Mallorca Olive Press - Issue 50

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As spring blooms, Property King of cool don’t miss Spain’s most colourful Property Magazine STILL HOT FREE INSIDE s a’ ty ag er al op e M pr azin st be mag

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Issue 27

March 2019

Know what this is? It’s just helped an architect win the world’s most prestigious prize

March 13th - March 26th 2019

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See Legacy on page VI

Spanish maestro celebrated for five decades in the business, see STARchitect page XII

SIMPLE, INTRICATE AND STYLISH: Bofill’s works are all, or a mixture, of the three

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RITISH buyers in Spain have beaten pre-Brexit referendum records despite the doom and gloom, new figures have revealed. Shrugging off the UK’s imminent departure from the EU, the sale of homes to plucky Brits rose 12% in 2018 to 10,178 - beating the 2016 record of 10,156. While UK buyers declined significantly in the quarters after the referendum in June 2016, and by a massive 28% in the last quarter of 2016, they started recovering to increase by double-digits

The Brits have not stopped investing in Spanish property with a 12% rise in purchases last year

last year. It means the UK’s share of the foreign market has been steadily increasing from a low of 14% in the first quarter of 2017 to 17% at the end of 2018. Although this is not yet back to the levels prior to the referendum

due to other nationalities flooding the market, it is expected to rise again this year. According to property expert Mark Stucklin, of Spanish Property Insight, the weakness of Sterling against the Euro was the leading cause of the drop in demand. “Once the Pound stabilised at a lower level British demand also stabilised and then began to grow again,” he explained. Continues on Page III

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Vol. 3 Issue 50 www.theolivepress.es March 14th - March 27th 2019

Lying scum By Gillian Keller

ACTIVISTS from far right political party Vox, have been caught fabricating a hoax about 'radical feminists' beating young girls. It comes after the leader of the Mallorca branch told a 8M Women's Day event that the trio, including his own daughter, were attacked by a group of 'radical feminists' in Son Servera. He claimed the girls were lefts with 'knocked out teeth, a split lip and possibly a broken jaw', at the event in the town. One of the teenage youths was apparently still at the hospital with the jaw injury. The story duly made front pages around Mallorca, but despite public doubts, the anti-feminist party kept up the charade, retelling and posting details of the 'attack' on social media. 'Witnesses' even came forward describing the 'brutal attack'. However, the Guardia Civil soon discovered that no such incident had been reported, and no medical centre had received a patient matching the injuries. Finally, on Saturday, they confirmed the story to be false, with Vox admitting they had been spoofed. The news led to Son Servera town hall to host a protest on Sunday against the party and against spreading 'fake news' about the town. “We regret that a celebratory day for women has been overshadowed by an alleged aggression,” said a spokesman. He assured the town would not tolerate ‘attitudes that harm the good name of Son Servera’. While the party has since denounced a local ‘activist’ for making the story up, another protest was due to be held in the town last night as we went to press. Untitled-1.pdf

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‘Get back in the kitchen!’ Page 6

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Fierce exchange

MPs join battle to get millions back for expats who lost out to rogue FX firm

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BLOCKED OFF EXCLUSIVE By Elisa Menendez

AN expat business owner is demanding action after neighbours put up ‘illegal’ bollards blocking his shop. Martin White, 54, claims his business Hot Spring Mallorca

EXPATS in Mallorca have slammed the lack of action over a foreign exchange firm collapse, despite British authorities claiming an investigation is ‘a matter of priority.’ Dozens of clients, most of them British expats, lost millions of euros when the Palma-based company Premier FX suddenly stopped trading in July last year. Victims have demanded answers but have been left completely in the dark and unable to access

EXCLUSIVE By Tim McNulty

their funds since then. One expat, based in Cas Catala, Pam Gardner has grown frustrated at attempts by the UK’s Financial Conduct Authority (FCA) to ‘wriggle’ out of responsibility. “People in the UK just think it was a case of rich expats with too much money, they don’t realise it was people’s life savings that were lost, money they planned to retire on,” she told the Olive Press this week. She added she was ‘upset’ that local boss Nick Jones has apparently washed his hands of the case and ‘fled’ the island. She has now launched a civil case against the firm, lodged in Palma. It comes despite British MPs now stepping in to demand the FCA probes the case ‘as a matter of priority.’ MP for Dover, Charlie UNDER FIRE: Local boss Nick Jones

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Avenida Rey more Jaime on 1, Santa Find out pagePonca XX 0034 871 510 277

Elphicke, has now met with the authorities to check on progress of the case. He said, this week: “The FCA must treat this investigation as a top priority. Innocent people have been left in terrible financial hardship. “The authorities need to get to the bottom of this urgently.” The move comes after the firm - which operated from Palma, Portugal and London - suddenly stopped trading on July 27. Victims told the Olive Press last year that they had lost up to €400,000 each in life savings after the company was forced into administration by the UK authorities. An action group was formed and now has well over 200 members - many of them in the Balearics - demanding immediate answers. One claimed an initial investigation by Surrey police had apparently been scrapped due to ‘insufficient funding’. The company had been regulated by the FCA for money transfer services but its customers were encouraged to

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DIGGING FRANCO

What’s up at the Valley of the Fallen?

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WEAVING MAGIC

How a Spanish weed boosted

The Olive Press celebrates its 300th issue on the mainland... find out why we are Spain’s best English newspaper in our supplement inside

PINTXO PASSION

Is Bilbao tastier

than San has been forced to cease trade for almost three weeks, after Sebastian? Page 6 the series of 15-inch posts were Page 12 installed. Page 20 As well as blocking delivery trucks, it is putting off clients, he insists. “I’m suffering a loss of €1,000 a day. Delivery vans can’t get through to drop off stock,” White, from Hull, told the Olive Press. He has now called in police and Alcudia town hall, via a lawyer, to demand answers. The problem began when White, who is co-owner of the business with David Camping, EXCLUSIVE By Elisa Menendez 56, arrived to find the series of bollards blocking his shop on August 27. After contracting a legal firm EXPATS in Mallorca may have he was told by both police and lost millions over the suspitown hall that the posts were cious collapse of a foreign exchange firm being probed over ‘illegal’. The businessman is now set to ‘criminal activity’. take the community of neigh- Dozens of victims have lost up to €400,000 each in life savbours to court for discrimination and loss of business for ings after Premier FX Limited was forced into administration €30,000 in compensation. “The next thing I knew, the amount of money’ from the The posts have also been in- by the UK’s Financial Conduct money was gone. I feel sick collapse, according to a close stalled in front of the Muslim- Authority (FCA). make financial transfers via about it,” added the pensioner. friend. owned supermarket next to It comes after the firm - which “I just don’t understand Barclays even after the compawhy no The Portals-based expat him, although ‘mysteriously’, operated from Palma, Por- other media organisations pal, ny had ceased trading. on tugal and London - suddenly who has also lost money, in- boss not the garage the other side. The FCA the island are tackling this.” sisted Jones had been advised the Rexstrew, who also lived in that the has since discovered “It’s totally illegal,” he said. stopped trading on July 27, In particular, she wants Algarve, she was given no company, set up in to ‘go into hiding’ after he was warning “You can’t just put them on one following the death of director, know of the whereabouts to 2006, was operating without of the collapse. of Peter Rexstrew. ‘lambasted’. side without the other.” full authorisation. “I Nick Jones, the island’s former “I know him closely and he to simply found out when I tried It was To make matters worse, three Since then hundreds of clients, director, who has not been forced into administraseen said all employees were in total onemake a transaction but no tion after days after the bollards went in, many of them expats, have for over a month. would answer the phone. I being unable to pay shock with the news. one of the neighbours threw a been left completely in the She is angry that he then emailed and I received this debts and was ‘cash flow insolhad sent “He is not in hiding he has been automatic bucket of water over him from dark and unable to access their out an assurance email vent’ following Rexstrew’s sudreply saying they of the advised to keep a low funds. above. profile ceased trading and there’dhad den death, leaving his two chilcompany’s financial stability be while the investigation is on- no He has also denounced the incidren as joint directors. on June 20, just days after the going. And while a director, in “I further transactions. dent to the police. Victims Assurance death of Rexstrew. immediately have so far received smelt a rat,” she reality, he had no access to the added. “I’ve had the shop for five years Victims very little information from the However, the Olive Press unhave now formed an main accounts.” and I’ve never had a problem. company’s appointed adminWhen derstands that Jones, who action group with nearly 200 She added: “All this is very dis- tion she called the UK’s Ac- istrators “The administrator of the build- members worked out of an office on Paland Barclays and fear Fraud, an operator ex- many of them in tressing for him and his family. plained ing told us this was a personal the Balearics ma’s prestigious Calle La Ramhe knew nothing about they will never get their money - demanding imHe has been completely lam- it. vendetta from residents,” he mediate back. bla, has also lost ‘a substantial answers. basted. I understand people are “I’ve added. been stuck for two months One British expat, based in angry but there have been some without that money which I Palma, told the Olive Press she Criminal really nasty comments. need has no idea what has happened “It is quite clear that Peter’s “It’s for my business. not just affecting people “It’s a real mindfield and like to the €30,000 she was holdchildren were taking over the buying holiday homes, it is also banging your head against ing with Premier FX. business, not Nick.” affecting business owners, who a brick wall,” added another “I had used them for many Another victim told the Olive can’t British retiree, who has lost years and there were never Press she has lost a staggering Most pay staff or clients.” victims had been prom- money. Premier FX and Barany problems,” explained the €400,000 due to the collapse. ised by Premier FX that their clays failed to comment in time 69-year-old, who asked to reThe UK-based businesswoman, money for press. An FCA spokespermain anonymous. who lived for decades in Portu- gated, was being held in ‘segre- son told the Olive Press: “We personal accounts’ with “I had transferred the money gal, has made three monthly Barclays, Untitled-1.pdf 1 16/06/2017 but administrators are very concerned that there and was waiting for the ex15:36 transactions with Premier FX now BAFFLED: By bollards think this was not the case. was criminal activity taking change rate to improve. for 12 years. MISSING: Nick Jones It is also believed that many place at Premier FX in relaDespite being a friend of former clients were still permitted to tion to missing funds. “We are investigating the business and will take action against any individuals we find to have broken the law in order to return money to customers of the firm.”

Expats demand the return of millions after FX company collapses amid fraud probe

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EXPOSED: In a previousHot Hot water issue water Best English Pub in Palma Great food Live Music Every Night from 12am

Avenida Rey Jaime 1, Santa Ponca, 0034 871Find 510 277out more on page XX 15

Ave de Gabriel Roca 4, Palma

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Earthquake Page 18

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SEESOME MORE 14 IN fire bosses have been arrested for allegedly THE RESTAURANT embezzling SOME €7 bosses millionhave 14 fire in public arrested funds. been SECTION for allegedly INSIDE The Policia embezzling Nacional found €7 million in that funds. the Consortium of public Bomberos The Policia Cadiz tookfound Nacional out mass early that the retirement Consortium insurof ance policies. Bomberos Cadiz took out But when mass their employees early retirement insurretired early, chiefs siphoned ance policies. off the money But from when the paytheir employees outs. early, chiefs siphoned retired Authorities off also the money found from disthe paycrepancies in the consorouts. tium’s training Authorities courses. also found disLarge sums in crepancies were to a thepaid consorcompany to provide tium’s training training courses. courses, but no Large evidence sums were paid tohas a been found company thesetraining tothat courses provide took place. courses, but no evidence has Meanwhile, been found that these irregularities courses were place. also found in grants and took subsidies, whichirregularities Meanwhile, cops believe usedfound were also to pay private in for grants and trips. subsidies, which cops believe The irregularities were used to pay for date back private to 2008 and cops believe at trips. least irregularities €7 million hasdate The beenback stolen2008 by those to the top. andatcops believe at least €7 million has been stolen by those at the top.

Costa del Sol hotel has Costa del three Sol months tothree hotel has fight decision months to before it is fight decision demolished before it is A HOTEL is to be knocked demolished

deposit funds, to be used as a type of savings vehicle. It did not have a licence to offer this service, it has Pipe since ban Pipe ban emerged. The company appeared to have got into trouble after its owner Peter Rexstrew died suddenly in Mallorca. The Olive Press can reveal that he had recently started renting a new property in the exclusive Portals area, with a new girlfriend, when he passed away. The pair had been seen out enjoying expensive meals and ‘living the high life’. The FCA did not get back to the Olive Press before deadline. FRUIT growers in the Axarquia are facing a 60% reduction in water FRUIT usein from growers La the the AxarVinuela quia are reservoir with reducfacing a 60% no solution sight.use from the La tion inin water The Junta Vinuela has with decided reservoir to no solimit its lution as the reservoir is inuse sight. already at 22.7% The Junta has capacity decidedand to couldits drop limit use even as thelower if the reservoir is dry weather already keeps at 22.7% up. capacity and could drop even lower if the dry weather keeps up.

down for not having enough class! A HOTEL is to be knocked Benalmadena’s down for not having Hotelenough Vista de Rey must be demolished class! within three months, Benalmadena’s Hotela court Vista hasRey de ruled, must be demolished Andalucia’s within three months, Superiora Court court of Justice has ruled, ruled that the hotel falls shortSuperior Andalucia’s of its four-star Court requirement. of Justice ruled that the hotel falls short of its four-star requirement. Probing

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It began probing the three Probing star hotel and apartment block It began in 2011 probing after it was the dethree nounced star hotel overand planning apartment rules whichin block set2011 aside theitplot after wasfor a defour star hotel nounced over planning only. rules According which set aside to thethe PGOU plot town for a plan star four an apartment hotel only.block was not permitted According to the and PGOU it town also breached plan an apartment rules by being blockover was 700 permitted not square meters and itbigger also DOOMED: Costa hotel breached rules by being over 700 square meters bigger DOOMED: Costa hotel

SMUGGLERS’ W SMUGGLERS’ W

POLICE officers have formed a human wall along a beach in La Linea to ensure that the construction POLICE of a have beachformed officers wall went ahead.wall a human The wall, along between a beach the church in La Linea of Nuestra to ensure that the Senora del Carmen construction andwall of a beach thewent perimeter ahead.wall of thewall, fishing The port ofthe between Lachurch Atunara, to of hopes Nuestra Senora del Carmen and the perimeter wall of the fishing port of La Atunara, hopes to

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ARTWORK SETUP TO 25% OF ACTUAL ARTWOR SIZ ARTWORK SETUP TO 25% OF ACTUAL ARTWORK SIZ


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