Spanish Off-Plan Property - Bank Guarantees - LEY 57/68

This blog is for all those Off-Plan property purchasers in Spain who have not received Bank Guarantees for their deposit funds as required by Spanish Law, in particular LEY 57/68 Article 1.1 and 1.2 and are now at risk of losing their money. In addition many purchasers who did receive Bank Guarantees are now finding that the Spanish Banks are refusing to honour them without legal action being taken by the purchaser.

CORRUPT BANCO CAM
Thursday, December 8, 2011 @ 2:01 PM

CAM racked up billions of euros of debt, stole innocent purchasers Off-Plan deposits, was corrupt from top to bottom and still the ex-CEO Roberto Lopez Abad and ex-President Modesto Crespo were allowed to jump ship back in July and take with... them millions of Euros in self-awarded 'golden handshakes' and pensions.

The woman who was then promoted to CEO by the Banco de España/FROB - María Dolores Amoros was then sacked after one month for 'creative accounting'.

SHAME ON THE BANCO DE ESPAÑA - THE SUPERVISOR OF THE SPANISH BANKING SYSTEM - FOR ALLOWING THIS CORRUPTION AND FRAUD TO HAPPEN UNDER THEIR SUPERVISION.

SHAME ON THE SPANISH GOVERNMENT.

There should be a public enquiry into the corruption at Banco CAM.

We, the FINCA PARCS ACTION GROUP demand that BANCO CAM (BANCO SABADELL) are made to immediately refund the 2 million Euros they stole from our group!

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COLUN FISCHER. said:
Monday, May 7, 2012 @ 12:31 AM

I WAS COERCED INTO PLACING 40.000 EUROS INTO A 5 YEAR PLAN BY THE DIRECTOR OF C.A.M.IN ARGUINEGUIN,GRAN CANARIA.THE INTEREST SEEMED TOO HIGH AT 7.35%.HE ASSURED ME IT WAS A SOUND INVESTMENT AND WAS SOLELY FOR EXISTING CUSTOMERS WITH A MINIMUM OF 30.000 TO INVEST.HE DID NOT TELL ME THAT THESE WERE BONDS AND COULD ONLY BE RETURNED BY SELLING ON THE OPEN MARKET.HE WAS ADAMANT THAT IT WAS SECURE.I NOW HAVE BEEN DISREGARDED IN THAT NO INTEREST HAS BEEN PAID IN THIS CURRENT YEAR.THE COUNTER STAFF AND NEW DIRECTOR ASSURE ME THAT MY MONEY IS SAFE EVEN THOUGH NO FORMAL WRITTEN INFORMATION HAS BEEN FORTHCOMING.ARE YOU ABLE TO GIVE ME ANY ASSURANCES THAT I FEEL SHOULD BE SUBMITTED AND TO LET ME KNOW THAT MY MONEY IS SAFE.TH COUNTER STAFF KEEP PUTTONG ME OFF SAYING "THAT EVERYBODY IN THE SAME SITUATION AS I AM IN ARE DOING NOTHING AND JUST WAITING FOR THE BANK TO CONVERT THIS MONEY TO A FIXED DEPOSIT.ITS ONLY THEIR WORD WHICH I AM BEGINNING TO DOUBT.SINCERELY COLIN FISHER.

Keith - Bank Guarantees In Spain said:
Wednesday, May 9, 2012 @ 3:21 PM

You should contact:

PLATAFORMA CAM

Sr. Carlos Pena

info@plataformacam.com

www.plataformacam.com

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Keith - Finca Parcs Action Group
I am leading the FINCA PARCS ACTION GROUP in legal action against Cleyton GES SL and Caja de Ahorros del Mediterráneo (Banco CAM) for the return of our off plan deposit payments as we never received the legally required Bank Guarantees.