their CASH released for their own personal use and not to be invested, NOT TO TRANSFER their money to France as it was ‘SAFER’ in Luxembourg.

A few weeks before the bankruptcy, Landsbanki invited the clients residing in France to a cocktail in a new office in the middle of Cannes, which was not functioning, no phones connected, no files or office equipment yet, as spanking new, flash and having cost a maximum.

The reason for this hurried flaunting of extravagance whilst it was plain to see there was no business being carried out in this Landsbanki branch they were so desperate to present as a functioning model of a healthy and prosperous Luxembourg bank, is obvious to all.

 

Whilst this charade was going on, pensioners were being told to keep their CASH in Luxembourg as it was “SAFER” and they were still actively pursuing more victims to grab on board the sinking ship!

 

Clients who were in fact CREDITORS and who had been falsely transformed into debtors by manipulating them into a shortfall of  0. 1 %, had bailiffs bashing on their doors demanding payment of 6 or 7 times what they had actually drawn down from a bank which had gone bankrupt and broken several terms of their contract!  One of the terms of the contract was a loan for the period of 20 years.

In some cases people had been clients of the bank for only 6 months!  People were signing contracts when the bank was already DE FACTO bankrupt.

 

The several hundreds of millions of Euros worth of assets Landsbanki succeeded in amassing, served to obtain a loan of more than 2 BILLION EUROS from the

CENTRAL BANK OF LUCEMBOURG BCL, despite the contrary advice and understandable protests of CLAUDE TRICHET who was the PRESIDENT OF THE EUROPEAN CENTRAL BANK.

 

In this critical period of extreme Financial Crisis, against the responsible, measured advice of CLAUDE TRICHET, the Luxembourg government, the CSSF and LUC FRIEDEN the Finance Minister oversaw the CENTRAL BANK OF LUXEMBOURG CBL to give a loan to a de facto INSOLVENT BANK.  Landsbanki was insolvent in 2007.

 

This irresponsible even illegal act, artificially retarded the bankruptcy of this bank and could possibly be the reason that documents produced in the LANDSBANKI Conclusions in Civil Courts in France by the administrator, show FALSE dates which seem to want to make it look as if the client had signed the contract BEFORE the bank was de facto insolvent in 2007. (Confirmed in the Icelandic SIC report)

Clients, whose loan had been registered in France in 2008, see in these legal defense conclusions for instance, that they have NO EVIDENCE to show that the bank did not act in GOOD FAITH and that they had any intention whatsoever to DECEIVE.

Quote from Landsbanki conclusions:

“THE PROOF of this is that, IN MAY 2007, DATE OF THE CONCLUSION OF THE CONTRACT, the bank could not know that the world crisis would happen 18 months later, in the autumn of 2008.”

 

(A small detail to N.B. …. THE CLIENTS HAD NOT EVEN HEARD OF THE BANK AT THAT DATE!… THE DATE IS FALSE!)

… However a DOCUMENT WAS PRODUCED AS EVIDENCE of the opening of an account on that date and was presented in the Civil Court of French justice.  This FALSE date is part of a long list of such gross ‘errors’, which lead us to believe that the intention was to DECEIVE the French Civil Court and to win proceedings based on FALSE information and documents?

 

We feel that the “LANDSBANKI LUXEMBOURG SYSTEM’, continues in the ADMINISTRATION AND THE LACK OF SUPERVISION IS VERY EVIDENT.

 

These clients, like many others had signed the contract after the bank was de facto bankrupt.

 

THE LIES AND THE DECEIT HAVE NEVER CEASED….

 

The extravagant Landsbanki office in Cannes had never been used for business and yet was flaunted in order to DECEIVE the clients and to once again, paint a FALSE picture of a viable, successful bank when at the end of July 2008 nothing could have been further from the truth!  At the same time, Landsbanki was advising clients to keep their FUNDS reserved for personal use, in LUXEMBOURG and NOT in France, as it was ‘safer’ in Luxembourg.

 

“LUXEMBOURG PROTECTS THE CONSUMER BETTER AND THE BANK IS AAA”

 

How can the administrator say:  “LANDSBANKI NEVER DELIBERATELY DECEIVED the clients?”

The list of lies and DECEIT is far too long to cite on here, but we have all the documents which show the lies both BEFORE and AFTER the official date of the bankruptcy and during the 5 years of administration where everything has been done to continue along the same line of abysmal conduct of DECEIT and LIES which can no longer be kept in silence whilst we wait for the Luxembourg Justice system to recognize the negligence of the administrator and supervisor who have not reported the criminal elements of this case as other countries in Europe have done.  Landsbanki was in financial difficulties before 2007.

 

It would also appear that the LANDSBANKI LUXEMBOURG portfolios were used to recapitalize the mother bank Landsbanki.

 

The clients, who have not seen any returns from their investment and whose homes are now the in the administrator’s firing line are demanding an inquiry which will throw some light on these problems.  There are also questions being asked, notably in France, as to whether Landsbanki even had the legal right to be selling these Equity Release products based on high risk speculative investment done on behalf of the client by a bank, especially in the case of vulnerable pensioners with limited income.

 

The INDICTEMENT of Landsbanki in France was preceded  by that of San Roque in Spain and they both make legal sense, especially in France where the assets and mortgages deeds which the bank has unjustly seized and which constitute the substance of the offence have been seized by the bank.  In fact, the bank had around 170% coverage!

 

The victims, their lawyers and lawyers across Europe feel that to pursue the realization of such an uncertain debt despite all the ongoing Criminal proceedings and complaints, despite the Indictment of the ex-directors and employees of Landsbanki by the Attorney General of Iceland and the seizing of the debt security by the top Criminal Judge Renaud Van Rumbeyke in France and the Criminal proceedings now in Spain as well as the Criminal cases involving Landsbanki and the same administrator in England , is exposing the instigators of these procedures to a complaint LAUNDERING CONCEALMENT if they realize the mortgages and they are issue of FRAUD.

 

 

 

Currently the victims are still in their homes only thanks to the French Judge Renaud Van Rumbeyke.

There are many dark and shady zones and irregularities in this scandal.

The lawyers underline the fact that the bank did not have the required authorizations and licenses to sell these speculative high-risk products based on financial speculation in France and Spain, nor, as is shown in Spain, to have these products which are backed by LIFE INSURANCE such as LEX LIFE, as a tax relief tool, as Landsbanki has done.  In the UK these products are outlawed.

 

In Spain, the HACIENDA has recently confirmed the illegality of these loans backed by a Life Insurance policy, which promises fiscal advantages.

 

CRIMINALITY

 

It appears that the person at the head of the bank had previously been condemned and had suspected ties with other criminal organizations in the East of Europe.

In addition a recidivist employee of Landsbank had integrated herself into the victims of France through the Spanish victim’s in order to find out what the lawyers and the victims were doing to fight the administrator’s actions. Having friends in Landsbanki Luxembourg’s offices and her own company in Luxembourg, this person had arranged many equity release loans for landsbanki in co operation with her notary friend and her close contact in the Landsbank offices who accepted her loan applications on behalf of Landsbanki.

She made it quite clear to the victims that we must not complain, or make waves because we would be punished and we would be seized before those who stayed quiet in their corner.

She explained that it was important not to make a noise or complain but to pay whatever Yvette Hamilius, the administrator, demanded, because Karine Guillaume the supervising judge and Yvette Hamilius, the administrator has immense power in Luxembourg and that they could do whatever they pleased and that we could never fight that machine.

 

We were strongly advised to sign the agreement or ultimatum that Yvette Hamilius had put together with URGENCY, before it was TOO LATE because the administrator would revert to the previous calculation which could be 6 or 7 times more than had actually been taken from the bank if the demand was not paid within 30 days.

 

This ultimatum –PAY WHAT I ASK, SIGN THE CONTRACT AND ACCEPT THE CONFIDENTIALITY CLAUSE AND ABANDON ALL CRIMINAL COMPLAINTS- was given to us  FOUR YEARS after many clients had begged the administrator to permit them to reimburse the sum they had taken from the bank.

 

FOUR YEARS LATER, after such psychological suffering, such humiliation, the worst financial problems, and such anguish and years lived in terror of losing ones home, of having any rent seized, of bailiffs banging on the door and of defending oneself against the lies and false information given by the very top, expensive lawyers that Luxembourg had put at the disposition of the administrator.

 

This powerful machine in action against elderly retired pensioners who in the main could not afford lawyers and who struggled to defend themselves believing that Luxembourg’s justice system would protect them.

 

Yvette Hamilius glibly explained in the Luxembourg press:

 

That “MOST OF THE “VICTIMS”, had  ‘SIMPLY MISSED THE TRAIN”.

 

In other words, a judgment from the `Luxembourg Court dated 24/01/2010 had fixed the deadline to lodge a declaration of CLAIM on the 14th of May on the same year.  After that no debtor could participate in the liquidation proceeds.’

 

DO CRIMINAL COMPLAINTS, FRAUD, EMBEZZLEMENT, CRIMINAL COURT PROCEDURES ALSO MISS THE TRAIN, one asks?

 

Where has the slogan gone?

 

“THE CLIENT IS ALWAYS KING IN LUXEMBOURG BANKS”

 

Wording of French Criminal Complaint

Description:

“ Fraud, abuse of confidence by persons offering their services in the usual manner, even in a subsidiary role took possession of the property of another to convert into risk obligations, the providing of services without proper license”

 

12/01/2012 In the Supreme Court, JUDGE RENAUD VAN RUMBEYKE levied a fine of 1.875 Million euros (denied by the Attorney General ROBERT BIEVER in Luxembourg press) and confirmed the decision of the High court to condemn the administrator Yvette Hamilius to pay a security bail or guarantee of 50 MILLION EUROS.

THIS IS THE HIGHEST CAUTION EVER DEMANDED IN THE HISTORY OF FRANCE.

TO DATE, MME HAMILIUS HAS NOT PAID THIS GUARANTEE NOR THE FINE

 

The inhumane actions of Yvette Hamilius must cease immediately.  She is acting outside the European laws and one can see the example of bad transposition of the European law to Luxembourg law in the case of the abuse of the Luxembourg employees of Landsbanki Luxembourg who had to go to the European court of Justice to obtain satisfaction and later seek compensation from the Luxembourg government.

 

It seems that no one in Luxembourg is controlling the actions of Mme Hamilius and that Luxembourg appears not to oppose her behavior.

 

But we think the reason is that there has been no TRANSPARENCY around this case and that the information presented to them was false or manipulated.

 

It is clear that without supervision the disasters of this nature cannot be corrected in time to avoid the inevitable serious damage to the reputation of the Banking System and Financial place nor to the lives of the victims of this kind of abuse.

 

We have many friends and even family in Luxembourg and they are shocked by this scandal and they also deplore the absence of TRANSPARENCY and the CONFLICTS OF INTEREST, which are at the root of this scandal.

 

The more than 700 victims and their families and friends in France, Spain, Portugal and the United Kingdom will no longer accept this deplorable state of affairs and demand that the Luxembourg authorities react against Mme Hamilius and repair the damages suffered by the victims and by Luxembourg.

 

In view of all these elements, the lawyers hope that Luxembourg Justice will do all that is necessary to correct this tragic injustice and also they do not understand the liquidator’s aggressive ruthlessness and methods in wanting to recover what she demands on behalf of a bank, which could be condemned for fraud across Europe.

 

The ramifications of this case are going even further since the lawyers have pointed out the bizarre fact that the bank started to actively sell these aggressive, risky financial products shortly AFTER reports by Financial Institutions such as MERYL LYNCH had predicted the imminent crash of the whole of the Icelandic financial system!

 

THE FIRST CRIMINAL COMPLAINT IN LUXMEBOURG

 

Yvette Hamilius has never brought to the attention of the judicial authorities of her country any of the operations of which the legality is put into question across Europe.

There are questions being asked about certain litigious recoveries at the expense of the victims taking place after the beginning of the winding up and open discussions with regard to money laundering is growing.

 

“This complaint is the only way to avoid the covering-up of this scandal which poses considerable ethical problems and which reveals evidence of heavy Criminal infractions.”  Said Bernard Maingain, the Belgian lawyer who is defending the victims.

 

“ This is why we must bring this case to the attention of the judicial authorities in Luxembourg who must now TAKE THEIR STAND.

 

DOES LUXEMBOURG ACCEPT THIS TYPE OF PRACTICE?  YES, OR NO?

 

THIS CASE IS LEADING TO A VAST DEBATE ON THE BANKING PRACTICES AT THE HEART OF THE EUROPEAN UNION.

 

An in depth inquiry must be held on the TRAGIC SOCIAL CONSEQUENCES of the attitude of banks such as Landsbanki and those who wish to ignore the CRIMINAL REALITY of this case.

 

“ WHAT WE HAVE ENDURED IS NOT ETHICAL AND HAS HAD A DEVASTATING EFFECT ON US, OUR FAMILIES, OUR FRIENDS AND THE REPUTATION OF THE FINANCIAL AND BANKING SECTOR OF LUXEMBOURG.”

 

Curiously, no one has denounced these facts in Luxembourg and no criminal inquiry has been initiated.  Conversely the liquidator has doubled her virulence, seized rents and threatened (2 weeks ago) in London, to not permit the owners to live in the house once seized and that any rent would also be seized, as was the case with a couple seized in France if they did not pay the sum demanded by the administrator WITHIN 8 DAYS.

 

EIGHT DAYS TO PAY THIS DEMAND AND THE ADMINISTRATOR HAS NOT PAID THE FRENCH JUDGE THE 50 MILLION GUARANTEE NOR THE 1.875 MILLION FINE!

 

Madame Hamilius has chosen to IGNORE EVERYTHING and has preferred to embark upon a ferocious and shameless campaign of recovery of uncertain debt, refusing even to negotiate any agreement that many of the victims have asked for for 4 YEARS.

We have all the letters and emails that have been written over the years and the letters, which we have written to Luxembourg Politicians, who have ignored us such as LUC FRIEDEN Minister of Finance and JEAN-CLAUDE JUNCKER, Prime Minister.

Sure of her strength and power in Luxembourg, Yvette Hamilius has preferred to issue threats and ultimatums rather than allow the victims who for FOUR YEARS have asked to repay the amount taken from the bank.

Her offer coming only having LOST IN THE SUPREME COURT and after having MADE THE PENSIONERS SUFFER POINTLESSLY OVER FOUR YEARS, was the following:

 

“ -ACCEPT TO REINBURSE THE LOAN IN IT’S TOTALITY WITH INTEREST WITHIN 30 DAYS and to settle the amount within 90 days OR THE PROPERTIES WILL BE SEIZED. “

Certain victims have already been seized since 2009 and have been under the psychological torture of knowing that their homes were going to be auctioned in a public sale at a derisory price well below the market value which would not even cover the grotesque sum often 6 times the amount received.

 

It is clear that most victims who have an average age of 72 years have as sole asset the house in which they live.  It is therefore impossible for them except in exceptional cases to gather together the necessary funds in the demanded time scale.

 

The owners who are able to obtain the necessary funds to avoid being seized have been obliged to sign an official document forbidding them to divulge the terms of the agreement as well as another document exonerating Mme Hamiius from any possible litigation in her role as administrator.

 

It was at this precise moment that an employee of Landsbanki who had strongly advised the victims to sign the agreement, to pay immediately and to be quiet, not communicate with the other victims and to agree to the offer as soon as possible came up with a loan offer for those needing to sign the document to save their homes.

These loan offers were sent to the notary and to Mme Hamilius ‘office.  Unknown to the victims, THE LOAN OFFERS WERE FALSE, but they served to persuade the victims to sign the documents which once signed would stop all Criminal proceedings against the bank and the administration.

 

One couple had even lost more than 50.000 euros because the employee had asked for an  “advance for only 3 days” in order to obtain a loan urgently in such a small time scale since no bank would give a loan to pensioners over 70 in this time scale and clients who are CREDITORS would have been evicted from their home.  The auction proceeding for the house on the 31 May 2012 was going to put the property on the market for well below its value.

All these pensioners in France and Spain have been ruined because of the actions of Yvette Hamilius.  17 have sadly died, there have been attempted suicides, many are ill after the years of psychological torture and yet the administrator continues her actions in spite of what the new Justice Minister Octavie Modert says about cooperating fully with all the other European countries and their Criminal investigations.

In Luxembourg the scandal is minimized and the Minister of justice talks of cooperating efficiently with all the criminal investigations carried out across Europe but still does not mention any inquiry in Luxembourg.

 

The Director of the ABBL (Association of Luxembourg Banks and Bankers), Jean-Jacques Rommes,

 

“ One has to be very speculative person as one risks ones house with this product.  Personally, I would not do it.”

 

If the Director of the Banks and bankers association of Luxembourg KNEW that thousands of pensioners who had confidence in Luxembourg and it’s banks and it’s financial Products which all had Luxembourg authorization and who thought that Luxembourg respected the European consumer laws MiFid, why did the CSSF keep quiet about this toxic product being sold to European pensioners through Luxembourg?

 

Why did the CSSF allow a product the director of the banks and bankers knew was dangerous and risky, to be sold to European pensioners who were risking their homes, the fruit of their life’s work?

The CSSF should surely be protecting the consumer and controlling financial products, their legality in all European countries in which they are sold and their viability, in order to be sure there is no abuse or criminality attached to the product?

The CSSF should surely protect the reputation of the Financial Place and the Banking sector and also protect all the Europeans who use their financial products in the Luxembourg Financial Place Jean-Claude Juncker asked Europe to TRUST in?

 

The Equity Release product is TOXIC and the Landsbanki affair is a SCANDAL, but we hope that there will be POSITIVE change after all the disturbing events and all the scandals, which have been neglected for so many years.

 

We hope there will be comfort and happiness on the horizon with RESPECT, TRUTH and TRANSPARENCY and that JUSTICE comes first, above all for the people of Luxembourg, who suffer the scandals created by those who abuse power and who have such conflicts of interest that they do not know which hat to wear!

 

The Luxembourg families and the European pensioners are suffering the consequences of this structural crisis and lack of supervision, which leaves the door open to corruption, abuse of power and conflict of interests.

 

There will be an IMPORTANT and POSITIVE IMPACT in Europe, if this conflict of interests and corruption is replaced by TRANSPARENCY and the COURAGE to tackle the corruption and to punish those who are guilty of crime, whoever they may be.

 

There is hope in the air.

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THE BIGGEST BANKING DELINQUENCY SCANDAL IN THE EUROPEAN UNION TODAY: LANDSBANKI LUXEMBOURG

SOME QUESTIONS TODAY BEING ASKED WITH REGARD TO THE LANDSBANKI LUXEMBOURG INSOLVENCY ADMINISTRATION… in view of the elections

The good people of Luxembourg have not escaped abuse from the Landsbanki Luxembourg system, as these same people in charge of the Landsbanki Insolvency also mis-treated the Luxembourg Landsbanki employees and also FALSELY transcribed European Law in order to make false judgments which the European Court of justice would NOT accept.
We also see the same duo YVETTE HAMILIUS as administrator and KARINE GUILLAUME as supervising judge, taking charge of insolvency after insolvency in Luxembourg and we all hope that the false accounting and manipulation of accounts in order to FABRICATE debtors out of creditors does not exist in the other administrations they are conducting.
We hope too, that others who are going through a Luxembourg bankruptcy are not abused as we have been, with such arrogant conviction that they can do as they want regardless of all the other European countries seriously investigating the long list of crimes and the undeniable link to Luxembourg through many delinquent banks who are abusing even the very elderly, with impunity.

Delinquent, greedy banks take advantage of Luxembourg’s Laws, which protect the abusing banks, and never the consumer in a system where delinquency can breed unstopped if it helps the agenda of those in power.

All this, whilst the people of Luxembourg and those working there are spied upon and lent on so that they dare not speak out as they have been gagged by some ‘ confidentiality’ clause or other. This is a reality and yet, which Luxembourg Politician has DARED to speak out about the real reason Luxembourg is suffering?

We can see clearly the brave few journalists who have dared touch on ‘difficult’ subjects, but we have not seen Politicians who have the courage to denounce what has been rotting the heart of Luxembourg and damaging it’s people.

We have seen those in power neglect little Luxembourg with it’s good people and decent families, in order to look for BIGGER places and MORE POWER. We have seen their eyes and ambitions set on becoming powerful in EUROPE, as being powerful in Luxembourg has made them hungry for more POWER.

We have been abused by people who do not care about REPUTATION as they feel POWER OVERIDES EVERYTHING.
We think the Government and Judiciary has been letting down everyone who has trusted in Luxembourg, invested in Luxembourg and helped Luxembourg to become a financial center.
That is, most importantly, the citizens of Luxembourg and the consumers and investors in Luxembourg. People such as us, in fact, the clients of the Banks and the consumers.
Without clients a bank cannot function. Without consumers businesses fail. There has to be TRUST, RESPECT, TRANSPARENCY and real JUSTICE to ensure a good reputation. Luxembourg is losing the trust and respect it so needs and once had.

The Luxembourg people, like us, are suffering because of the NEGLECT and the ARROGANCE of those who think they are above Universal law, European Law, Human decency and Ethics.
The new Minister of Justice OCTAVIE MODERT, makes much ado about removing a lovely, charming donkey from the steeple of a beautiful church and yet makes very light of the biggest banking scandal and all the criminal complaints being lodged in Luxembourg and elsewhere regarding Landsbanki Luxembourg implying it is an ICELANDIC problem.
To the watching crowds, the problem is the way the administration has failed in it’s FIRST duty and the supervision has seemed more of a, ‘you scratch my back, I’ll scratch yours’ situation!

Who has not asked the obvious question?

Why did Attorney General ROBERT BIEVER jump into deep, muddy waters with such speed in order to defend his friends, the HAMILIUS/GUILLAUME duo over the Landsbanki administration scandal?

“WHY is it that OCTAVIA MODERT was chosen to replace FRANCOIS BILTGEN as Minister of Justice of Luxembourg just at this time, when the Government was trying to keep the scandal of the administration of Landsbanki Luxembourg out of sight and out of the press?

Why did WORT put a headline saying :

“ ICH SEHE KEINEN BETRUG IN DIESEM DOSSIER”, or “I see no fraud in this dossier” when Luxembourg is the only country NOT to have opened investigations into all the allegations of fraud, false accounting, manipulation of accounts to transform creditors into debtors, embezzlement of money from accounts, harassment, abuse and intimidation and false dates and figures on documents presented to Civil Courts across Europe?
Is the Hamilius/Guillaume team saying that they know better than the top Criminal Judge in France, the Procureur General of Iceland, the British Courts and the Spanish Criminal Courts who are interviewing and investigating the Criminal aspects of this file and are in Criminal procedures, without having even opened an investigation let alone reported any of the false accounting and the manipulation of SCR to fabricate debtors out of creditors?

Why did WORT on the very same day write a completely different article in English which did NOT say the same things nor have that headline which gave a clear and false message to the Luxembourg people, just before elections, that there is NO FRAUD in this dossier?
Was this because thousands of the victims and families do not speak German or was it because, having seen many of the client’s files they knew very well there had been fraud?
Why did WORT write the headline
“LANDSBANKI: LES VICTIMES “SATISFAITES” just before the elections when they knew how angry we were about our abominable treatment in the hands of the administrator?

Why was OCTAVIA MODERT chosen when LAURENCE MODERT was a part of the YVETTE HAMILIUS/ KARINE GUILLAUME team and appears on the letterhead of correspondence demanding payment of embezzled money from accounts and false accounting?

IS THIS THE SAME FAMILY?

Why was Octavia Modert selected as Luxembourg’s Justice minister precisely when a CRIMINAL complaint had been lodged and when she had had such bad ratings in one of her many jobs and above all, when she was the chief of JEAN-CLAUDE JUNCKER’s cabinet and is Vice President of CSV?
IS THIS THE SAME ‘FAMILY ‘?

We all know That Jean-Claude Juncker’s major concern has always been protecting the interests of the banking sector and above all Luxembourg banks and he did not want the Landsbanki administration scandal to be exposed as it had been concealed for 5 years just like the other scandals had been.

We have just heard of another death of one of our friends. We are angry. How can lives, which have been destroyed by negligence and abuse, neglect and callous disregard for respect, truth and justice, ever be forgotten?
How can people who have died in unnecessary fear and anguish, be forgotten or people suffering serious illness directly linked to the psychological abuse of this neglect, ever be compensated?

We sympathize deeply with the people of Luxembourg who are unable to speak out and we stand by them.

Many of us have good friends and relatives in Luxembourg and know that Luxembourg has been as mis-informed about the gravity of the Landsbanki Insolvency Administration scandal and it’s shameful supervision, as they have been in the other 3 scandals, which brought about the dissolution of Luxembourg Parliament.

_______________________________________________

This is from the Sigrun website, written by Mr R.L. Dogh in July 2012 and is worth a read. For Mme Habilius read Hamilius.

As a rule I do not pay much attention to the dealings of receivership administrations. Administrators tend to be single-minded and predatory in their pursuits of liquid-assets, and often blindly ruthless in their efforts to liquidate debtors, ostensibly on behalf of creditors.

Much of my interest in Landsbanki matters is to determine how much, if any, of the Landsbanki banking, and other financial dealings, were actually, meaning in the contexts of their times and practices in those times, before the eruption of fraud that brought the collapse, and continues it. I have not found much real dishonesty, most that appears dishonest seeming so for the playing field being tilted and jiggled in efforts to dislodge and knock down the Icelandic banks,for their not playing in step with the bent banks and bank regulators (they were playing off them, in fact, which was accounting for much of their success until their taking down). And some appears result of their playing close to the wire, especially toward the end, when they were attempting to draw back and reduce their leverages.

It appears to be in the last effort that Landsbanki, in its Luxembourg offices, engaged in the activities Mme Habilius appears to be attempting to take advantage of.

I have not studied these activities, but have only glanced at them. From glancing I suspect Mme Habilius may be extending her efforts where her authorization as an administrator, supposed to be representing creditors, primarily investors in Landsbanki, and law may not allow.

Mme Habiius appears to be attempting to cannibalize, to victimize some creditors for the benefits of others. That is, to commit theft from one class of Landsbanki investor/creditor to benefit another. Making Mme Habilius’ effort worse is that those she is appears to be atteempting to vicitmize appear to be what we may term “retail investors”, meaning non-professionals. The investor equivalent to bank depositors, who, for that equivalence, ought be privileged as depositors are, to protection, to having their investments protected by the law in parallel as depositors’ deposit investments are protected.

This will be true if the following is essentially correct: Landsbanki Luxembourg, seeking investors to purchase its bonds, it increase its asset base, to offset its loans portfolio, to lessen its leverage ratio, made offers to property-holders so that it might use the value of their properties, or the equity portions, as bond-value.

Equity value in property is essentially equivalent to money tucked into a mattress for the owner of the property. Landsbanki’s effort,, in this analogy, was to draw the owners of the equity “money in the mattress” to bring their equity/money to the bank to deposit, to earn interest, as bond income in the equity case.

Landsbanki converted the property value to monetary value, paid a preliminary, up front, bond-coupon return to the encouraged equity investor, with promise of future coupon redemption payments as well, that would in the end be interest payment on the Landsbanki bonds “bought” with the “converted value” of the enticed “investor”. The investors are designated enticed because it was landsbanki who needed and wanted the funding, and set up the dealings so that property owners without liquid funds could become, be made through the dealings, Landsbanki bondholders.

None of this is illegal, and had Landsbanki not been destroyed, and so been able to carry on banking, the coupon payouts ought have gone on as professional investors’ coupon payouts on liquid-cash bought bonds normally go, and also would have gone for those bond-holder Landsbanki creditors, had Landsbanki not been destroyed.

For Landsbanki setting up the property to cash valuation to investment in Landsbanki bonds to facilitate, and obtain, the investment of the values in Landsbanki bonds, the owners of the properties manipulated, legally, for this purpose are not Landsbanki debtors, they are Landsbanki creditors, along with other Landsbanki bondholders, the professional ones, who bought Landsbanki bonds with cash, on their own volition, without being drawn to bring their money out from their property mattresses to provide Landsbanki to use. It is the drawing out Landsbanki did that makes the property-owner bondholder investors “retail” investors, like depositors, instead of professionals, and so, by parallel,equitably entitled to protection similar to that the law affords to depositors.

In any case, as Landsbanki bondholder investors the property-backed Landsbanki bond buyers are Landsbanki creditors. They are not Landsbanki debtors, as Mme Habilius appears to have characterized them so that she might claim an administration right to their properties.

If what is just described is what occurred, Mme Habilius’ has had responsibility, as the Landsbanki Administratrix, to protect the property-owner Landsbanki bond-holder investors, and to make them whole, or as whole as possible, to return to them their investments, in their cases, their properties rather than cash.

What Mme Habilius sounds to have done sounds like attempting theft by deception, mis-characterizing a class of Landsbanki bondholder investors as “debtors”, so that she might rob them of their properties, ostensibly to give to other investors, to make them whole.

If this is the case, Mme Habilius will have engaged in robbing depositor-equivalent “retail investors” to make professional investors whole. This would be a fairly significant crime. It would be matter for EU Courts of Justice more than the courts of Luxembourg to take up. It would, however, be best to present the matter in the terms described here, if they fit the circumstances, to the authorities of Luxembourg, and to Mme Habilius, to allow them to consider them in correct light, if they have misconceived or misinterpreted the true nature of the property-owner induced-Landsbanki-investor landsbanki creditors, and to make amends and restitutions.

As I have said, I have only glanced at the situation. I have not looked into it in depth. Homeowners who have been victims of Mme Habilius’ misunderstanding, or machinations, whichever they might prove to be, should Have their lawyers review their situations in light of this interpretation. If Landsbanki did invest the funds they converted the home-owners’ homes’ equivalent values to in Landsbanki bonds, negotiating the deals to facilitate the investment in Landsbanki by Landsbanki, this assessment, and interpretation of the situation, is correct.

_______________________________________________

This response was lifted from The Mail on Line after the article by Ruth Lythe.

There is little greed here, except that of the bank in question and their unregulated financial advisors, better known as Costa cowboys. In truthness, most victims did not need that “extra” income, which nonetheless was promised, but were almost were forced into signing on grounds that Inheritance Tax could be avoided legally by doing the absurd thing of registering a mortgage loan against the property and shipping the proceeds to some opaque tax-haven. All these banks used lies, tricks, dissimulations and over-complexity to lure unsuspecting people into this toxic tax-evading scheme so, stating that it was greed that put them in this situation is a rather simplistic statement. I wonder what could a 90 year-old London wartime dancer know about bonds and stocks…

– Antonio , Marbella, 15/3/2012 06:31

Read more: http://www.dailymail.co.uk/money/news/article-2114618/Expats-fight-homes-losing-life-savings-Icelandic-bank.html#ixzz2OFXeaOqS
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This was taken from Sigrun’s blog 20/03/13, written by George Ward a regular and well informed contributor. 

There are many people wondering why Iceland appears to be staying shy of the huge LANDSBANKI multiple manipulations, mis-selling and so much more.

The LANDSBANKI Luxembourg case has put Iceland in a bad light which means it is all the more important to forensically examine the shady corners many do not want exposed.

ICESAVE has put LANDSBANKI and Iceland on a world stage and people have applauded the democratic, dignified way the Icelandic people have stood up and said NO to the Banksters and NO to the Government protecting the Banks and robbing from the people.

Iceland is standing high and proud, as a nation who has stood up for JUSTICE and punishment for the wreckless and greedy people both Bankers and Politicians who have brought the decent, law-abiding world to its knees.

Iceland puts London to shame!

LUXEMBOURG is responsable for the LANDSBANKI EQUITY RELEASE SCANDAL which it blames Iceland for.

This Equity Release Scandal will affect the future of Europe as it is a shameful abuse of the pensioners who had saved all their lives to own a family home.
The abuse of the elderly is something to be ashamed of. Europe cannot be a place that allows the abuse of the elderly, by Bankers, Politicians and the very people who should be helping to protect them.
Abuse of the elderly should not be tolerated, especially in the middle of Europe which prides itself in HUMAN RIGHTS.

These are people who have brought up families,saved and have been seriously mis-sold a flawed product based on lies, manipulation of figures, over-estimations one minute and under-estimations the next.
They have been harassed, bullied and psychologically tortured by a callous administration and judiciary who have not looked into any of the criminal allegations lodged against them as they continue to seize their homes and have even stooped as low as to attack the 2 lawyers who are defending them.

It is not fair that Luxembourg should stay in the shade of scandal whilst Iceland is fully exposed to forensic examination by the world.

Luxembourg has used Iceland in order to stay in the shade, hoping the bullying tactics used for years on these elderly victims will make them break or perhaps die, as 14 already have.

If those responsable for what happened in LANDSBANKI are not brought to justice, I believe Iceland will be blamed for what Luxembourg wants to get away with and it will then be too late for Iceland to do the right thing.

Iceland should stand for what it’s honourable people have fought for and set an example to the world.

NO to financial terrorism and abuse of decent people by Banksters!

IT IS VERY IMPORTANT THAT LUXEMBOURG UNDERSTANDS AND DIGESTS THE IMPORTANCE OF THIS.  From Sigrun Blog
 
“The ( Winding up Board) WUB clearly is of the opinion that already by the end of 2007 PwC knew the bank’s position was a lot more precarious than the accounts showed. According to a presentation to a Landsbanki creditors’ meeting in December 2010 the bank’s capital had fallen below the legal limit before its collapse in October 2008 – probably already before the end of 2007. The bank’s definition of “related parties” wasn’t correct, in leading to over-risky loans to the bank’s largest shareholders, Bjorgolfur Gudmundsson and his son Bjorgolfur Thor.”
 
_________________________________________
Taken from the Landsbanki Victims Facebook site 9th March 2013
From Will.R.: “A Luxembourg Lawyer said that IF THE LUXEMBOURG COURT HAVE FAILED TO RECOGNISE THE LANDSBANKI SITUATION CORRECTLY, it is because the matter has been misrepresented to them. They have not understood nor considered the wrongful actions . Now, 4 years later they have increased the offences by adding more. This case will now have to go to European Courts as it is far too important for the future of Europe. This sort of abuse cannot happen again.”
________________________________________________
Spanish victims should read this link

 http://erva.es/2013/03/09/equity-release-for-fiscal-planning-is-tax-fraud-confirmation-in-writing-received/#more-915

 

 

 

16 thoughts on “Opinions”

  1. FINANCIAL ADVISORS WHO TELL LIES.

    NAME AND SHAME

    It has been interesting going through our papers again to find that the IFA’S that we used, Anthony & Cie, represented by their adviser a Mr Matt Anderson told the most enormous lies when selling us the Landsbanki Equity Release scheme (Scam).

    We were advised, by email, that the Landsbanki balanced portfolio was a conservative investment for us and that to date had performed at and above the 6% benchmark, sufficient to cover our loan interest he confirmed.

    This was March 2007 and he was referring to a Landsbanki fund that was started in 2003. The only problem was and here is the porky, Landsbanki did not start the fund until 2007 !!

    Another example of just how crooked this scam was, from the very top. Now it is about time that the authorities admit to just how dishonest this equity release scheme was and for us all to be able to continue with our lives.

  2. Hello Nina, we too have heard of these people, in fact they sold us the whoile rotten scheme. I have today tried to find their facebook site but despite spending ages cannot seem to find it anywhere. Did you see it when you wrote your blog ?

    It strikes me that we all need to start really bringing to everyone’s attention the failings of these so called IFA’s “Experts in investment” people, otherwise known as con men. They were the perfect tie up for this wretched bank to peddle their illegal scam.

  3. “The bankruptcy trustee acts for the benefit of both the
    bankrupt company and each and every creditor. He/she
    will be responsible for hearing the directors of the company
    and will need to inform the public prosecutor of any
    misconduct amongst them.”

    So how can the administrator Yvette Hamilius and the Judge Commissaire Karine Guillaume not
    1.) see the manipualation and gross abuse of the SCR Security Cover Ratio which
    a.)very suddenly dropped the value of houses, arbitrarily, uniformly by the same percentage throughout both France and Spain.
    b.) In many cases funds in personal accounts not to be invested, disappeared with no justification
    c.) Investments were being made in other failing Institutions, when the bank was sinking and was in all probability already bankrupt , even though not officially announced, as clients could no longer get transfers at the beginning of August 2008.
    d.) Was it legal for the Luxemboug Central Bank to give a loan to the sinking Landsbanki who was in serious liquidity problems and so desperately needed this loan that they were pulling in Equity Release assets to secure the loan to try to save the Bank from sinking? WAS THIS NOT ABUSIVE LENDING?

    SHOULD THE CENTRAL BANK OF LUXEMBOURG HAVE GIVEN THIS LOAN TO THIS CONDEMNED BANK AS IT WAS INSOLVENT AND DID THEY THEREFORE ARTIFICIALLY DELAY THE INSOLVENCY DECLARATION?

  4. No2Fraud a well written blog thank you, many questions but as usual no answers. I have another question to add to the list.

    Were the victims of this scam ever really advised exactly what they would be signing up to and in all honesty would they have done so if the facts had been honestly presented.

    After all we are talking here about elderly people whose life savings were tied up in their houses. They are not rich they mostly just reached that point in their lives when they had paid off their mortgages and wanted to release a little capital to help with every day expenses.

    For certain they were not in any prepared for the sharks that came along, with all their smooth talk, and basically conned them out of everything they
    owned.

    So I ask you this. How would you react if you heard that your grandparents had been fleeced by a con man ? I would imagine that all of you would demand that the authorities find the culprit and endeavor to recoup their money. At the very least you would expect the culprits to be bought to justice.

    Well welcome to the world of the Landsbanki Victims. Fleeced and hung out to dry, not even afforded the decency of an investigation by the one person who should be doing that, THE ADMINISTRATOR.

    COME ON AUTHORITIES ACT AS YOU SHOULD AND PROTECT THESE POOR VICTIMS.

  5. Nina
    I totally agree with your view and that of No2 Fraud.

    Your comment “COME ON AUTHORITIES ACT AS YOU SHOULD AND PROTECT THESE POOR VICTIMS” is admirable but it assumes the authorities are reading these comments, which I very much doubt. Some time ago I wrote to a number of
    these authorities only to find myself in the Pass the Parcel game.

    In parallel to the actions taken by our solicitors we need to make the Authorities publicly demonstrate what action, if any, they are taking to “protect these poor victims”.

    I would like to know if others have experienced the same calculated indifference as I did. I think it is time for me to re-open the earlier correspondence and publish on this web site whatever responses I get. Possibly we might shame them into action.

    I would like to know about the experience of others in attempting to obtain support.

  6. We were horrified when we saw all the lies the Landsbanki Lawyers told in their Defense documents for the Civil Court Judges.

    We have before us, a pile of documents showing very serious lies. These documents are being used to enable Landsbanki to win Civil Cases in order to seize homes of the victims of this mis-sold product and of fraud and manipulation.
    Landsbanki Lawyers have been putting lies into their documents, false information and using the same manipulation tacticts we have been victims of, as far as we can see.

    How can any lawyer blatantly lie to evict pensioners and auction their homes when any person taking a glance at the figures and dates in the Landsbanki fiasco can see there was fraud, manipulation of the Security Cover Ratio and that the wreckless Bank should not have been operating after mid- 2007.
    This is clear in the SIC Report and it is even more clear when you see that even Landsbanki WuB Winding up Board is attacking PwC Price Waterhouse Cooper for giving false accounting in order to make Landsbanki appear to be in better liquidity than it was during 2007, in spite of the ICESAVE cash cow as they had serious problems elsewhere .
    These other problems also explain why there was a mad rush to grab assets from Equity Release clients. This is why we were told such a PACK OF LIES. Landsbanki NEEDED TO SELL US THIS PRODUCT as they had to show the assets raked in from Equity Release clients to the Luxembourg Central Bank in order to get a loan, when in fact Landsbanki had already failed. The bank was on artificial respiration even though dead.
    Is this why so many dates are wrong on the Landsbanki documents and why the Fund managers regularly told us not to put the date as they would do that in Luxembourg?

    HOW MANY PEOPLE WERE SENT THE OUTRAGEOUS ‘RISK CLAUSE’ LATE IN 2008 AFTER THE 8TH OF APRIL OR SO CALLED ‘SUSPECT PERIOD’ AND TOLD NOT TO PUT THE DATE BUT JUST TO SIGN IT?

    Ex-clients say, for instance :
    “We were told that if we did not sign the ‘risk clause’ sent at the end of May by email, we would not get any more transfers as they said we should have signed it at the notary’s but they would ‘fix it’ by putting the date in Luxembourg! They told us NOT TO DATE IT…..(of course they did….. the Bank had already gone down!)”

    It is written in Landsbanki documents used in Court and on the Contracts themselves that clients had opened an account with the Bank BEFORE the clients had even heard of the Bank!

    One case we have in the Group shows Landsbanki Lawyers claiming they had opened an account on the 2nd of July 2007 when the clients only heard of Landsbanki in Mid-July and their contract was not registered until 2008 and funds first made available in January 2008.

    One has to ask , how it is possible to open a Bank account in a Bank you have not been introduced to and have of course not signed a contract with?

    What is even more staggering is that Landsbanki Lawyers presented the Civil Court Judge with a document that must have had a false date which was used as a piece of court evidence! …
    Who wrote the false date on that document? Why didn’t Landsbanki Lawyers check the veracity of documents they were presenting in Court?
    The lawyer must surely have known it had to be false as the first contrat was signed 3 months after that false date and notarised 5 months later. There simply could not have been an account opened on the date they evidence in Court, could there?

    Other Landsbanki documents claim Loan Contracts were signed on dates when the clients were not even in the country. It seems Landsbanki just added dates randomly in Luxembourg!

    Another case shows the Landsbanki documents claiming clients had signed contrats on certain dates witnessed by Fund Managers when the clients were in the USA and the contract was in French. On the dates they claim the first contract was signed, they were in the USA and on the date they claimed the second contract was signed they were in the USA!
    Others were told bonds which were issued in 2003 were doing very well when in fact the bond had not existed before 2007. Others were told they had invested the money released for their personal use, which they were promised would not be put to any other use than for their personal use.
    At the same time in different documents, this is contradicted and it is claimed that this reserved sum had been put in a term deposit. The clients were told it was in a separate account for their personal use to be drawn down as required. The administrator says these clients invested their reserved money in risky ventures and lost it and yet she cannot show any proof of this nor accounting as they have mixed everything and ‘forgotten’ to put any dates. Everything is mixed together, without dates no investment orders and no proof of investment.

    The Landsbanki accounting is a disgrace to Luxembourg.

    Of course Landsbanki cannot produce any orders of any investments nor any proof that they were in fact made.

    This is why this case must be heard in European Courts. The future of Europe depends on the results of this case. This case is a European- wide Case.
    The targetting and systematic abuse of the elderly and the terrible treatment they have received for nearly 5 years, is a European disgrace.

    It seems those handling the Landsbanki mess feel confident Luxembourg will protect the Banker whatever the crime and this seems to be fuelling their callous disregard for the victims of this Bankruptcy and for their lawyers as well as other European Judges seeking to investigate Crime and see Justice is served, not just Bankers.

    Never has Luxembourg shown such disrespect for so many thoroughy decent law-abiding people, their families as well as highly respectable lawyers and Judges in Europe, in order to protect so few delinquent Bankers from a failed, wreckeless bank which used and abused Luxembourg as much as it did it’s victims.

  7. It seems to be endemic that these banks not only enter their own dates to suit themselves but also in other cases such as Nordea Bank Luxembourg actually stated that the contract was signed in Luxembourg when the victim had never been to Luxembourg in his life. Similar situations have been found with Landsbanki. In most other cases victims were asked to leave it undated. It seems to us that the banks operating out of Luxembourg feel they have nothing to fear from the Luxembourg regulators. After all the banks do subscibe to these organisations amd as a result seem to think that they are beyond prosecution. We have yet to find anyone who has won a case with the authorities always they have some lame excuse to find in favour of the banks. Can justice be obtained in Luxembourg under the present system we wonder

  8. No2fraud & Erva

    Your views made me think of Alice in Wonderland:

    In England a leading politician and his former wife are found guilty of perverting the course of justice. So serious is their crime that they received prison sentences.

    In Luxembourg (or should I say Alice in Wonderland) they take the opposite view: the Courts, Bankers, Regulators, Auditors etc etc do the perverting, whilst we, the victims are imprisoned in our blighted properties. During the last five years my punishment for NOT perverting the course of justice is imprisonment in a property, that I cannot even think of selling or modernising, whether it be to downsize, upsize or release cash.

    Perhaps a joint letter from the Victims to all our Euro MP’s might help to expose the current farce which only Alice could possibly understand?

    A copy of such a letter should of course be sent to Jean-Claude Junker, Prime Minister of Luxembourg – it might make his realise that his blind delegation, for what he himself is responsible will ultimately undermine his cherished belief of Luxembourg’s important role in Europe.

  9. Jean-Claude Junker must be either a fool or severely mis-informed if he is not aware of the damage being done to Luxembourg by the scandalous administration of Landsbanki under the power, arrogance and rudeness of the administrator and the seeming negligence of the judicial supervision, don’t you think, sunshine?

    Did you hear the speech given at the European Conference by Luc Frieden, the Finance Minister? He hopes Europe will have confidence and trust in the Financial Sector of Luxembourg and yet how can this be possible when despite several Criminal proceedings, record-breaking cautions, indictments for fraud and mis-selling of ex-directors, serious ongoing investigations into Crime by top Criminal judges, Luxembourg still allows Ygvette Hamilius the administrator and Karine Guillaume, the judicial supervisor to continue to ignore the rest of Europe demanding answers to questions regarding the legality of the Landsbanki Equity Release scandal and the ensuing cover-up of false accounting, looting , disappearing money.

    PRETENDING NOTHING IS WRONG IS NOT A SOLUTION.

    Luxembourg is turning a blind eye to serious Banking fraud and grotesque harassment of scammed and abused pensioners who have had their lives and homes seized, health destroyed and these precious years of their lives irreparably POISONED by those who do not care about human beings and families, but only of power and the usefulness of colluding with the abusing Banker and his cronies.

    How can the Finance Minister, the Prime Minister or anyone else trumpeting the subliminal virtues of Luxembourg’s Financial sector think they can get away with such abuse of the most vulnerable section of adult society, hitting directly at the heart of European families without losing any reputation they may have?

    It is time for Luxembourg to wake up and put a stop to the power that has been given to people who cannot see further than the end of their own self-serving nose! These are the people who are bringing Luxembourg down into Banana Republic disrepute as they happily destroy hundreds of families who were believers in Luxembourg.

    This Crisis the Bankers and their colluding cohorts have plunged the world into is
    NOT JUST A FINANCIAL CRISIS BUT A MORAL CRISIS .

  10. It seems that at long last the authorities are waking up to the reality of the situation. You cannot keep a lid on corruption forever, something has to give. The case with Luxembourg is that too many individuals are trying to protect vested and corrupt interests.
    However the last few weeks have seen some dramatic events unfold. We have the arrests in Iceland of the managers from Landsbanki, the call to court of Björgólfur Thor Björgólfsson, action by the investors group referred to in the article of Sigrun’s and the letter sent to the Chamber of Deputies in Luxembourg by Serge Wilmes (a deputy) regarding the equity release scam operated by Landsbanki Lu.
    I am sure that at long last these matters cannot be ignored for to do so would mean that the corruption reaches to the highest levels of the government. This cannot be allowed to happen and certainly not when Luxembourg is trying to present a squeaky clean image to the world. This presents them with an opportunity to show they are not prepared to tolerate this sort of -behaviour.
    Nina Foster

  11. Sunshine has seen very clear written evidence that, prior to the liquidation of Landsbanki Luxembourg, a large sum of money was taken from a Victim’s saving account, and used to purchase Bonds issued by the Bank itself. Within weeks these were worthless. This action was a Breach of the Contract; and it is highly likely that many other similar transaction took place in an attempt to save the Bank.

    It is important to know if any Victims suffered in the same or similar way. The Bonds description is “LANISL FLOAT 12/09 Isin XS0208211911”

  12. Sunshine, I know of others who were in the same situation that you describe. There are also others who were in the Balanced portfolio who were not party to where their funds were invested. There must however be records held somewhere that can give this information.
    What is incredible, and perhaps suspicious, is that there has be absolutely no investigation by the administration of the Bank to discover how these funds were used, and latterly fraudulently misappropriated.
    We are hoping that as a result of the pressure that our group, and our lawyers are bringing to bear that this matter will be addressed. We are also confident that when this happens it will become apparent that the Equity Release victims are creditors, will be treated as such and be compensated accordingly.

  13. Nina Foster has written on our Facebook site June 20th

    PROFESSIONAL MISCONDUCT ON THE PART OF THE LANDSBANKI ADMINISTRATOR ?

    Now that the Banking Standards Report from MP Andrew Tyrie has been published as reported on our Facebook, with suggestions of prison sentences for senior bankers who break the law it occours to us that this should be extended within the EU for all officials working in the financial industry.
    We strongly believe that professional incompetence has taken place in the case of the administration of Landsbanki Luxembourg.
    Despite countless requests from the victims of the fraudulent scam perpetrated by the officers of Landsbanki Luxembourg, Madam Hamilius has point blank refused to look into the background of the Equity Release scheme sold to them. Were she to do so it would be patently obvious to her that things are not right. No person in a responsible position and with an iota of intelligence could fail to recognise the serious misconduct at Landsbanki in selling this product.
    Indeed we would actually suggest that the bank directly targeted elderly pensioners as they thought they would be a soft target.
    Furthermore we also feel that she has failed to protect the interests of these poor victims by not immediately freezing all their assets and protecting them from the vagaries of the financial markets. Instead she chose to leave them, without advisers, to the fluctuations of the exchange rates further eroding their assets. She advised all creditors when she took office that she would freeze immediately all interest payments to their accounts, but continued to charge interest to all the victims of the equity release scam.
    In fact one might ask the question “ Was this a plan on their part to milk the maximum amount of money from victims that they felt would be unable to defend themselves and extract sums of money far in excess of anything ever borrowed ?” The reason we ask this question is that most victims of this obscene scam now owe, according to the administrator, in the region of three times the amount they borrowed from Landsbanki. Instead of protecting the investments of these victims the administrator has succeeded in multiplying their debt three fold since she took control.
    That is why we believe this shows complete professional misconduct, we leave you to draw your own conclusion.

  14. As far as the equity release scam with Landsbanki is concerned there is now enough proof that fraud has been committed from the highest level of the bank. What is lacking is the actions required by the administration of the failed bank to rectify these misdeeds and accept what everyone now knows. All they are doing at the moment is condoning the actions of the fraudsters. Time to wake up and act

  15. Surely an administrator who ignores evidence of fraud, embezzlement or accounting manipulations which trigger the SCR or demand for funds not actually owed in order to FALSELY put the client into a default position conveniently just before the bank was officially put into bankruptcy, is guilty not only of criminal neglect but also of collusion and cover-up?

    The shocking fact is that this unethical manoevre of this manipulated SCR sum, was deliberately demanded only 2 DAYS before the bank went into liquidation!

    The bank had already been insolvent for some time without the knowledge of the clients and it is now evident that the insolvency was ARTIFICIALLY DELAYED in Luxembourg, which is surely breaking insolvency law?

    The date was carefully chosen to supposedly validate the demand to fall within the bank’s normal period of operation. N.B. 2 DAYS BEFORE official declaration of Bankruptcy.
    This explains the extraordinary false and unjustified accounting with the drop in the value of cash by 5% as well as the unjustified ridiculous drop in the value of property, by an unsupportable global devaluation of 40% from an already low evaluation before any renovation! This was done by Luxembourg accountants, without any professional estimates or any justification, of property which had often doubled or even trebled in value and property spread over various countries of Europe where prices cannot simply be fixed on the drop of a hat by a Luxembourg accountant who is quite clearly manipulating anything and everything to favour the delinquent Luxembourg bank.

    Who directed these accountants to manipulate facts and figures in this way?
    Who validated these false accounts?
    Who supported these false accounts and manipulated facts?

    These unjustified SCR manipulations were well noted in the French Civil appeal case which was recently won by our two fellow victims Arnaud and Patrick setting a Civil precedent in France as the Civil judges are now understanding the weight of the criminal proceedings and as more incriminating facts are revealed against Landsbanki Luxembourg and the flaws in the administration.

    We all believe you are right Tom, to suggest there has been complete professional misconduct in the administration of Landsbanki Luxembourg and this is what has caused so many to suffer for all these years and has caused irreparable damage to the lives of hundreds of victims across Europe.

    This misconduct by the insolvency administration, should NOT GO UNPUNISHED as it must NEVER HAPPEN AGAIN that a criminal bank is protected and the ex-clients who trusted not only the Luxembourg Bank but Luxembourg itself, should suffer the arrogance, the rudeness and the corruption and criminality we have all suffered, unnecessarily, for 5 years.

    This is NOT only a question of money.
    This is a question of ETHICS and JUSTICE and we have seen neither.

  16. Here is a comment on the elections in Luxembourg received today from one of our members.

    LUXEMBOURG ELECTIONS HAVE FORGOTTEN THE EUROPEAN CONSUMER … the growing scandals of European consumer and bank client abuse are brushed under the old red carpet, which needs to be changed.

    Is it not interesting to note that there is no mention of PROTECTION OF THE CONSUMER in the Luxembourg Political election campaigns, when it is one of the underlying problems dragging Luxembourg’s reputation down?

    This is particularly surprising for onlookers who see so many boutiques, businesses, banks and investments falling on their face and more and more victims of serious CONSUMER ABUSE stemming from Luxembourg, protesting loudly across Europe and taking the Luxembourg companies and banks to criminal court proceedings!

    Surely someone in the Political arena is able to follow what the public across Europe and the wider world REALLY think about investing in Luxembourg in view of all the scandals involving abuse of the consumer and LAX supervision and manipulation of laws that allow abuse of the investor and consumer to continue whilst they pretend there is “NO PROBLEM”.

    As if that is not enough, the outside world now asks how it is possible to repair the damage if a Politician does not even have the courage to mention the PROBLEMS that need SOLUTIONS?

    How can a serious problem be solved AFTER an election if the Politicians do not even mention the problem BEFORE the election?

    OSTRICHES do not solve problems by putting their heads in the sand.

    The time has come when all European ostriches should take their heads out of the sand and smell the problem, as there IS a problem.

    There is a very serious problem and it is about time it was spoken about openly in Luxembourg by the people who should be doing something about it in the future.
    Enough time has gone by where the public has been fed FAIRY TALES about everything being fine in Luxembourg.

    There have been years lost whilst those ostriches failed to look at the facts around Luxembourg’s suffering image.
    Luxembourg’s reputation needs INTENSIVE CARE as Consumer/ Client abuse is a serious illness particularly for a tiny country at the heart of Europe!

    We cannot have a rotten apple at the heart of Europe bringing down consumer TRUST.
    There are many of the top people from Luxembourg who have ambitions of working in the EU and their reasons should be to IMPROVE the EU and resolve its PROBLEMS. It is imperative that these people do not play the ostrich game that Luxembourg Politicians have been practicing with regard to the rights of the European consumer and client and employee.

    The acute case of the Landsbanki Luxembourg Insolvency administration is EUROPE’S PERFECT EXAMPLE of all forms of abuse of CLIENT, CONSUMER and importantly of LUXEMBOURG EMPLOYEES, which encompass as shameful a spectacle of abuse as the European Union would ever see.

    It is important that this case in all aspects should be studied by everyone in the European Justice system and financial Sectors and especially by the European financial Regulators as this case exhibits every flaw in consumer abuse laws fabricated to protect banks, which of course has become the trademark of Luxembourg.

    The cases must be carefully examined and in particular those who are victims of embezzlement in the last days and of disappearing funds who are told for 5 years that “THERE IS NO PROBLEM”, by the lawyer in charge of the administration!

    The Political ostriches are making the problem worse and the solution impossible by ignoring all the information they were given about this case for the past 5 years and pretending,’THERE IS NO PROBLEM”.

    People in power for too long breed ARROGANCE in their inner circle.

    Every ostrich protects the other so they become YES men and around them arrogance in turn breeds negligence of essential facts they are not interested in.

    THEY have become TOO IMPORTANT to look at detail!

    Governments and institutions need people who have the courage to say NO.

    People who have the courage to stand up and say, “ENOUGH IS ENOUGH”!

    Perhaps people in power do not think the small consumer, the small client, the small employee or the small investor is of any importance when they can grab a bundle of loot from a MEGA- MAX- RICH -SEDUCTION brought in from far-away lands, BUT is this not precisely why an ostrich should never leave his head buried for too long in the sand?

    The fact is that a small detail has been overlooked.

    How does TODAY’S consumer feel when he hears a service or Financial product runs from Luxembourg or through Luxembourg? How do big fish like Amazon, Google, Pay Pal etc. feel if the consumer loses TRUST as they are afraid of being abused? If a consumer feels FEAR of abuse, the big company will fall on it’s face and all because the little client, the little consumer felt unprotected!

    This is a question any company should ask consumers. Do you TRUST our business and feel safe about being protected as a consumer?

    It is elementary logic that if the consumer/client/investor/employee is abused consistently in a country, the INVESTOR and CLIENT will run away as fast as they can and chose a place they can TRUST to protect them and also to give their product or service, a good name that will inspire TRUST.

    Products and services running through a country with a name for consumer abuse, will not sell well.

    Investors will not feel safe investing in a country the consumer does not TRUST.
    It is the consumer who buys the BIG guy’s products. Without the consumer, the BIG guy falls on his face.

    There is no point in the establishment press continuing to put out silly Fairy tale articles about what the people outside Luxembourg think of Luxembourg as
    Fairy Tales are not there to tell the truth.

    Will people trust companies selling out of Luxembourg if Luxembourg has a reputation of abusing the consumer? NO THEY WILL NOT. The consumer is being abused and outside Luxembourg there is much protest, which Luxembourg is ignoring.
    If Luxembourg houses the European Court of Justice, Luxembourg should revise it’s laws, which are not in keeping with consumer protection, and bank laws that ensure consumer abuse is “NO PROBLEM” and allows banks to cover-up and get away with crimes and abuse of their clients.

    If Luxembourg has the secretariats of the European Parliament and the European Investment Bank, the Luxembourg government should NOT BE AFRAID of showing them the entire Landsbanki Luxembourg administration file with the examples of what has happened to ex-clients of the failed Luxembourg bank Landsbanki who signed a contract with that bank when that bank was already insolvent. Luxembourg should not be afraid to hand over this file to serve as a sample case for European study as one can see at a glance that money was made to disappear from accounts and client’s funds were used without authorization to buy Landsbanki securities without authority in the last days when the bank had been insolvent since the previous year and the BCL had given a massive loan to the insolvent bank to delay the insolvency.

    This case study of consumer /client abuse will be particularly interesting in view of the treatment of these same ex-clients many of whom had their contracts registered well after the bank was insolvent and who have been treated as criminals whilst no investigations have been carried out since the lawyer in charge of administration says there is “NO PROBLEM”.

    Well there IS a problem. A very serious problem of abuse of the European Consumer/client/small investor/ and of the employee in this case and the individual files should be looked at by those in top European positions outside Luxembourg as the Politics of the ostrich should not be a part of the European Union.
    As the national elections approach for Luxembourg this coming Sunday, all eyes turn to the country as it is put under the international media spotlight and all companies who are relying on the TRUST of the consumer in order to sell their product or their service should be watching with interest to see if there is hope for change or whether the same old red carpet will be rolled out for ostriches to strut on!
    Good luck to the Luxembourg people as most of them have been told “THERE IS NO PROBLEM”, in the Fairy tale stories and a wake- up call is needed!

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