Browse Tag

Ali Farhoud

Viking Real Estate and Nordic Consulting

Over the past few months Inside Timeshare has been highlighting Viking Real Estate and Nordic Consulting, with many readers informing us of their contact with these two companies. As we already know Viking Real Estate is run by Mike Farhoud and Nordic Consulting by his brother Ali Farhoud. Both companies claim to be able to get owners out of their Silverpoint contracts and claim back the purchase price.

The latest information to be supplied by one of our Scandinavian readers who has been contacted by Viking Real Estate to make a claim against Silverpoint. As part of the contract there is an indemnity to cover the legal fees of 5,000€ should the client not receive the payment at the end of the claim.

The strange fact is the amount being charged for legal fees, 5,000€ upfront with a further 5,000€ payable at the end of the case. Mr Farhoud has also issued the following “indemnity” or promise that if the client does not receive their payment at the end of the case, (Translating done with Google see the PDF for the original Swedish).

I, Mike Farhoud (Nie: X5130722C) personally guarantee that Viking Real Estates & Consultant does everything in its power to claim back € 5,000 of the invested money for XXXX

XXXX (Passport number: ____________) bill. Viking Real Estate & Consultant takes full responsibility for the whole process.

In case Viking Real Estates & Consultant does not receive a single penny from the amount we

If, in other words, you want to get 0kr back from the process, then I, Mike Farhoud, personally responsible to repay the fee in the corresponding proportion.

This guarantee is testified by both parties

This is signed by Mike Farhoud.

Not bad, you don’t get a single penny he will personally repay the fee, there is a slight catch here, what if you receive 1€? That gets him out of repaying the full amount of legal fees and there is nothing you can do about it, as the indemnity states if you get ZERO back!

It must also be pointed out that the entry for Viking Real Estate shows the object of the company is registered in the field of Restaurants and Food Stalls.

We will let you the readers decide on that one.

It has also been noticed that Viking has spent a rather large amount of money on advertising, all the trolleys at the airport in Las Palmas de Gran Canaria carry large boards advertising his company. Now we know that sort of advertising doesn’t come cheap, again we leave it to you the reader to decide whose money is being used.

Nordic Consulting, run and owned by Ali Farhoud, is no stranger to these pages, we have already highlighted their use of court sentences and especially Supreme Court ones claiming them as their own. We know for a fact the Supreme Court ones do not belong to them but another law firm. This has been verified through the case numbers and also from the names of the lawyers on the document.

They have also gone a little further, when looking at their Privacy Policy and viewing the page source it is clear that they have been “cutting & pasting” from other peoples websites. If you look at the images below you will see that it has been taken from the Canarian Legal Alliance website. Further down the contact section has also been taken from the Canarian Legal Alliance website.

Surely if this company was above board as they claim they are, why are they using another firm’s documents and also links to their website?

At the end of the day, these companies are run by the very same people who for years worked for Silverpoint and sold you the very products you purchased from them. They claim they didn’t know that what they were selling was illegal and now want more of your money with a promise of getting out of the contract and being reimbursed your purchase price.

Again we leave you the reader to decide if either of these “Companies” are to be trusted with what they say and promise?

Nordic Consulting: The Facts

Inside Timeshare has been receiving many enquiries about Nordic Consulting Canary Islands SL, CIF: B76781228, registered as a company on 17 October 2018 so it is only just been in operation for 1 year. The CEO and owner of the company is Ali Farhoud, who as we know is an ex-Silverpoint sales agent.

The nature of the enquires has been the claim made by the calling “consultant” is regarding making a legal claim to refund the purchase price through a court case against Silverpoint. In many of the enquiries, our readers have informed us the “consultant” who called is the very same person who sold the product in the first place.

During the call, the “consultant” has claimed that they, Nordic have had “victories” from the Supreme Court and the High Court. When having the copies of the court documents checked these have not been brought by Nordic. They belong to another law firm.

FACTS

  • Nordic Consulting has not won any cases in the High Court
  • Nordic Consulting has not had any judgements from the Supreme Court
  • Nordic Consulting has not paid out to any client

Also for a case to be brought before the Supreme Court also take a long time, in a recent Supreme Court ruling this was the timing:

  • First Court hearing 4 April 2015
  • High Court hearing 22 December 2016
  • Supreme Court filing 2017
  • Supreme Court ruling issued 4 October 2019

This should leave you the reader in no doubt that their claims are to be polite “exagerated”

Inside Timeshare has also been told by concerned readers the “consultant” has told them that they must first have their contract cancelled and then make a claim. The problem is that once the contract is cancelled then no claim can be made through the courts.

They also recently published a photograph of their “team” outside their new offices, these are located close to their original ones. Look carefully at the photograph, you may just see someone that sold you the product!

There are several people in the lineup who have no connection to Silverpoint and one of those is the lawyer Luis Sanchez Garcia Yanes, who is actually a very good lawyer. He has won several cases but these have been on behalf of clients for another law firm who he was previously working with.

This image has been reposted as we have been informed by our legal advisors that as this image is already published and also can be found on Google Images it is already in the public domain.

The question that you the reader should be asking yourself is should you trust a company owned and staffed by the very people who sold you the illegal product in the first place?

Inside Timeshare leaves you to make up your mind.

Viking Real Estate & Nordic Consulting

Over the past few months Inside Timeshare has been receiving many enquiries about two companies based in Tenerife and operated by names well known to Silverpoint clients. We refer to the Farhoud Brothers, along with their respective companies, Viking Real Estates & Consultants and Nordic Consulting Canary Islands. One thing that is common to all the enquiries is that the clients were originally sold their “timeshare products” by the Farhoud Brothers or ex-Silverpoint salesman who now work for them. So what are they now offering their “old clients”?

Firstly let’s look at Viking Real Estates & Consultants, this company was founded by Mike Farhoud around one year ago and is based at C.C. Palm Beach Local 19 Avda Rafael Puig LLuvina 38660 Playa de las Americas Tenerife. According to the website they have the CIF number B76689603.

Mike Farhoud

When checking company records originally, that CIF number brought up the record for a company called Tuscan Garden SL, located at a different address, but the Administrator is one Mike Farhoud. So it looked like he was using another company to operate Viking Real Estates, although recent checks do now show the record for Tuscan Garden SL has now been amended through a change of company name to Viking Real Estates & Consultant.

No problem there, but it is when you look at the sector the company is registered to operate in is where it gets interesting. According to the records, the sector of trade is Restaurants and Food Stalls, nothing to do with Real Estate or even timeshare claims.


Surely, when a company is formed and its purpose is registered in a particular sector, it should be working in that sector, not doing something which it is not registered as doing. The question is, why is the original purpose of the company still restaurants and food stalls yet not being changed to the purpose now, real estate and timeshare claims, is there something to hide?

Let us now move on to Nordic Consulting Canary Islands SL, this company was registered on 17 October 2018, so is only just under one year old. The registered administrator is Ali Farhoud, another ex-Silverpoint salesman, who is now contacting Silverpoint clients with the promise of the return of double their money and cancellation of contracts. All for products he originally sold with his brother Alex Farhoud who is one of Nordics consultants.

Ali Farhoud

One email we have received tells us the clients story, it begins in October 2017,

“when we received a letter under the door from Alex Farhoud (at that time he was working for Silverpoint), that he wanted to see us the next day”.

The purpose to sell them an apartment, or so they thought. What they had actually purchased was the “Company Participation Scheme”.

At the Silverpoint office, Alex probed the couple about their finances and told them he thought there would be no problem for them to afford the purchase. They looked at two apartments and decided on the one being refurbished.

Going back to the office with Alex, he explained all the possibilities open to them, that they would receive 4.5% interest until they were given the title deed, this could take around 3 years before it was ready. But once they received the deed the apartment would be rented out for them with a return of 47.5% of the rental income. Doesn’t sound too bad really!

The cost was over 240,000€, no cooling off period and a down payment of around 5,000€ with the balance to be paid as soon as possible. This was paid within a couple of months.

The next part of the story is where it now gets interesting, in around May 2018 Alex contacts the clients and informs them that Silverpoint was facing “financial problems” but there was a solution.

Alex Farhoud

If they paid Alex 10,000€ he would help to get their money out, they duly paid. They were also told that if Silverpoint called:

“We must not say that he (Alex) called us, but we called him”.

This couple then became very suspicious indeed, well I think most of us would with a response like that.

It must also be pointed out that the 4.5% they were to receive for 2017 due in 2018 was not forthcoming, they eventually received it at the end of 2018 after a lot of pressure on their part.

At the end of 2018, they received another call from Alex who told them:

“That they would not be getting the title deed because what they bought was (hidden?) TIMESHARE”.

But low and behold there was a great solution in the wings, Alex’s brother Ali could help them to get all their money back double plus all expenses. All they needed to do was pay over 29,000€ to Nordic Consulting, Ali’s company and all would be well.

Needless to say, the couple’s suspicions were again aroused,

“first Alex sells to us” (this “dodgy” product), “then his brother Ali will help us to get back our money”.

Well, this couple did not fall for it, they are now waiting for their court dates to be announced being represented by an experienced law firm in this field.

It must also be noted that both companies are using court documents especially the Supreme Court Rulings giving the impression that they are theirs, having seen the documents and made the relevant checks they belong to another law firm. This law firm is also the only one to have had any rulings from the Supreme Court.

This story based on email testimony is just one of around eleven received so far.

After much research in the Spanish Courts Inside Timeshare has not yet found any cases related to these companies in either the High Court or the Supreme Court. So the question is do they actually have any cases and doing what they have been promising their clients?

Do you want to know where you stand legally with any timeshare product purchased in Spain, if so use our contact page and Inside Timeshare will point you in the right direction.