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Silverpoint Vacations

Exclusive Breaking News: The Truth Behind Silverpoint Exposed (Part Five)

Welcome to another instalment of the Silverpoint Exposed saga, we are now coming very close to the conclusion of our little series or should we say our script for the next Hollywood Blockbuster!

It is a fact the immense funds that created the group of companies were primarily funded by the sales organisation of Silverpoint Vacations, formerly Resort Properties. For many years our friend Kwang Sim flew back and forth running the company as the shadow director on behalf of Bob Trotta, holding regular meetings with the legal team and accounts managers. Inside Timeshare has uncovered an enormous amount of evidence which shows that the local leaders had no idea what was happening all around them and were being used as puppets.

The Master and The Fixer
Bob Trotta and Kwang Boon Sim

During the run-up to the “big escape” of Kwang Sim, he began to very carefully and meticulously disguised his involvement, moving others who were unsuspecting into the firing line. A sign of a true coward which was also in direct conflict with his “public persona” of a “caring and religious man”. Kwang is reportedly terrified that his “flock” of Mormons will discover his double life. In fact, his life would not be out of keeping with a West End musical, in the same way, the “Book of Mormon” has on both sides of the pond. Kwang Sim’s performance as a “man of the cloth” yet hiding his real dubious behaviour would definitely be worthy of a “Tony award” the theatre equivalent of an Oscar!

Paul Pretlove

Now on to Alex Lawson, he appears to be taking Alvarez, The Limora Group and the Bank into a very dark chapter of potential conspiracy. He is slowly but surely working his way into all the companies and appointing himself as director. Although he is very careful to keep out of the Spanish companies where there are serious issues, he places himself and his co-liquidator Paul Pretlove into directorship roles where he creates his plan to instigate insolvencies, using this very fluid 42 million of debt.

This money was moved along and up the chain and has gone all around the houses to suit the group, now the same people are using the funds as justification to close companies and throw the hard-working teams within each one onto the streets.

Wherever possible, they are even attempting to avoid costly redundancy payments, all so the Trotta’s can keep even more money and ultimately, Alvarez can earn even more in fees!

It is often the case that it is the little people who will suffer and in this case, it is obviously no different. Local management is trying to fight for their rights, but this is a “David and Goliath” type of situation. All we can hope for is as in the fable, David is triumphant and the bullies are stopped. Well come on, I mean how many millions does one need to inherit in order to be Happy?

As for the Trotta family, they are extremely worried they will get caught out but hope the bank and Alvarez know what they are doing. We are not so sure!

Jennifer Trotta Campbell lives with husband Doug Campbell who as we stated previously was at one point the Groups CEO reporting directly to his father in law and Kwang Sim. He watched the creation of the complex web of companies that exists today.

He left the company in 2007, apparently no longer able to take the pressure of the group’s structure and the tyrannical leadership of Bob Trotta. He, his wife Jennifer and the sister Erin Westfall all live in Colorado, USA and enjoy fabulous wealth, all courtesy of Daddies money.

On top of that, they now intend to screw over hundreds of innocent people who helped their family create their enormous wealth. This type of greed, unfortunately, is all too common, but we do have it from very reliable sources that the authorities in Europe and the United States are watching very carefully along with legal teams building cases to strip the Trotta family of their wealth.

Ragni Trotta herself has homes in Norway and Italy, with the Trotta children owning millions in real estate in the United States. We also have it on good authority that these legal teams are dauntlessly building the cases against all of them and are extremely confident they will be stripped of this wealth in the coming period.

We will keep watching and ready to inform you the reader of any updates and developments in this story which really does read like a script for a Hollywood movie but in real life greed almost always has a way of catching up with you, ESPECIALLY when you try to screw over innocent people. As they say, “The bad guys never win in the end”!

Join us again on Monday for the sixth and final episode in this the first series of a remarkable and unbelievable story.

Are you a possible victim, do you want to know where you stand before it all goes?

Use our contact sheet and get in touch, Inside Timeshare will be happy to give you the best advice possible and point you in the right direction.

Update: Silverpoint, Nordic Consulting and the Farhouds

So here we are again, with more information supplied by our readers on the link between Silverpoint Vacations and the Farhoud Brothers, today we highlight a case a client who purchased and “apartment” via the “Company Participation Scheme” from the Silverpoint salesman, Alex Farhoud.

As we know he no longer works for Silverpoint but is a consultant for his brother’s company Nordic Consulting Canary Islands SL, who are now making more money from the very people they sold the scheme to in the first place, this time through dubious legal action against their former employer Silverpoint.

It all began with a visit to Tenerife in 2017 and a subsequent invitation for a return visit with discounted air fares and two week stay at Beverly Hills Club. The only “condition” was they would have to attend an “information” meeting with Silverpoint.

Once they arrived they were contacted by the Silverpoint representative Alex Farhoud. They attended the arranged meeting and were greeted by the friendly Alex. He began in the time honoured timeshare “warm up”, enquiring into their health, how they are enjoying their stay and giving information on the variety of restaurants, trips and attraction that Tenerife had to offer. All designed to put them at ease.

Alex Farhoud

Eventually the conversation switched to a proposal which would be of great interest and benefit to the client, namely how they could purchase an apartment at Beverly Hills Club well below the market value, this equated to about 60% less.

He went on to explain that they would be able to use the apartment for up to half of the year and for the rest rent it out for a considerable income. Although they would have to wait a few years they would receive “compensation” of 4.5% of the the purchase price, around 155,000€

Alex Farhoud explained the business structure with the aid of the tried and trusted “pencil pitch”, (of which Inside Timeshare has a copy).  It shows the workings of the 4.5%, which would equate to 6,975€ which they would receive in the first year as compensation of forthcoming rental income.

This forthcoming rental, was also shown on the hand written “pitch” and showed the proposed income of 21,623.51€, although the amount was actually shown in Swedish Kroner. There would also be a 19% tax deducted from the amount to be paid to the Spanish Tax Authority. This note does have Alex Farhouds name on it.

For the purchase to go ahead a deposit of 5,000€ was payable at that time with the balance of 150,000€ within the next couple of months.

As they had received so much information it was proposed that they would return the following day after looking over the paperwork.

They obviously had many questions they wanted answers to.

According to the paperwork, they would not receive “title” to the property until all the “timeshares” had been freed from their owners, a process that would take approximately 3 years. The paperwork also stated that they were not purchasing “timeshare”.

Moving on to 2018 early 2018, Alex Farhoud makes contact with an important announcement, problems had arisen with the lease. He also announce that he had parted company with Silverpoint, but did not elaborate if he resigned or was dismissed. Now that he was an independent agent he would be able to restore the original terms of the Rental Program Agreement, but this would entail a payment of 2 x 5,000€, paid in two instalments.

It would also appear other “buyers” had received similar information.

Nordic Consulting Canary Islands SL

Step in Nordic Consulting, as we have stated the CEO is Ali Farhoud, Alex Farhoud is the consultant. They announced they had “found illegalities” in the agreements, that what they had purchased was “timeshare”, which as we know is subject to some very strict laws in Spain.

Ali Farhoud

Nordic Consulting explained they had already taken several cases to court where the contracts were cancelled with the client receiving back full payment. They proposed that they would take on the case and help this purchaser. The cost would be over 30,000€ to be paid to Nordic Consulting.

So now we have the very people who sold the scheme in the beginning, making what must have been large amounts of money in “commissions”, contacting the very people they sold it to, claiming they had no idea it was “illegal” at the time. Now making more money from the very same people!

From information received, several formal criminal denuncias have been made against them, with apparently more in process of being filed.

We don’t know about you, but it does appear to us that something is very wrong that these brothers who sold the timeshare and the participations scheme on behalf of Silverpoint for many years are able to operate in this way.

Have you been sold Timeshare with the promise of resale and rental, the Company Participation Scheme or the Overseas Lodging Participation Programme, including by those named here?

If so, use our contact page, let us know what you have purchased, Inside Timeshare will get back to you with information on where you stand and what is open to you on the legal front. Whether you are from the UK, Scandinavia, or any other European country, we can point you in the best direction.

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, 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 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.

My Thoughts Today End of June

So here we are the end of another month and half way through the year, and what a month it´s been. More rulings from the Supreme Court, more clients awarded substantial amounts and even more cases in the pipeline.

 

The article published 13 June 2016, regarding maintenance arrears and debt collectors has had a great response. Lots of support for the plight of Mrs B, including some personal messages from some legal eagles on how to help her, for that Inside Timeshare is grateful.

 

So far there has been no contact from Network Credit Services, even though they gave her a final notice to pay up within 7 days. Since then she has had her phone connected to BT Call Guardian, so she can block any unwanted calls. Having spoken with her today she is in good spirits especially after giving her the news of support coming in from many different quarters.

debt collectors

On the point of timeshare companies actually going to court for maintenance arrears, Inside Timeshare has been advised from a reliable source that one company has indeed done so. The owner actually had court officials knocking on his door to enforce the order to pay Anfi the arrears. We are waiting for written confirmation of this. Again are these companies by-passing the Spanish legal system to enforce payments, due to the fact that under Spanish law those contracts are illegal and unenforceable? Is it a case that the courts in the UK need to get a grip and realise what is going on?

 

There is still no news from the courts regarding the RCI Action, being brought by Edwin Coe LLP. As stated before the wheels of the law do move at a rather slow pace, but when we find out we will let you know.

 

On 14 June 2016, the spoof article on the new member to the blog writers trade association was published, it was fun to write and certainly made people laugh. But underlying the article was a very important point, this has been borne out by some of the comments received. It was very surprising to find how many people actually agreed with it. Yes it was scathing, but that was point. A trade body set up to regulate an industry should do just that, not allow its members to do as they wish and ignore the laws that are in place to protect the consumer.

 

The TCA also published an article about Silverpoint Vacations (an RDO member), losing at the courts in Tenerife. The full translation of the document shows the case was another to do with the perpetuity contract being illegal. In their article the TCA do state which company brought the case on behalf of the client. But it does show the courts are finding on behalf of the consumer.

 

Also this month we have highlighted a company which is stating they can claim against the timeshare companies. From the many enquiries received and the information given by those who have attended meetings, our first impressions have been found correct. Again this goes to show that in-depth research is required in order to safeguard yourself.

on holiday 2

The summer holiday season is also now upon us, for those travelling to Europe, the only advice is beware the ticket touts. Remember if you do decide to purchase anything such as timeshare or one of the numerous holiday clubs, it is illegal to take any payments within the 14 DAY COOLING OFF PERIOD. Do your due diligence, if it sounds too good to be true, alarm bells should ring. If you are unsure, then don’t sign. Happy holidays.