Several Residents on El Trampolin “Phase 2” have contacted me with the news that CAM Bank are about to forfeit their rights under the Mortgages illegally granted on properties which were either already sold and paid for in full or with remaining small balances outstanding. Ultimately I suggest CAM Bank had / will have no option but to do in order to save themselves what would undoubtedly turn in to an International scandal! Just as I had commented several months ago ultimately this HAD to be the case since clearly the structure of these mortgages was incorrect. Add to this the fact that I imagine that CAM Bank carried out their own internal investigation and I assume were able to confirm what has been known all along … that two of their employees were involved in what amounts to a massive “scam” the repercussions of which are likely to be enormous if not for Spain and the Authorities but most certainly the region. As a result of my own ongoing litigation with Trampolin you can imagine that I have been able to obtain a great deal of information and the bottom line is that I understand that CAM are indeed going to walk away from these Mortgages … they have to! The “knock-on” effect of this is going to be that EVERYONE who has a property on El Trampolin mortgaged to CAM Bank SHOULD be able to complete now without problem. This would also open up the same possibility for me since the ONLY reason I was unable to complete on my property (Plot 82) was that there was a huge Mortgage outstanding … hence the subsequent fraudulent sale to Mr and Mrs Philips (who were also innocent victims in this scam). However, as I have virtually resolved my claim through the Spanish courts I no longer feel that I have any interest in that property. The bottom line is that I feel everyone with a property on Mortgage to CAM will now be able have the debt written off. Of course this does not apply to outstanding balances due to Trampolin.
The legal process in Spain works extremely slowly but having now obtained Judgement in the Civil Courts this does at least quantify the debt … monies paid + interest + costs! The Criminal process is now nearing completion against Rafael with the potential of other parties being “dragged in”. Rafael knows what he has to do to avoid going “behind bars” and so it is up to him!
Next point … I understand that Trampolin Hills is shortly to go into Administration … they have no money to build and HUGE debts … furthermore they have no licences. Given the current state of the Market I GUESS this will never take off even under new ownership.
The big question is … what have they done with all the money? Well, without prejudice and according to allegations that I understand are currently being investigated, Antonio has a very nice 25m Fairline Squadron moored at the Marina in San Javier … they have various apartments all over the area … Rafael has a beachfront one in Los Urrutias … the Athena Hairdressing Saloon in La Riberia and of, course, it is also alleged that they still have their “core business” - The import of stolen vehicles from Belgium and Germany which enter Spain and then are ringed for subsequent resale. The large building behind Antonio’s “matrimonial home” is supposedly where the chassis numbers and VIN plates are all altered with some of the cars being stored in their Garage disguised as a villa. I guess most of the residents are aware of this anyway … also the fact that the “stolen vehicle scam” has now developed into agricultural equipment and this is their “New Business” run by Antonio’s son across the road. My GUESS is that the move to “agricultural” equipment is on the basis that once “in a field” it will be harder to trace! Sincere Kind regards and Good Luck to you all ... Andrew Wilford
This message was last edited by Andrew Wilford on 15/10/2009.