Browse Tag

Nordic Consulting Canary Islands SL

Nordic Consulting, Company Participations: More Readers Send Information as a Warning

Further to our previous articles on the Silverpoint Participations and Nordic Consulting Canary Islands SL, today we publish the experiences of one reader from Scandinavia, taken from the many enquiries received in the past two days. It explains how he was sold the these “participations” and has since been contacted by Ali Farhoud from Nordic Consulting. We have slightly changed certain details to keep the identity of our reader private.

Back in 2017, our reader attended a meeting with Silverpoint Vacations, the representative was Alex Farhoud, another brother of Ali. The scheme was explained to him and he was led to believe that he was buying a specific apartment at Beverly Hills Heights, part of the agreement was that he would receive an income from the rental of the said apartment and eventually be able to sell.

After some time, he eventually signed the contract and parted with over 150,000€, along with the purchase contract was a rental contract with Silverpoint Vacations, as we know the CEO is Mark Cushway, who is no stranger to these pages. The client left in the belief that he had a good deal.

Then in 2018, Alex Farhoud made contact, our reader was informed that the rental contract had been cancelled and new less favourable conditions had been presented. In order to fix this Alex Farhoud demanded a further 10,000€ fee. Our reader fearing the loss of his “investment” duly paid. The new rental contract was with Excel Hotels and Resorts. He received an outline of the new rental contract, which to some extent the original conditions that they had initially agreed to.

Nearly a year later he was once again contacted by Alex Farhoud, this time it was stated that the purchase contract they our reader had signed was not valid. The reason being he could not get a title for a product that was essentially made up of timeshares!

Enter Nordic Consulting and Ali Farhoud, Alex Farhoud referred our reader to this company with the proposal that Nordic Consulting would instigate legal proceedings to have the contract with Silverpoint nullified, plus claiming back what they had initially paid, but in double. Obviously there was going to be a fee for this, that was estimated at over 30,000€. Our reader has had repeated calls from both brother to pay and get the process initiated. But our reader has not done so, one reason is that he has received no explanations or clarification in writing.

Our reader has also received a letter from Mark Cushway and Silverpoint informing him that the process of obtaining title was moving on and that all units had been cleared of timeshare owners. Apparently a “certificate” confirming that all 52 weeks in the unit purchased were clear. Our reader would then be called to Tenerife to sign the title.

Our reader is now so confused, can he believe or trust Silverpoint?

Can he trust Nordic Consulting, his brothers company, especially as it was Alex Farhoud who sold him the product in the first place?

This is why our reader turned to Inside Timeshare, he had nowhere else to turn, he didn’t know who to trust. After lengthy discussions we made a recommendation and our reader is now discussing his options with a leading law firm in this field. It will be sometime before we will be able to give you an outcome, but we are sure that his problem will be resolved to his satisfaction.

Have you had dealings with Silverpoint, either the “investment weeks” or the “company participation scheme”, have you been contacted by Nordic Consulting regarding these?

Have you been contacted by JB Legal / SIM Legal and Jeroen Martijn Brussel, (See article published 28 Jan 19), along with Walker Padron Perez, with a similar story?

If so, get in touch with Inside Timeshare, let us know your experiences so that we can keep these warning going, we will also offer free and impartial advice on what options are open to you.

Consumer Warning: Update (Link added Sunday 10/02/19)

Further information has been received by Inside Timeshare regarding a previous article on the Silverpoint Company Participation Scheme and a company contacting consumers who have purchased this flawed product.

From the information received from an English client, he was sold “participations” in this scheme by none other than Ali Farhoud, this purchase was for over 440,000 Euros.

He received a call from Nordic Consulting Canary Islands SL, (Mr Farhoud’s company), the caller was, yes you guessed it, Ali Farhoud himself. In the call the client was informed by Mr Farhoud, that at the time he was selling this “product” for Silverpoint, he did not know that it was “fraudulent”, (if you can actually believe that).

Also during the call this client was told that Nordic Consulting would take his case to court and get him compensation. The cost, over 21,000 Euros, plus 25% of the awarded amount. This client felt as though he was once again being pressured into parting with huge sums of money, from the very same person who sold him the “product” in the first place.

Needless to say he didn’t fall for it on this occasion, he has decided to take legal action through a respected and experienced law firm.

Now obviously the list of clients who purchased into this “scheme” is in the possession of Nordic Consulting and Mr Farhoud, one does have to wonder how this was obtained?

It is also very obvious that the person who made large amounts of money from selling the “scheme” in the first place is now set to get what is called a “double dip”, in other words making more money out of those who were sold a defective and highly floored product in the first place.

So the warning is very clear, if you receive a call regarding taking legal action against Silverpoint (Farhouds previous employer) by Nordic Consulting, you will be lining the pockets of the one who sold it to you in the beginning.

Below is a transcript from a recorded meeting between Ali Farhoud and one of his duped clients, this was in 2013. It revolves around the “investment” weeks Silverpoint were peddling. These sales are subject to many court cases being brought in Tenerife. It must also be noted that Silverpoint were at this time members of the Trade Body the Resorts Development Organisation (RDO), with the CEO of Silverpoint Mark Cushway also being a director of this organisation.

Just from this transcript alone, Farhouds claim that he had no idea that the “participations” were fraudulent is somewhat flawed. He knew he was selling a “frudulent” product long before the “participations” came on the scene.

We leave it to you the reader to decide.

The link to the transcript since publication has been removed from the TCA website. Although it is still showing on Google search.

Have you purchased into this product and now feel that you have been defrauded?

Do you want to know who you can actually trust to get you your money back and have the contracts declared null and void?

Then use our contact page, Inside Timeshare will go through it with you and point you in the right direction and to the people who can and will do the job. In the end Inside Timeshare will give you the best advice without any obligation and free of charge.