Costa Blanca Olive Press - Issue 16

Page 1

OLIVE PRESS

The tel: 966 46 38 45

FREE

WWW.JAVEABLINDS.COM

Want to buy a house like this? Check the price tag in our property magazine FREE inside

COSTA BLANCA

Vol. 1 Issue 16 www.theolivepress.es

Your expat

voice in Spain

October 24th - November 6th 2019

Profits and losses

Please stop BREXIT

The Olive Press joined thousands of Spaniards and Brits in last ditch Brexit protest See page 5

financial ruin, cancer and depression

BEST

BACKING DOWN: Carles

Confusion reigns

SPAIN’S prime minister has accused Catalan leader Carles Puigdemont of causing ‘confusion’ after signing a declaration of independence. Mariano Rajoy demanded he clarify if he had really declared independence following Tuesday’s nail biting address to the Catalan parliament. If so, Rajoy insisted he could trigger Article 155 of Spain’s constitution to allow Madrid to take direct control of Catalunya.

“There is an urgent need to put an end to the situation that Catalunya is going through - to Continues on Page 7

Who’s paying us?

E IV US CL EX

How we nailed a corrupt Champagne socialist MP Page 18

huge sums ‘without falling into losses’. Worse, it comes as it emerges that dozens of victims left destitute and penniless by the Denia-based firm are suing Smart and her former partner Darren Kirby. In the first case to reach the courts,

PARTNERING OWNERS FOR OVER 20 YEARS

Specialists in Luxury Villas Holiday Rentals and Sales

Javea - Denia La Sella Golf Area tel: 966 424 505 mob: 647 575 152 www.vacationvillasspain.com

TRAVEL INSURANCE

HOW TO SELL YOUR PROPERTY QUICKER AND BETTER

www.globelink.co.uk

SALES & RENTALS SPECIALISTS

Certified Residential Specialist The Proven Path to Success

Moriara•Calpe•Jalon•Javea•Denia•Altea

96 626 5000 +44 (0) 1353 699082

96 649 1883 www.moraira-hamiltons.net

Avda. Madrid, 24, 03724 Moraira - Alicante

through the company,

e Lions Threpub

C

M

Best English Pub in Palma Great food Live Music Every Night from 12am

CMY

K

e-mail: advocat1@demicco.es mobile number: 636 307 533 WWW.DEMICCO.CH

Find out more on page XX 20

Ave de Gabriel Roca 4, Palma

It is believed at least 300 of CWM’s 900 clients have had their pension pots decimated, with victims shocked to later dis- to end up back in Britcover the value of their ain on benefits.” investments had plum- “I have nothing but praise for Tony Barnett meted dramatically. However, a source [Trafalgar MD] and close to the case in- Stewart Davies [Mosisted: ‘There are still mentum chef execumany customers who tive]. They have been are happy with their magnificent in trying to recoup people’s pension portfolio.’ A n d a l u c i a - b a s e d money.” tax specialist Angie The Olive Press unBrooks, a leading ex- derstands it is highly pert on pension lib- possible legal action may be taken by some eration schemes and the founder of Pension parties against CWM, Life, has now launched a fight to help get victims’ money back. She is working alongside pension trustees Trafalgar International and Momentum Pen- based out of headquarters in Alicante, and its sions. “People are terribly executives. distressed,” Granada- Both the office in Javea based Brooks told the and the website have Olive Press. “They have recently shut. lost large amounts of When the Olive Press their retirement sav- spoke to boss Kirby he ‘definitively’ ings.” denied She added: “Some of responsibility over the these people are going crash. “I have lost my world,” he said. A close associate of Kirby’s told the Olive Press former CWM staff were all ‘very upset’. “It is still quite raw for them, and they are working out what to do next,” he said. Opinion Page 6

Voted

Could this plastic masterpiece win a top European architecture award?

BEST

expat paper in Spain

FREE

Vol. 1 Issue 2

www.theolivepress.es

New quality homes since 1958

New quality homes since 1958

BEST

FREE

971 706 972 taylorwimpeyspain.com

Vol. 1 Issue 15 www.theolivepress.es November 9th - November 22nd 2017

971 706 972 taylorwimpeyspain.com

What do Fatboy Slim, director Paul Haggis, John Travolta, Dean Norris and Pilou Asbaek have in common? They’ve all had links to the Balearics this week

FIND OUT WHY INSIDE

BACKING DOWN:

Pension peril me they knew what they were doing.” He added: “I believe some of the investments were made without my knowledge. I think that is the case because I do not recall signing sheets for all the investments I had.” An email, seen by the Olive Press, shows CWM asking a client to sign and return a blank dealing instruction. Another British expat, 55, who is trying to recover around €200,000, said some pensioners ‘have lost everything’. “My paper work that I sent has been altered, my risk level was changed from ‘medium’ to ‘high’ and my dealing instructions have been photocopied repeatedly for buying and selling assets I didn’t authorise,” he said. “I still have some money left and I am still young enough to get compensation, but my fund

SPECIALIZING IN: CRIMINAL LAW CIVIL LAW BANKING (FLOOR CLAUSE) FAMILY LAW

C

M

Y

CM

MY

A PALMA thief is facing 18 months in jail for stealing a CY leg of ham. Prosecutors are requesting CMY the lengthy term for taking the eight kilogram leg of 'CinK co Jotas' ¡ jamon from a shop in the capital. The Iberico ham is valued at €685, and has yet to be recovered.

Find out more on page XX 8

e-mail: advocat1@demicco.es mobile number: 636 307 533 WWW.DEMICCO.CH

rying’. “This negates the very essence of the service they are meant to offer,” said Flores. “It is a blank cheque to invest wherever, whenever. “If standard practice, this is has gone down by half and I very worrying. need compensation to get it “Signing blank documents back on track. would be seen “But some people as irregular in a have lost everycourt of law. The thing and don’t problem with have enough to these firms is that live on. One rethey were all intired victim only PENSION vesting in highly has €50,000 left risky investments OUTRAGE without from €480,000.” the cliAndalucia-based ents knowing.” lawyer Antonio He claimed that Flores, whose losses sustained firm Lawbird by investors are representwould hopefully ing some CWM be recoverable victims, said signing blank inas the investments that failed vestment sheets was ‘very worto perform, or went bust, were linked to life insurance policies. Pension trustees Momentum and Trafalgar are now attempting to recoup CMW clients’ losses. The Olive Press has so far been unable to discover if CWM was registered to provide investment advice with Spain’s official financial regulator CNMV. New quality homes since 1958

Voted BEST

971 706 972 taylorwimpeyspain.com

BACKING DOWN:

Carles

Confusion reigns

FREE

expat paper in Spain

Vol. 1 Issue 13 www.theolivepress.es

They’ve been getting stoned for centuries. Now UNESCO is interested in Mallorca walls. SEE PAGE 6

As Spain celebrates Hispania Day, the Olive Press runs a rule over Columbus

SEE PAGE 10

SPAIN’S prime minister has accused Catalan leader Puigdemont of causing Carles ‘confusion’ after signing a declaration of independence. Mariano Rajoy demanded he clarify if he had really declared independence following day’s nail biting address Tuesto the Catalan parliament. If so, Rajoy insisted he trigger Article 155 of could Spain’s constitution to allow Madrid to take direct control of Catalunya. “There is an urgent need to put an end to the situation Catalunya is going through that - to Continues on Page

Who’s paying us? EXCLUSIVE

October 12th - October

REuse REduce REcycle

26th 2017

We use recycled paper

As sherry gets big in London, we look at some quirky Jerez cocktails

SEE PAGE 20

7

Expats lose millions in life savings through

CONFUSION reigns over failed who should foot the bill for Mallorca investment hotels hit by the collapse of airnational and Momentum line Monarch. scheme Pensions. Balearic hotels are facing a “People are terribly €10million bill over the disEXCLUSIVE coltressed,” lapse that saw the emergency Granada-based By Joe Duggan Brooks told the Olive repatriation of over Press. 110,000 “They have lost large amounts back to the UK, many HUNDREDS of British expats from are of their retirement savings.” Palma. battling to retrieve She added: “Some of Administrator KPMG pensions after losing their these told the £20 up to people are going to Olive Press ‘the debt owed million in a failed end up back in Britain on benefits.” Monarch to hoteliers will by investment scheme. pension OFF TO OZ: Boss Kirby “I have nothing but praise as an unsecured claim’ rank Spanish-based financial and (above) team against sory adviTony Barnett [Trafalgar for at March charity bash the defunct airline. firm Continental MD] and Stewart Davies [Momen“They will have to file a Management (CWM) Wealth One Marbella-based expat remain tum chef executive]. It is believed at least the joint administratorsclaim to last month obliterating folded told the Olive Press he sunk “The anonymous. 300 of have been magnificent They for all heartbroken many £59,000 through adviser kept telling me, CWM’s the money they are owed,” CWM, only ‘This is 900 clients have had in tryBrits’ life savings. said Many a spokesman. of them had transferred realising he had lost £39,000 below guaranteed, it can’t go their pension pots decimated, ing to recoup people’s money.” The Olive Press understands with victims shocked “It has not been determined their private UK pensions when his pension trustees sent His a certain level’.” it to later money, and that of others discover a statement. through the company, (yet) how much money the value of their inacross Spain and France, whose “I couldn’t believe available to creditors.” will be boss Darren was vestments had plummeted Untitled-1.pdf it. I have put into high-risk Kirby has now1 al- 16/06/2017 lost thousands 15:36 ‘profession- dramatically. legedly moved to Australia. of pounds,” al investor revealed the victim, asking only’ to been claimed. assets, it has However, a source close to the case insisted: ‘There are still many customers who are is highly possible happy with their pension port- may be taken by legal action folio.’ some parties SPECIALIZING IN: Andalucia-based tax specialist against CWM, based out of headquarters in C Angie Brooks, a leading CRIMINAL LAW expert its executives. Alicante, and on pension liberation schemes Both the office in Javea M and the founder of CIVIL LAW and Life, has now launchedPension the website have recently shut. BANKING (FLOOR CLAUSE) Y to help get victims’ a fight The group were pictured celmoney ebrating at a charity back. ball FAMILY LAW CM cently as March this year.as reShe is working alongside sion trustees Trafalgar pen- When the Olive Press spoke Inter- to boss Kirby he MY ‘definitively’ denied responsibility CY crash. “I have lost myover the world,” he said. CMY A close associate of said former CWM staffKirby’s were K all ‘very upset’. “It is still quite raw for and they are working outthem, what to do next,” he said. Find out more on page XX

Three Lions pub pub

e-mail: advocat1@demicco.es mobile number: 636 307 533 WWW.DEMICCO.CH

Best English Pub in Palma Great food Live Music Every Night from 12am

20

Best English Pub in Palma Great food Live Music Every Night from 12am

Ave de Gabriel Roca 4, Palma

Opinion Page 6

Opinion Page 6

Ave de Gabriel Roca 4, Palma

Carles

SPAIN’S prime accused Catalan minister has Puigdemont of leader Carles causing ‘confusion’ after signing of independence. a declaration Mariano Rajoy clarify if he had demanded he independence really declared day’s nail bitingfollowing Tuesaddress to the Catalan parliament. If so, Rajoy insisted he could trigger Article constitution to 155 of Spain’s allow Madrid take direct control to of Catalunya. “There is an put an end to urgent need to the situation that Catalunya is going through - to Continues on

EXCLUSIVE

Page 7

They’ve been getting stoned for centuries. Now UNESCO is interested in Mallorca walls. SEE PAGE 6

FREE

Vol. 1 Issue

13 www.theolivepress.es

As Spain celebrates Hispania Day, the Olive Press runs a rule over Columbus

October 12th

- October 26th

2017

We use recycled

paper

As sherry gets big in London, we look at some quirky Jerez cocktails

PENSION OUTRAGE SEE PAGE 10

SEE PAGE 20

Expats lose millions in life savings

whose boss It is believed by has nowDarren Kir- 300 at allegedly of CWM’s least moved to Australia. 900 clients have One had their Costa-del-Sol- pension pots decibased expat mated, with Olive Press told the shocked victims he sunk to later to end £59,000 through cover the value of dis- ain on up back in BritCWM, only realising benefits.” their he investments had plum- “I have nothing had lost £39,000 when meted dramatically. but praise for Tony his pension Barnett trustees However, a source [Trafalgar sent a statement. close to the MD] and “I couldn’t case in- Stewart Davies sisted: ‘There [Momentum have lost believe it. I many are customers still tive]. Theychef execuof are pounds,” thousands revealed the have been happy with who magnificent victim, asking their pension portfolio.’ ing to recoup in trymain anonymous.to re- A ndalucia people’s “The adviser - b a s e d money.” tax specialist ing me, ‘This kept tell- Brooks, Angie The Olive Press una leading derstands it teed, it can’t is guaran- pert go below a is highly on pension ex- possible certain level’.” liblegal action eration schemes His money, and may be taken by some the founder parties against others acrossand that of Life, of Spain and prihas now Pension CWM, vate many heartbroken 1 UK 16/06/2017 pensions France, was put into a fight to helplaunched Brits’ life savings. through15:36 get victhe company, high-risk ‘professional tims’ money investor only’ back. assets, it She is working has been claimed. alongside pension trustees Trafalgar International and Momentum Pen- based out of headquarsions. ters in Alicante, “People are and its terribly executives. distressed,” Both the office based Brooks Granada- and in Javea told the the website Olive Press. have “They have recently shut. lost large amounts of When the Olive Press their retirement sav- spoke to boss Kirby he ings.” ‘definitively’ She added: responsibility denied these people “Some of crash. over the are going “I lost my world,” hehave said. A close associate of Kirby’s told the Olive Press former CWM staff were all ‘very upset’. Find out more “It is still on page XX for them, andquite raw 20 they are working out what to do Ave de Gabriel Roca next,” he said. 4, Palma

CONFUSION through failed should foot thereigns over who hotels hit by thebill for Mallorca investment line Monarch. collapse of airscheme Balearic hotels €10million bill are facing a EXCLUSIVE lapse that saw over the colthe emergency By Joe Duggan repatriation back to the of over 110,000 UK, many from Palma. HUNDREDS Administrator ish expats are of BritOlive Press ‘theKPMG told the to battling retrieve debt owed by Monarch to hoteliers sions after their penwill rank as an unsecured £20 millionlosing up to the defunct airline.claim’ against in a failed pension “They will have investment OFF TO OZ: to file a claim to scheme. Boss Kirby the joint administrators and (above) for all Spanish-based the money they team at finan- March charity a spokesman. are owed,” said cial advisory firm bash tinental Wealth Con“It has not been Mandetermined agement (yet) how much (CWM) folded Many of them money will be last had available to creditors.” transferred month obliterattheir Untitled-1.pdf ing

SPECIALIZING IN: CRIMINAL LAW CIVIL LAW BANKING (FLOOR CLAUSE) FAMILY LAW

C

M

Y

CM

MY

CY

CMY

e-mail: advocat1@demicco.es mobile number: 636 307 533 WWW.DEMICCO.CH K

Best English Pub in Palma Great food Live Music Every Night from 12am

Opinion Page

6

Pointing the way to two great Easter travel excursions from the hills of Javea to the wilds of Galicia

VENDORS

GUIDE

HOW TO SELL YOUR PROPERTY QUICKER AND BETTER

SALES & RENTALS SPECIALISTS

Certified Residential Specialist The Proven Path to Success

Avda. Madrid, 24, 03724

Moraira - Alicante

info@hispaniahomes.es www.hispaniahomes.co.uk

Want to sell your property? Ask here for our VENDORS GUIDE and get the most success in your task

UK BASED

TRAVEL INSURANCE for Spanish residents www.globelink.co.uk 96 626 5000 +44 (0) 1353 699082

after CWM’s September 2017 collapse left him with just €22,000 from initial investments of more than ₤800,000 (approx €900,000). Davison was diagnosed with depression just weeks after the collapse, before turning to alcohol abuse and developing type-2 diabetes, according to a video shot just before his death. His body, covered with lesions and sores, had lain undiscovered for up to a week in the mid-summer heat at his home in Sanet. “Mark died as a result of what had been done to him,” Timothy Benjamin, a fellow claimant, told the Olive Press. “By the end he didn’t want the daylight to appear.” Benjamin, 67, likewise felt ‘ashamed’ after he lost his €250,000 private pension, reinvested by CWM into ‘risky’ investments, via QROPS. In his official testimony he told the court how he had transferred ₤325,000 (€375,000 approx) from a property sale to CWM on the basis the firm was investing it in a villa in Monte Pego. But court papers revealed ₤200,000 went directly to the bank account of

Want to sell your property? and get the most success in your task

DREAMY: Period

home restored

by British couple

in Spain

See Property Magazine inside

April 11th - April 24th 2019

BEST

Moriara•Calpe•Jalon•Javea •Denia•Altea

April 2019

Judge set to take further boss of suspect investmensteps after expat t company fails to turn up at court

Expats who lost millions rage at ‘unauthorised’ deals involving ‘worrying’ signing of blank sheets

Tel. (+34) 96 649 18 29 info@hispaniahomes.es www.hispaniahomes.co.uk

Issue 28

FACE THE MUSIC We use recycled paper

NOTORIOUS: Disgraced businesswoman Jody Smart accused in financial scandal

Property

www.theolivepress.com

WOAH: Emerging from the rock, this stunning home in Valencia is trademark Fran Silvestre, a Spanish architect who is continuing to make his mark in the architectural world. See Fran-tastic page VI

ROCK STEADY

T

HE average property price in Spain two consecutive years for the first has grown for The national average Prices rise for time house price rose in a decade. two consecutive 3.9% to 8.4%, according from between while years, Along the Mediterranean mortgage values to various However, he added coasts and on sources. ‘at the very least, continue to grow Spanish most foreigners the the data suggests property cording to Tinsa,buy, the average price hike has islands, where Balearic Islands. that the Mortgage lendingcontinued to grow last year.’ been 4.06%, acBut the figures Spain’s leading property appraisal “Prices have been January to 19,390 to home buyers meanwhile company. rising most was up 6.1% new loans, according during the longhave mostly not yet made up for six year recession, the big drops but nothing like they did in theyears since the recovery began, Spanish Notaries. to the Association in enough boom with the exception of The of the respectedto claw back the ground lostyears, and nowhere near an average new loan made in January increase of 0.9% in the bust,” analyst Mark Stucklin, in a year. As long had a value of €135,616, of Spanish Propertyexplained residential acquisitions as mortgage lending Insight. the last continues to increase, for few years, the Spanish property marketas it has done for is set to grow.

(Free or paid for)

SPAIN’S PP party has cious plans for a powerset out audagrab to take back control from Valencia and the other autonomous regions. Leader Pablo Casado announced his commitment to strengthen the central government’s role to the national elections in the run up He insisted that such in a fortnight. a move would prevent corruption and lead to a drop in taxes. EXCLUSIVE Voted It comes as the party attempts By Joshua Parfitt to see expat off the threat from an REuse paper Voted REduce in Spain REcycle Party, whose leader hasinsurgent Vox expat paper REuse in Spain Govt in REduce autonomous parliamentsdescribed the THE beleaguered boss of REcycle exile a failed as the ‘can- wealth management cer of Spain’. company which allegedly lost Under the plan, the PP wants Confusion to increa- million has expats more than €20 reigns se resources for regional ignored a summons to delegations and paralyse government court. transfer of power to the any further Darren Kirby, of Alicante-based regions. Continental Wealth (CWM), failed to turn Management Who’s up at Denia paying us? Supremacy court on March 26. According to Olive Press Casado insisted the move sources he Spain being administered would see was due to turn up, alongside ‘more effec- business former tively’. partners, who The case involves a trio did turn up. The election hopeful stated of investors, that his who e Lions Threpub party would carry out Should a sweeping re- moneylost substantial amounts of have Three Lions view of how the regional when the company folded legged it pub in operate looking at ‘efficiencyauthorities 2017. and equi- Kirby allegedly HOW WE TOLD IT: ty.’ fled to Our 2017 reports llowing the collapse, Australia foSpain’s quasi-federal political finally retur- England.” system ning to Alicante of ‘autonomous states’ last year. former member of staff. The Olive Press exclusively the constitution in 1978.was added to “Darren has been sent revealed “It was a prestigious place but ter Pedro Sanchez, whosePrime Minis- which he didn’t sign for, soa Burofax how CWM abruptly folded in one 2017, day they just the constitution, strongly party drafted will now have to pursue himthe court losing hundreds of expats’ life shut the door,” she in other vings in the sa- said, asking not plan, insisting the PSOE opposed the ways,” a source said. process. to be would defend “A judge Victims had raised named. The firm, which ‘tooth and nail’ the principal of regio- it’s under is dealing with this and Marriott Hotel, was based out of the asked to sign blankfears about being nal self-government. legal review,” in Denia, had ‘eight dealing tions and their pensions instruc- NO “We understand he is he added. to ten’ telesales staff and clients SHOW: Darren Kirby being incurrently in ttered sca- vested in high-risk around Europe, revealed a large commissions.assets which paid res. “It is a blank cheque to invest wherever, whenever. One pensioner based on the Cos- “It ta Blanca told the Olive is very worrying as they were Press he investing lost €210,000 after clients’ money in transferring risky €470,000 despite stating investments as well as highly he had a funds low to medium risk attitude. just because they paiddubious the higher “I was asked, ‘Can you sign this He commissions.” blank form. We will fill added that losses sustained in the detai- investors by ls.’ I did that trusting they would act verable should however, be recoin my best interests,” he as the investments that said. failed to perform, or went “They should have been for me and they were justlooking out linked to life insurance bust, were policies. feathering When their own nests. To me the Olive Press what they were doing.” they knew hold of Kirby in Octoberfinally got denied all responsibility. 2017, he Lawyer Antonio Flores, “I have lost Lawbird is representingwhose firm my world,” he said. of victims, said signing a number blank investSee pages 26-29 Are you a victim or ment sheets was ‘very worrying’. former staff member? “This negates the very essence of the case? Do you know more about financial advisory services,”said Contact Flo- newsdesk@theolivthe Olive Press at epress.es Tel. (+34) 96 649 18 29 CATALUNYA’S beleaguered leader has vowed to fight on from abroad. It came after Carles Puigdemont handed himself in to Belgian police when a European arrest warrant was issued. He and four other politicians are accused on charges of rebellion, sedition, misuse of public funds, disobedience and breach of trust. EXCLUSIVE A judge in Belgium now has By Joe Duggan up to two weeks to decide if they will extradite the group to Spain. BRITISH expats who lost up to €20 million in a failed pension advisory firm believe their Fight signatures may have been photocopied onto investment docuGiven the whole extradition ments. process can take up to 60 Around 300 Brits, most living days, it means he may have in Spain, are battling to retrieve to run his entire election their funds after Alicante-based campaign for the Catalan firm Continental European Democratic Party agement (CWM) Wealth Manfolded in Sepfrom Belgium. tember, as His party wants him to fight Olive Press first reported in the for continued leadership of Boss Darrena month ago. Kirby left for Austhe regional parliament in tralia following the closure of the December 21 elections. the company’s main Javea ofPuigdemont denied he had fices. fled to Brussels to avoid jus- Victims, who are spread across tice but that he left because Spain, as well as in Ibiza, Malthe Spanish government was lorca, Portugal, France and preparing a ‘wave of oppres- Turkey, fear illegal practices sion and violence’ against after being asked to sign blank separatists. dealing instructions. “I’m absolutely convinced Their pension pots were then that the state was preparing invested in high-risk assets a harsh wave of repression which promised for which we would have all commissions. to pay out large been held responsible,” he One 69-year-old pensioner said yesterday. told the “The Spanish state is com- €210,000 Olive Press he lost mitting a brutal repression… €470,000 after transferring if we don’t battle repression had a ‘low despite stating he BOSS: Kirby now in to medium aversion together, the Spanish state to risk’ attitude Australia to investment. may win this fight.” “I was asked, In a show of support to the blank form. ‘Can you sign this he said. We will fill in the “They should have been looking deposed president, around details.’ I Untitled-1.pdf 1 15:36 out for me but they were just 200 Catalan pro-indepen- would act did that trusting they 16/06/2017 in my best interests,” feathering their own nests. To dence mayors travelled to Brussels on Tuesday to stage a rally.

Ask here for our VENDORS GUIDE

for Spanish residents

SEE PAGE 20

whose boss Darren Kirby has now allegedly moved to Australia. One Costa-del-Solbased expat told the Olive Press he sunk £59,000 through CWM, only realising he had lost £39,000 when his pension trustees sent a statement. “I couldn’t believe it. I have lost thousands of pounds,” revealed the victim, asking to remain anonymous. “The adviser kept telling me, ‘This is guaranteed, it can’t go below a certain level’.” His money, and that of others across Spain and France, was put into high-risk ‘professional investor only’ assets, it has been claimed.

CM

In documents seen by the Olive Press, CWM was paid €3,391,873 of commission for selling insurance bonds and investments by two Cyprus-based financial firms, between October 2015 and September 2017. A January 2019 statement from Spain’s financial regulator revealed insurance bonds were sold in breach of the law. What is certain is that this money funded a ‘lavish lifestyle’ for its key players Kirby and Smart, who were in a relationship together from 2011 to March 2017, according to former staff members.

GUIDE

UK BASED

PENSION OUTRAGE

Y

Power grab

We use recycled paper

As sherry gets big in London, we look at some quirky Jerez cocktails

SEE PAGE 10

MY

three British claimants are seeking criminal charges for aggravated fraud, fake accounting and belonging to a criminal organisation. The complaints concern bungled house transactions, unpaid loans and failed pension investments that lost the claimants over €1million between them. One of the victims, Mark Davison, tragically died, aged 59, in July this year

VENDORS

As Spain celebrates Hispania Day, the Olive Press runs a rule over Columbus

CY

Law breaking for lavish lifestyle

An incredible Spanish Inquisition escape Page 20 story

They’ve been getting stoned for centuries. Now UNESCO is interested in Mallorca walls. SEE PAGE 6

Brits’ life savings.

SPECIALIZING IN: CRIMINAL LAW CIVIL LAW BANKING (FLOOR CLAUSE) FAMILY LAW

REuse REduce REcycle

Vol. 1 Issue 13 www.theolivepress.es October 12th - October 26th 2017

Expats lose millions in life savings through

EXCLUSIVE

96 649 1883

EXCLUSIVE By Joshua Parfitt

FREE

CONFUSION reigns over who failed should foot the bill for Mallorca investment hotels hit by the collapse of airscheme line Monarch. Balearic hotels are facing a EXCLUSIVE €10million bill over the colBy Joe Duggan lapse that saw the emergency repatriation of over 110,000 back to the UK, many from HUNDREDS of BritPalma. Administrator KPMG told the ish expats are battling Olive Press ‘the debt owed by to retrieve their penMonarch to hoteliers will rank sions after losing up to as an unsecured claim’ against £20 million in a failed pension investment OFF TO OZ: Boss Kirby the defunct airline. and (above) team at “They will have to file a claim to scheme. the joint administrators for all Spanish-based finan- March charity bash the money they are owed,” said cial advisory firm Continental Wealth Mana spokesman. “It has not been determined agement (CWM) folded Many of them had (yet) how much money will be last month obliterat- transferred their private UK Untitled-1.pdf pensions available to creditors.” 1 16/06/2017 ing many 15:36 heartbroken

www.moraira-hamiltons.net

A WELL-KNOWN expat fashion designer has been accused of receiving up to €1million from an unlicensed Costa Blanca financial advisory company. Companies in Jody Smart’s name were given the money by defunct Continental Wealth Management (CWM) in the two years’ before its high-profile collapse left hundreds of investors an estimated €20million out of pocket, it can be revealed. A total of €999,435 was paid to her fashion label Jody Bell SL and property holding company Mercurio Conpro SL between 2015 and 2017, according to bank statements shown to the Olive Press. Brit Jody, 43, was also paid a €144,000 salary - despite telling a court that she ‘did not know what it meant to be a sole director of company’ and was only involved in ‘marketing and PR’. In a series of shocking declarations given to Denia’s Court of Instruction No.3 it has emerged that the company could ill afford to pay these

Voted expat paper in Spain

971 706 972 taylorwimpeyspain.com

property Malaga’s bestmagazine

E IV US CL EX

Petrol bombs and bullets, Director of disgraced Costa Blanca wealth an Olive Press dispatch management firm rakes in €1million for her from Barcelona Page 6 businesses while trio of British claimants battle

New quality homes since 1958

Continues on Page 2


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.
Costa Blanca Olive Press - Issue 16 by Olive Press Newspaper Spain - Issuu