Mallorca Olive Press - Issue 98

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Fat not fit is what matters

While other health tips for the new year include...

January 27th - February

COVID vaccine 100% effective in first tests with human trials poised to start

Watch that chat

A

Mariano Esteban and

Juan Garcia Arriaza,

developers of the vaccine

INTO THE ABYSS: Proof that Editor Jon Clarke DOES have a heart - see page 12

R-RATED

App ‘n go

chat without a HAVING a 30-secondventilated room facemask in a badlycoughing for half could be worse than to COVID ina second when it comes fection. of CamA study by the University College London bridge and Imperial results in a found that while coughing droplets, speech large number of big These then produces finer particles. air for longer – stay suspended in the up to an hour. people to wear a The report advises and othmask to protect themselves just talking and ers, even if they are not coughing.

GOOD START

race to vaccinate its AS Spain started the Andalucia was population against COVID, an early leader. the vaccination proIn the first weeks of Spain’s first tranche gramme one in four of in the region. of injections was made

Model justice?

SOUGHT: Kirby

A WELL-KNOWN British expat and former glamour model is set to go on trial today. Jody Smart, 44, has been called to answer questions in a multi-million euro pensions scam that lost hundreds of expats from across Spain including Mal-

a 10% rise in SCIENTISTS say that the chance of mask wearing triples infection rate keeping the R number for COVID below one. Health, reWriting in Lancet Digital the numsearchers said that keeping the pandemic is ber below one means shows the numshrinking. The R rate by each carrier ber of people infected of the coronavirus. people in the They studied 300,000 USA to reach their conclusion.

have been AN app to prove people COVID is to be immunised against days. launched in the coming those who have The Junta says that of the vaccine been given two doses the app, will be able to download code. This will which will show a QR so people can be able to be scanned vaccinated. This prove they have been them travel decould be used to let example. spite restrictions, for

Esteban. ‘creates 100% against researcher Mariano has verified that the vaccine susceptible to proven to be 100% effective Arriaza said that the team in a humanised mouse SPANISH vaccine has protection against SARS-CoV-2 important.’ COVID-19 in mice. infection, which is very been modified to replicate Mariano Esteban and Juan will the SARS-CoV-2 The jab, developed by virologists the MVA virus has Centre for Biotechnology, In the Spanish vaccine, of SARS-CoV-2, which is the key that allows Garcia Arriaza at the National S protein ‘within weeks’. to eradicate the complete to enter human cells. move on to human trials of the virus that was used the coronavirus the protein and teaches the Journal of Virol- It therefore introduces the immune system to The vaccine uses a variant the results published in smallpox, according to and eliminate it. vaccine protected belonging it how to recognise one or two doses of the ogy. Spanish biotech giant Biofabri, According to the study, mice from COVID-19. It is being developed withplans for clinical trials already in motion. 100% of the ‘humanised’ the vaccine blocked replito the Zendal group, with jab uses the ‘Modified Ankara vaccinia’ vi- Arriaza added, however, that two doses of in the lungs. protein that manDubbed MVA-CoV-2, the COVID-19 to transport a SARS-CoV-2 the coronavirus, cation of the coronavirus that the MVA vector-based in animal rus (MVA) as a vehicle system defense against “These results demonstrate and complete efficacy ages to stimulate an immune for Scientific Research. produces robust immunity clinical trials,” the rethe Spanish Medi- vaccine its future application in reported the Higher Council for the green light fromhuman trials, which models, and supports waiting now is Biofabri before progressing searchers declared. the first of two clinical could begin in a few weeks cines Agency to kickstart Clinical phases I and II could start in a few weeks.the MVA-CoV-2 vaccine candidate gener- to phase III. on hamsters and macaques. of neutralising “We have observed that now also be carried out response with the production explained Tests will ates a robust immune of T lymphocytes in mice,” antibodies and the activation

DELIGHTED: Virologists

9th 2021

Vol. 4 Issue 98 www.theolivepress.es January 29th - February 11th 2021

And much more in our special four page pull-out - see page 9

orca the r e sav ngs gramme How the Other Ha L ves She s set to be o ned by three other or- about her ash on bus ness she boasted mer emp oyees o Cont nenta Wea th how she was worth €13 m on wh e Management (CWM) at the hear ngs show ng off her floor-to-ce ng shoe that are a year beh nd co ect on and wear ng m ted ed t on J mmy Choos schedu e Fash on des gner The tr a wh ch resumed n Den a th s morn ng w ask her - and e ow emSmart - aka Jody Be p oyees Pau C arke Stephen Ward and Jody K rby - w be gr ed over how her and Anthony Downs - what happened Den a-based compa- to c ents money that was put n h ghny CWM co apsed n r sk nvestments The pr vate prosecut on aga nst the 2017 eav ng many o our co-de endants has been brought the firm s 750 mosty-Br t sh c ents w th by 17 ormer CWM c ents The ast court date was n Febhuge finanruary w th Apr hearca probOLIVE ngs postponed due to ems PRESS the pandem c Law auLast year we exposed thor t es are PAPER TRAIL ormer CWM adv sor a so try ng Ne Hathaway or to trace her stea ng hundreds o ex husband cop es o the O ve Darren K rOLIVE Press a ter we reby PRESS ported how he was Wh e many 147 834 s be ng gr ed as part 952 o CWM ProfitsMovers o the proceed ngs v ct ms ost and We tracked the a the r savlosses d sgraced financ a ngs and a adv sor down to h s coup e commu t -m on euro m tted su v a above Javea c de Smart where he adm tted a eged y travt say ng he had a so e ed bus E ost a ot o money ness c ass to Making theGUID headlines Lega act on coord Amer ca and ved n huge uxury nator Ange a Brooks to d the O ve IN COURT: Jody Smart Press that she was g ad the tr a was v as She a so a eged- fina y on y rece ved up to €1 “The tr a resumpt on w br ng some ong-awa ted com ort to everyone who m on to set up her company Jody Be SL has wa ted or these de endants to be and aunched char ty brought to ust ce ” Grant a W sh wh ch The pr vate act on accuses Darren K rSee page 14 & 16 rece ved av sh pra se by Jody Smart Pau C arke and Steand pub c ty n var - phen Ward o raud d s oya adm nstrat on and org ng s gnatures on ous oca pub cat ons nvestment dea ng nstruct ons In a Channe 4 proCOSTA BLANCA

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Wickedness In what is Spain’s largest legal scrutiny of British-run financial scams to date, the trio were grilled about falsifying documents and miss-selling toxic invest-

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DOWN: Carles

Confusion reigns

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

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

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October 12th

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

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26th 2017

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obliterating many heartbroken Brits’ life savings.

SEE PAGE 10

their private UK through the pensions company,

SEE PAGE 20

whose boss Darren Kir- It is believed by has at least allegedly 300 of CWM’s moved tonow Australia. clients 900 One Costa-del-Sol- pension have had their based expat pots deciOlive Press told the mated, with victims he sunk shocked to £59,000 later dis- to end up back through cover the value CWM, only of their ain on benefits.”in Britrealising he investments had lost £39,000 had plum- “I have when meted dramatically. his pension nothing but praise for Tony trustees However, sent a statement. Barnett close to thea source [Trafalgar MD] “I couldn’t Stewart Davies and have lost believe it. I sisted: ‘There case in- mentum [Moare still pounds,” thousands of many customers chef execurevealed the are happy who tive]. They victim, asking with their magnificent have been to re- pension portfolio.’ main anonymous. ing to recoup in tryAndaluc “The adviser people’s ia money.” ing me, ‘This kept tell- tax specialist- b a s e d The Olive Press teed, it can’t is guaran- Brooks, a leadingAngie derstands ungo below a pert on pension excertain level’.” it eration schemes lib- possible legalis highly His money, and may be taken by action others acrossand that of the founder of Pension parties against some Spain and Life, has now France, CWM, high-risk was put into a fight to helplaunched get vicinvestor ‘professional tims’ money back. assets, it She is working has been only’ claimed. alongside pension trustees Trafalgar International and Momentum sions. Pen- based out of headquarters in Alicante, “People are and its terribly executives. distressed,” based Brooks Granada- Both the office in told the and the website Javea Olive Press. have lost large “They have recently shut. amounts of When the their retirement Olive Press ings.” sav- spoke to boss Kirby ‘definitively’ he She added: these people “Some of responsibility denied are going crash. “I have over the lost my world,” he A close said. associate Kirby’s told of the Olive Press former CWM staff were all ‘very upset’. “It is still quite raw for them, working and they are what to do next,” he out 4, Palma said.

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PENSION OUTRAGE

Expats lose millions in life

savings CONFUSION reigns over through failed should foot who hotels hit bythe bill for Mallorca investment line Monarch.the collapse of airscheme Balearic hotels are facing €10million a bill over the lapse that saw colEXCLUSIVE the emergency repatriation By Joe Duggan back to the of over 110,000 UK, many Palma. from HUNDREDS

Administrator of British KPMG told Olive Press the to expats are battling retrieve Monarch to ‘the debt owed by hoteliers will sions after their penas an unsecured rank £20 millionlosing up to claim’ against the defunct in a failed airline. pension “They will have investment OFF TO to file a claim scheme. the joint administrators OZ: Boss Kirby to Spanish-based and (above) the money they for all team at financial advisory a spokesman. are owed,” said firm Con- March charity bash tinental Wealth “It has not been determined (yet) how much Man- Many agement (CWM) money of them available to folded transferred creditors.” will be last month had

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SPAIN’S PP party cious plans has set out for a audaback control power grab to take from Valencia and the a u t o n o mother ous regions. Leader Casado Pablo announced commitment his strengthen to the central government’s to the national role in the run up He insisted elections in a fortnight. that such prevent corruption a move in taxes. and lead to would a drop It comes as off the threatthe party attempts EXCLUSIVE By Joshua Party, whose from an insurgentto see Parfitt autonomous leader has described Vox the THE cer of Spain’. parliaments as beleaguered the ‘canUnder the wealth managementboss of plan, the PP a failed se resources allegedly wants to increalost expats company which delegations for regional government million has more than ignored a €20 transfer of and paralyse any court. summons power to the further to Darren regions. Kirby, of Continental Alicante-based (CWM), failedWealth Management Supremacy to turn up Casado insisted court on March at Denia the move 26. Spain being According administered would see was to Olive Press tively’. due to ‘more effecsources he The election business turn up, alongside partners, former party would hopeful stated The that his who case involves awho did turn up. view of how carry out a sweeping trio re- moneylost substantial of investors, operate lookingthe regional authorities amounts when the at ‘efficiency ty.’ of company 2017. and equifolded in Spain’s quasi-federal Kirby allegedly of ‘autonomous fled to Australia llowing political HOW WE fothe constitution states’ was system ning to the collapse, finally TOLD IT: added to Alicante last Our 2017 returin 1978. Prime ter Pedro Sanchez, “Darren year. reports England.” whose party Ministhe constitution, which he has been sent a The Olive drafted didn’t sign Burofax plan, insisting strongly opposed will now have for, so how CWMPress excl usively former member the PSOE revealed the abruptly ‘tooth and ways,” a sourceto pursue himthe court losing would defend of staff. folded “It was nail’ the principal hundreds in other said. nal self-government. “A judge of expats’ in 2017, day theya prestigious place vings in the of regiolife sabut one it’s under is dealing with The firm, process. said, askingjust shut the door,” legal review,” this and “We understand not to Marriott which was based out she Victims he added. of the asked had raised be named. he is currently to ten’ Hotel, in Denia, in ttered telesales staff and had ‘eight tions to sign blankfears about being dealing around Europe, clients scaand their pensions instrucvested revealed NO SHOW: a large in high-risk assets being incommissions. which paid Darren Kirby One pensioner res. “It is based on ta Blanca wherever, a blank cheque the told the to invest lost €210,000 Olive PressCos- “It is verywhenever. he investing worrying after transferring €470,000 as they were despite stating clients’ money low to medium risky “I was asked, risk attitude.he had a funds investments as well in highly just because as dubious ‘Can you blank form. gher commissions.” they paid sign this the hils.’ I did thatWe will fill in the He added detaiin my best trusting they would investors that losses sustained interests,” act verable should however, “They should by he said. as the investments be recofor me and have been looking led to perform, that faiout linked their own they were just feathering or went bust, to life insurance were what they nests. To me they When were doing.” knew hold the Olive Presspolicies. Lawyer Antonio of Kirby Flores, whose Lawbird in Octoberfinally got denied all See pages firm 26-29 of victims,is representing a my world,”responsibility. “I 2017, he have lost he said. ment sheetssaid signing blanknumber investwas ‘very “This negates Are you worrying’. the very financial member? a victim or former essence of advisory services,”said Tel. (+34) 96 649 18 29 the case? Do you know more staff info@hispaniahomes.es Contact the Floabout newsdesk@theolivepress.es Olive Press www.hispaniahomes.co.uk at

Judge set to take further boss of suspect steps after investment to turn up at court companyexpat fails

Pension peril

PENSION OUTRAGE

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

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ABSENT: Kirby (above) was a no-show at court, 96 649 1883 Jodie (right) and a previous Olive Press front page Javea - Denia La Sella Golf Area tel: 966 424 505 mob: 647 575 152

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Another is widow Karen O’Hagan, who lost €72,000 ments. of her RBS pension. A total of 17 claimants have It came after she was told brought the private prose- by CWM staff that transfercution as Denia court seeks ring the money was the only to bring former boss Kir- way to protect it for her two by and sole director Jody young children if she passed Smart to justice. away. Kirby failed to attend the hearing on February 24, and could now face arrest. Meanwhile, Smart was able Angela Brooks, who is leadto delay attending the hear- ing the private prosecution, ing until next month due to told the Olive Press the case damage to a restaurant she will set a major ‘precedent’ across Europe. owns during Storm Gloria. Court transcripts passed to “It’s a disgrace that it’s the Olive Press reveal how taken a Spanish lawyer in the ex-employees denied all Spain and a Spanish criminal judge to recognise the accusations put to them. The defendants claimed wickedness of actions taken that former boss Kirby was by all parties concerned. responsible for moving “There is no precedent for the funds from low-risk to this. It is going to shame all the other jurisdictions high-risk. One of the victims, former throughout Europe and beBlackpool bus driver Les yond into acknowledging Hutchings, 67, lost nearly what many offshore advihis entire €117,000 private sors have been doing for pension when it ended up in years. “The scale of this case toxic portfolios without his has made the courts sit up and take notice. knowledge.

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” Smart has previously denied ever dealing with clients or having anything to do with the running of CWM other than promotion online and in the media.

house searches. The 16 and 17-year-olds arrested were charged with the crimes of robbery with violence and wounding with intent.

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

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PENSION OUTRAGE

Expats lose millions in life

savings CONFUSION reigns over through failed should foot who hotels hit bythe bill for Mallorca investment line Monarch.the collapse of airscheme Balearic hotels are facing €10million a bill over the lapse that saw colEXCLUSIVE the emergency repatriation By Joe Duggan back to the of over 110,000 UK, many Palma. from HUNDREDS Administrator of British KPMG told Olive Press the to expats are battling retrieve Monarch to ‘the debt owed by hoteliers will sions after their penas rank losing

whose boss Darren Kir- It is believed by has at least allegedly 300 of CWM’s moved tonow Australia. clients 900 One Costa-del-Sol- pension have had their based expat pots deciOlive Press told the mated, with victims he sunk shocked to £59,000 later dis- to end up through cover the value CWM, only back of their ain on benefits.”in Britrealising he investments had lost £39,000 had plum- “I have when meted dramatically. his pension praise for nothing but trustees However, sent a statement. Tony Barnett close to thea source [Trafalgar MD] “I couldn’t Stewart Davies and have lost believe it. I sisted: ‘There case in- mentum [Moare still pounds,” thousands of many customers chef execurevealed the are happy who tive]. They victim, asking with their magnificent have been to re- pension portfolio.’ main anonymous. ing to recoup in tryAndaluc “The adviser people’s ia money.” ing me, ‘This kept tell- tax specialist- b a s e d The Olive Press teed, it can’t is guaran- Brooks, a leadingAngie derstands ungo below a pert on excertain level’.” it is highly pension libpossible eration schemes His money, legal action and may be taken others acrossand that of the founder of Spain and Life, has now Pension parties againstby some France, CWM, high-risk was put into a fight to helplaunched get vicinvestor ‘professional tims’ money back. assets, it She is working has been only’ claimed. alongside pension trustees Trafalgar International and Momentum sions. Pen- based out of headquarters in Alicante, “People are terribly executives. and its distressed,” based Brooks Granada- Both the office in Javea told the and the website Olive Press. have lost large “They have recently shut. amounts of When the their retirement Olive Press ings.” sav- spoke to boss Kirby ‘definitively’ he She added: denied these people “Some of responsibility over are going crash. “I have the lost my world,” he A close said. associate Kirby’s told of the Olive Press former CWM staff were all ‘very upset’. “It is still quite raw for them, working and they are Ave de Gabriel Roca what to do next,” he out 4, Palma said.

£20 million up to in a failed pension investment OFF TO scheme. OZ: Boss Kirby Spanish-based and (above) team at financial advisory firm Con- March charity bash tinental Wealth Management (CWM) folded Many of them last month obliterat- transferred their had Untitled-1.pdf ing many vate priheartbroken 1 16/06/2017 UK Brits’ life savings. pensions through15:36 the company,

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expat fashion designer has been accused of receiving up to €1million from an unlicensed Costa Blanca financial advisory company. Companies in Jody huge sums ‘without falling into losses’. given the money by Smart’s name were Worse, it comes defunct Continental as it emerges that Wealth Management (CWM) in the two ens of victims left destitute and dozyears’ before its high-profile collapse less by the Denia-based firm pennileft hundreds of investors are suing Smart and her former an estimated partner Darren €20million out of pocket, it can be re- Kirby. vealed. In the first case to reach the courts, A total of €999,435 to her fashion label was paid Jody Bell SL and property holding pany Mercurio Conpro comSL between 2015 and 2017, ing to bank statementsaccordshown to the Olive Press. Brit Jody, 43, was a €144,000 salary also paid telling a court that - despite 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 ny could ill afford the compato pay these

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businesses while rakes in €1million for her financial ruin, trio of British claimants battle cancer and depression

Disgraced businesswoman Jody Smart A WELL-KNOWN accused in financial GUIDE expat fashion designer has been accused scandal EXCLUSIVE of receiving up to €1million from three British claimants By Joshua Parfitt an unlicensed Costa Blanca financial advisory are seeking criminal charges for aggravated after CWM’s company. Companies in Jody huge sums ‘without accounting and belonging fraud, fake left him with September 2017 collapse falling into losses’. given the money by Smart’s name were Worse, it comes to a criminal investments just €22,000 from initial organisation. defunct Continental as it emerges that Wealth Management of more than ₤800,000 (CWM) in the two ens of victims left destitute and doz- The complaints concern years’ before its bungled house (approx €900,000). high-profile collapse less by the Denia-based firm penni- transactions, unpaid left hundreds of investors loans and failed Davison was diagnosed with depresare suing Smart and her former sion just weeks after an estimated partner Darren pension investments that lost the claim€20million out of ants over €1million pocket, it can be re- Kirby. turning to alcohol the collapse, before between them. vealed. In the first case ing type-2 diabetes, abuse and developto reach the courts, One of the victims, Mark Davison, A total of €999,435 according to a video tragically died, aged 59, in July this year shot just before his death. to her fashion label was paid Jody Bell His body, covered SL and property holding with lesions and sores, had lain undiscovered pany Mercurio Conpro coma week in the mid-summer for up to tween 2015 and 2017, SL beheat at his home in Sanet. ing to bank statementsaccordIn documents “Mark died as a result shown to the Olive Press. Press, CWM wasseen by the Olive done to him,” Timothyof what had been Brit Jody, 43, was commission for paid €3,391,873 of Benjamin, a low claimant, told selling insurance a €144,000 salary also paid bonds and investments the Olive Press. fel“By the end he didn’t telling a court that - despite by two Cyprus-based financial want the daylight she ‘did not to appear.” firms, between know what it meant October 2015 and Benjamin, 67, likewise to be a sole director of company’ A January 2019 September 2017. felt ‘ashamed’ after he lost his €250,000 and was only involved Spain’s financial statement from private penin ‘marketsion, reinvested by regulator revealed ing and PR’. insurance bonds CWM into ‘risky’ investments, via QROPS. In a series of shocking breach of the law. were sold in In his official testimony declarations given What is certain he told the to Denia’s court how he had transferred Court of Instruction funded a ‘lavish is that this money ₤325,000 (€375,000 approx) No.3 it lifestyle’ for has emerged that players Kirby sale to CWM on the from a property and Smart, whoits key ny could ill afford the compain a relationship were to pay these investing it in a villa basis the firm was to March 2017, together from 2011 But court papers in Monte Pego. staff members. according to former revealed ₤200,000 went directly to the bank account of

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April 11th

April 2019

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

ROCK STEADY

T

HE average property two consecutive price The national years for in Spain has grown the first time average house for Along the3.9% to 8.4%, according Prices rise price rose in a decade. Mediterranean from most foreigners to for two consecutive coasts andvarious sources. between while mortgage buy, the average cording to on Tinsa, Spain’s price hike the islands, where But the figures values continueyears, leading property has been However, have during the 4.06%, ac- Balearic Islands. he added to grow Spanish long six mostly not yet made appraisal company. “Prices have year recession, property ‘at the very least, up Mortgage continued the data with the for the big drops but nothing been rising most exception like years since January lending to home to grow last year.’suggests that of the enough to claw they did in the the the recovery boom Spanish to 19,390 new loans,buyers meanwhile respected back Notaries. analyst Markthe ground lostyears, and nowherebegan, The according was up 6.1% average in the bust,” to the Association Stucklin, near in of Spanish explained an increase ofnew loan made in of Property January had 0.9% in a residential Insight. year. As a value of the last fewacquisitions continues long as mortgage €135,616, years, the to increase, lending for Spanish property as market is it has done for set to grow.

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SPAIN’S PP cious plans party has set out for a audaback control power grab to take from Valencia and the a u t o n o mother ous regions. Leader Casado Pablo announced commitment his strengthen to the central government’s to the national role in the run up He insisted elections in a fortnight. that such prevent corruption a move in taxes. and lead to would a drop It comes as off the threatthe party attempts EXCLUSIVE By Joshua Party, whose from an insurgentto see Parfitt Voted autonomous leader has described Vox REuse expat REduce cer of Spain’. parliaments as the the THE beleaguered paper REcycle in Spain ‘can- wealth Under the Govt in managementboss of a failed plan, the PP Voted exile se resources allegedly wants to increaexpat lost expats company which paper delegations for regional government million has REuse more than in Spain REduce ignored a €20 transfer of and paralyse any REcycle court. summons power to the further to Darren Kirby, Confusion regions. reigns of Alicante-based Continental Supremacy (CWM), failedWealth Management Casado insisted court on March to turn up at Denia the move 26. Spain being According administered would see was to Olive Press Who’s tively’. paying us? ‘more effecdue to turn sources he up, alongside The election business partners, former party would hopeful stated The case involves who did turn that his up. view of how carry out a sweeping a trio who the regional re- moneylost substantial of investors, operate looking amounts Should at ‘efficiencyauthorities 2017. when the company of ty.’ have Three Lions and equipub folded in legged it Spain’s quasi-federal Kirby allegedly of ‘autonomous fled to Three Lions llowing the political system HOW WE pub collapse, Australia fothe constitution states’ was added TOLD IT: ning to Alicante finally returOur 2017 in 1978. Prime to “Darren ter Pedro Sanchez, last year. England.” reports the constitution, whose party Minis- which he has been sent The Olive a Burofax drafted didn’t sign Press exclusively plan, insisting strongly opposed will now have for, how former member the PSOE revealed the ways,” to pursue so the court losingCWM abruptly ‘tooth and would defend of staff. folded “It was him in other a source said. nail’ the principal hundreds nal self-government. “A judge of expats’ in 2017, day theya prestigious place vings in the of regiolife sabut one it’s under is dealing with this The firm, process. said, askingjust shut the door,” legal review,” which was and Marriott not to be “We understand she based out Victims he added. of the asked had raised named. he is currently to ten’ Hotel, in Denia, fears about in ttered telesales staff and had ‘eight tions to sign blank dealing being around Europe, clients scaand their pensions instrucvested revealed NO SHOW: a large in high-risk assets being incommissions. which paid Darren Kirby One pensioner res. “It is based on ta Blanca wherever, a blank cheque to the told the invest lost €210,000 Olive PressCos- “It is verywhenever. he investing worrying after transferring €470,000 as they were despite stating clients’ money low to medium risky he “I was asked, risk attitude. had a fundsinvestments as well in highly just because as dubious ‘Can you blank form. gher commissions.” they paid sign the hils.’ I did that We will fill in the this He added detaiin my best trusting they would investors that losses sustained interests,” act verable should however, “They should by he said. as the investments be recofor me and have been looking led to perform, that faiout linked their own they were just feathering or went bust, to what they nests. To me they When thelife insurance policies.were were doing.” knew Olive Press Lawyer Antonio hold of Kirby Flores, whose Lawbird in Octoberfinally got denied all See pages firm my responsibility. 2017, he 26-29 of victims,is representing a world,” he “I have lost said. ment sheetssaid signing blanknumber investwas ‘very “This negates worrying’. Are you the very financial advisory member? a victim or essence Tel. (+34) 96 services,”said of the case? Do you knowformer staff 649 18 29 info@hispaniahomes.es Flo- newsdesk@theolivepress.es Contact the more about Olive Press www.hispaniahomes.co.uk at

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A BRITISH tourist has been stabbed, robbed and hospitalised by three minors who recorded the attack on their phones. The trio were cuffed by police in Sant Vicent de Raspeig, near Alicante, after their victim suffered a collapsed lung and had to undergo emergency surgery. A statement said the group stabbed the victim in the back with a pen-knife, whilst recording the attack on their mobile phones. The unnamed holidaymaker was taking a morning stroll when he sensed he was being followed, so returned home as a precaution. The gang caught up with him and a struggle ensued, where he was attacked and robbed of his wallet and mobile. A passerby stopped to help, calling an ambulance straight away. The man suffered a collapsed lung and immediately went into surgery. CCTV quickly established the identity of the attackers, two of which were already known to police. Matching clothing and the weapon used in the attack were found in subsequent

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DEFENDANTS in a ‘landmark’ case against a British-run financial firm have denied all knowledge of a scam that lost €35 million of its clients pension investment. Instead they blamed the boss of Continental Wealth Management (CWM) Darren Kirby (above) for destroying the hopes and dreams of 750 expats around Spain. In a tense hearing at Denia Court three former employees denied they knowingly put their clients funds into ‘high risk’ investments. The trio, Anthony Downs, Neil Hathaway and Dean Stogsdill, are accused of fraud, disloyal administration and falsifying commercial documents.

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situation to the CWM As for here losses helphe on‘didn’t go out EXCLUSIVE in he insisted grilled over his involvement Costa and addBy Jon Clarke anybody’ Manto scamthe the Continental Wealth took Blanca lost ‘a lot of monhe had of luxury with sports ed as well, but declined to agement (CWM) scandal, ey’ appear- lived lives umbrage to his name March cars, exotic foreign holidays say howstories Contact them with any much. or news on 951 273 575 or email ing in an article in our and designer clothes. a fash- Denia newsdesk@theolivecourt is set to conpress.es launched 5 edition. into how 750 In declarations Hathaway, the Director Jody tinue its probe contacts with at made in February, He insisted he had takenwith ion label and twice flew to New victims (Personal 6) millions, loston page other former week, according papers as he ‘was angry’ entire pen- along with two Downs LIVE their least 17Olosing Denial’, York fashion colleagues Anthony claimed the story headed ‘In his col- to official court documents. PRESS Shame Press tracked sion pots. Black- and Dean Stogsdill, about how he and was of When the Olive his These include former their former boss Kirby leagues scammed hundreds Hathaway down to pool bus driver Les Hutchings, the frauds. investors out of an estimated multi-million euro mansion 67, who lost nearly his entire responsible for he investigator Angela Javea Pensions pension hills above €35 million. by Jody in the deny the theft, with €117,000 private high-risk Brooks told the Olive Press the The company, owned is couldn’t when it ended up in knowl- case would set a major ‘preceSmart and Darren Kirby, his SUV parked in the drive. portfolios without his dent’ across Europe. accused of fraud and falsifying “But it was a lot less papers edge. that it’s takcommercial documents. taking than the police claimed,” he Another is widow Karen O’Ha- “It’s a disgrace Spain is now en a Spanish lawyer in Vol. The1 Olive IssuePress 16 www.theolivep who lost €72,000 of her and a Spanish criminal judge British insisted. just very angry, as gan, pension. legal action against the was a ress.es October “I was angry, 24th - November the wickedness from RBS 6thwas financial advisor, who which you printed documents 2019 CWM staff that to recognise by told parties all by She was of actions taken shareholder of CWM, the court,” he added. scale of this transferring the money was based at Javea’s upmarket “My wife was approached at the only way to protect it for concerned. The courts sit up just protecting my if she case has made the Marriott Hotel. every- work. I was with everything her two young children and take notice.” along While many victims lost name away. passed added. thing and, at least one commitbosses else,” he ted suicide, the CWM EXCLUSIVE

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PAPER THIN: Hathaway

GOTCHA: crooked A KEY associate of a Financier wealth management company stealing has been accused of Olive banged hundreds of copies of the docuPress newspaper, court to rights ments have confirmed. wealthy Police have grilled the of up stealing moneyman over the theft tel: 966 46to38 bundles of the paper in 2045 Olive Press the Javea area. after witnesses spotnewspaper to Ittedcomes Neil Hathaway jumping lifting out of a black SUV and stands cover up his entire bundles from our accomplice. links to fraud along with anwho had been Hathaway, trial WWW.JAVEABLINDS.COM FREE

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IT’S impossible to be ‘fat and fit’ and even if you are slightly overweight you are unhealthy, a new study found. Researchers in Spain found the risk of heart attacks and strokes rockets as BMI increases. And while they agree that exercise does reduce the risk of some illnesses like diabetes and hypertension, those who were active and obese were twice as likely to have high cholesterol than inactive people of a normal weight. The findings challenge the long-held ‘obesity paradox’ belief that it’s possible to be fat and not at an increased risk of death from heart disease. The study of over 520,000 Spanish adults by the European University, in Madrid, revealed that overweight people were actually four times more likely to have diabetes... and five times more likely to have high blood pressure. “One cannot be fat but healthy,” said lead researcher Dr Alejandro Lucia. “This study shows that being regularly active is not likely to eliminate the detrimental health effects of excess body fat. “Our findings refute the notion that a physically active lifestyle can completely negate the deleterious effects of obesity.” The team found that while exercise undeniably had positive effects, participants that were overweight or obese were undeniably more at risk of developing major health problems. “More activity is better, so walking 30 minutes per day is better than walking 15 minutes a day,” Dr Lucia said. “But exercise does not seem to compensate for the negative effects of excess weight.”

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me they knew what they were doing.” He added: “I rying’. believe some the investments of “This negates were made without my knowledge. of the service the very essence I think that is the case they are meant offer,” said Flores. to recall signing because I do not cheque to invest“It is a blank investments I sheets for all the wherever, had.” whenever. An email, seen has gone down “If standard by the Olive Press, shows CWM by half and I need compensation very worrying. practice, this is asking a client to sign and to get it back on track. “Signing blank return a blank dealing instruction. documents “But some people Another British would be seen have is trying to expat, 55, who thing lost everyas irregular in €200,000, saidrecover around have and don’t court of law. Thea some pensionenough ers ‘have lost everything’. problem live on. One to with “My paper work rethese firms is that tired has been altered, that I sent has victim only they were all PENSION vesting in€50,000 left my risk level was changed in highly from €480,000.” OUTRAGE risky ‘high’ and myfrom ‘medium’ to Andalucia-based investments dealing instructions have been without the lawyer Antonio photocopied repeatedly for ents knowing.”cliFlores, buying and sellwhose ing assets I didn’t He claimed that firm authorise,” Lawbird he said. losses sustained are represent“I still have by investors ing some CWM and I am still some money left would hopefully victims, young enough get compensation, be to vestmentsaid signing blank inas the investments recoverable but my fund sheets was ‘very that failed worto perform, or went bust, were linked to life insurance policies. Pension trustees Momentum and Trafalgar ing to recoupare now attemptSPECIALIZING IN: CMW clients’ losses. The Olive Press CRIMINAL LAW has so far been unable to discover if CWM was registered to CIVIL LAW provide investment advice with BANKING (FLOOR Spain’s official financial regulator CLAUSE) CNMV. REuse REduce REcycle

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CATALUNYA’S leader has vowedbeleaguered to fight on from abroad. It came after mont handed Carles PuigdeBelgian police himself in to when a European arrest warrant was sued. isHe and four other politicians are accused on charges of rebellion, sedition, misuse of public funds, and breach of disobedience trust. A judge in Belgium now has up to two weeks EXCLUSIVE they will extraditeto decide if By Joe Duggan the group to Spain. BRITISH expats who lost up to €20 million Fight sion advisory in a failed pensignatures mayfirm believe their Given the whole tocopied onto have been phoextradition investment docuprocess can ments. take up to days, it means 60 Around he may have 300 Brits, most to run his living in Spain, are battling campaign forentire election their to retrieve funds after the Catalan European Democratic firm ContinentalAlicante-based Party from Belgium. agement (CWM) Wealth ManHis party wants folded in September, for continued him to fight Olive as first reported in the the regional leadership of Boss Press a month ago. the December parliament in tralia Darren Kirby left for Ausfollowing Puigdemont 21 elections. the company’s the closure of denied he had fled to Brussels main Javea offices. to avoid justice but that Victims, the Spanish he left because Spain, who are spread across government preparing a ‘wave was lorca, as well as in Ibiza, MalPortugal, France of oppression and violence’ Turkey, fear and against illegal practices separatists. after being asked “I’m absolutely to sign blank dealing instructions. convinced that the state Their pension a harsh wave was preparing invested pots were in high-risk then for which we of repression which assets would have all promised been held responsible,” commissions. to pay out large said yesterday. he One 69-year-old “The Spanish pensioner told the Olive mitting a brutalstate is com- €210,000 Press he lost if we don’t battlerepression… €470,000 after transferring repression despite stating together, the had he may win this Spanish state to a ‘low to medium aversion BOSS: Kirby risk’ attitude now in In a show of fight.” Australia “I was asked, to investment. support to the ‘Can you sign deposed president, blank form. We this around 200 Catalan will fill in the he said. details.’ Untitled-1.pdf “They should have that trusting they dence mayors pro-indepen- would I did 1 16/06/2017 been looking travelled to act in my best 15:36 Brussels on Tuesday interests,” out for me but feathering their they were just to stage a rally. own nests. To

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

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Expats millionslose

whose by hasboss Darren Kir- It is believed moved now allegedly 300 of to Australia. at least One CWM’s Costa-del-Sol- clients have based 900 pension had their Olive expat told pots Press the mated, with deci£59,000 he sunk shocked victims CWM, to later through cover the value had lostonly realising dis- to end £39,000 he investments of their ain on up back in his benefits.” Britwhen meted dramatically. had plum“I have sent apension trustees However, statement. nothing praise “I couldn’t close to for Tony a source [Trafalgar but have lost believe Barnett the case thousandsit. I sisted: ‘There MD] pounds,” in- Stewart Davies and are still revealed of many customers mentum victim, [Mothe are happy asking tive]. Theychef execumain anonymous. to re- pension with who “The adviser portfolio.’ their magnificent have been A ing to ing me, in trykept tell- taxn d a l u c i a specialist b a s e d money.”recoup people’s teed, it ‘This is guaranBrooks, can’t go certain a leadingAngie The Olive below a pert of them level’.” ing many obliterat- transferred Untitled-1.pdf derstands Press His money, erationon pension ex- possible had others unBrits’ life heartbroken vate it is 1 16/06/2017 schemes libUK their pri- France, savings. acrossand that of the founder legal highly through15:36 pensions and may be Spain action the company, high-risk was put and aLife, has nowof Pension parties taken by some against fight to into launched investor ‘professional help get CWM, tims’ money has been only’ assets, back. vicclaimed. it She is working side pension alongTrafalgar trustees International and sions.Momentum Pen- based out “People of headquarare terribly ters in Alicante, distressed,” executives. and its based Brooks Granada- Both the Olive Press. told and the office in Javea lost large “They the recently website amountshave When their have shut. of ings.” retirement the Olive sav- spoke to Press She added: boss Kirby ‘definitively’ these people “Some he of responsibility denied are going crash. over world,” “I have lost the my A closehe said. associate Kirby’s Find out told of Press more on formerthe Olive staff page XX 20 set’. were all ‘veryCWM up“It is still quite Ave de Gabriel for them, Roca 4, Palma working and they raw next,” he out what to are do said.

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PENSION OUTRAGE

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

in CONFUSION life savings reigns over should foot through who hotels hit the bill for Mallorca failed by the collapse line Monarch. investment of airBalearic scheme €10millionhotels are facing a lapse that bill over the colrepatriationsaw the emergency EXCLUSIVE of over back to By Joe 110,000 Duggan Palma. the UK, many from HUNDREDS Administrator Olive Press KPMG ish ‘the debt told the to expats are of BritMonarch retrieve battling to hoteliers owed by as an unsecured sions after their will rank the defunct penclaim’ against losing up £20 million “They will airline. to pension in a failed the joint have to file a scheme. investment the moneyadministratorsclaim to OFF TO Spanish-based for all they are OZ: a spokesman. owed,” said and (above) Boss Kirby cial advisory “It has finanteam at tinental firm Con- March charity (yet) hownot been determined agement Wealth Manbash available much money to creditors.” will be last (CWM) folded Many month

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NOTORIOUS: Disgraced businesswoman Jody Smart accused in financial scandal

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