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Silverpoint

It’s Friday & We End the Week

Welcome to the end of another week with Inside Timeshare, this week began with the article A Little Known Name but Integral to Silverpoint. It is a name that has appeared over the years but was hidden in the shadows, attention was very much on others. The full story of Diana Aitchison and her involvement is only just beginning to surface.

On Tuesday we published yet another warning on the FAKE law firm from Tenerife stealing the good name and website of a rather prominent and respected lawyer from Madrid. The story of this FAKE law firm has been a regular feature over the years, highlighting the many changes of name, but, their recent use of genuine law firms names and websites has taken it to a whole new level of fraud.

The article on Wednesday was really prompted by the many emails received with questions about claims. Our readers were somewhat confused at what they were being told, one response to the article was just what we expected. One former Anfi owner was told he had a claim, it didn’t matter that he had not paid maintenance or received bills since 2006, with no contact whatsoever. He still had a case as the contract was illegal, to get a case in court it would cost £5000+ for legal fees. Our reader, we are glad to say, didn’t fall for that one.

There was no article on Thursday as it had to be shelved due to a legal settlement, all I can say is that it was mutually beneficial to both parties. Although it would be nice to publish a “good news” story, we respect the wishes for no publicity.

We now end the week with some news from the courts, yes, you have guessed it, Anfi once again takes a prominent part. But first, we begin with Silverpoint.

This is one company that is going to be in the news for quite some time, for one Norwegian client their battle with Silverpoint has moved a step closer to completion. The Court of First Instance of Arona has declared their contract null & void, which was to be expected considering the fraudulent nature of the Silverpoint products.

The Judge also ordered the client to receive 257,552€ plus legal interest and legal costs. This award included the payment of double the amounts taken illegally during the statutory cooling-off period.

Due to the liquidation process of Silverpoint, the clients lawyers will now be making legal representation to the Mercantile Court in order to secure the amount for the client. This is the first stage to becoming a “Confirmed Creditor”, now considering the amount to be repaid has been ordered by the court, I would have thought this was now just a formality.

Always in the News, for all the wrong reasons!

Moving from Tenerife to Gran Canaria, more specifically, Anfi and their constant appearances in the courts.

There was one result from the High Court this week, again it was due to another frivolous appeal by Anfi. I know this gets a bit boring, but the Judges at the High Court once again “DISMISSED” the Anfi appeal.

In their ruling they endorsed the original sentence of the Court of First Instance 100%, as we have stated before, this is all in accordance with Spanish Law and the rulings of the Supreme Court.

The client’s contract was declared null & void with the return of 54,749€ plus legal interest and legal costs.

At the Court of First Instance Number 4 of San Bartolome de Tirajana, an English client had their contract with Anfi declared null & void, along with the return of 22,055€ plus legal interest and legal costs.

Usually, we would say that we expect Anfi to appeal, but, due to recent events and the ordering of “necessary liquidation” by the Mercantile Court, we wonder if they can appeal?

Another case involving German clients was also heard at the Court of First Instance of SBT, this time Court Number 1. Again the judge in accordance with Spanish Law declared the Anfi contract null & void, also ordering the repayment of 54,749€ including interest and costs.

The same question as above also applies to this case, but the lawyers from Canarian Legal Alliance who represented the clients will be ensuring that these cases and awards are filed with the Mercantile Court

If you would like more information on any article published or just have a comment, please use our contact page or leave a comment on the appropriate article.

Have a great weekend and join us again next week.

Start the Week: A Little Known Name but Integral to Silverpoint

Welcome to the start of another week with Inside Timeshare, last week we ended with a report on yet another fraud that has come to light involving what we have dubbed The Litigious Abogados Family. This time they have used the website and name of a genuine law firm and using it for their own nefarious purposes, the genuine law firm is now well aware of the situation and has taken appropriate action. Today, however, we bring you a name that has not appeared often on our pages. It is well known among the clients of Silverpoint as this person has been an integral employee of many companies within The Limora Group for many years.

When it comes to the long drawn out story of Silverpoint and the many “fraudulent” products which they have peddled over the years, the main names to appear are always the CEO Mark Cushway, the owner of Limora Group, the late Robert “Bob” Trotta and the “Chinaman”, Kwang Boon Sim, Trotta’s financial guru. 

https://insidetimeshare.com/?s=exclusive+breaking+news

One name which has been left out is Diana Aitchison, who has had a very long association with the various companies linked with Silverpoint. Her positions have been varied and in most cases, it has been in senior management working closely with Mark Cushway.

Diana Aitchison

During all this time, Silverpoint was engaged in the sales of timeshare, a product which they completely turned on its head, from the initial “investment” packs of weeks to the culmination in deception, the “Company Participations”.

It is these “company participations” which are of most interest, as this is where Diana Aitchison’s involvement is questionable.

While with Silverpoint, which were actively promoting and selling the “Company Participation Scheme”, it was in fact Diana Aitchison who “signed off” the majority of the purchases.

To recap, this “scheme” replaced the “investment” weeks, where a “victim” purchased a series of weeks, usually 6 to 8 weeks with apartments attached. These were sold with the promise of a rental income, which would cover the maintenance fees, and after a two year period, they would be resold at a profit.

We know from all the court cases that this never happened.

The “company Participations” scheme was essentially the same product, but there was a twist. The “apartments” were registered as S.L. (Sociedad Limitada) or limited companies. The weeks were “shares” or as they call them, “participations” in this company, the same “promise” was made as with the “investment” weeks, an income from rental, and eventual “ownership” of the company, (this is the simple version, see link below for further information).

https://insidetimeshare.com/silverpoint-company-participations-is-timeshare/

Now, remember that Diana Aitchison signed off the majority of these deals, with her move from Silverpoint to Excel Resorts as Chief Operating Officer, she was now responsible for the administration of the “scheme”.

Excel is also a major part of The Limora Group, so in effect is the “sister” company to Silverpoint. Excel manages the resorts, Silverpoint sells them. So it was really a move from one branch to another.

When the “companies” are registered, the Administrators are listed as Excel Hotels & Resorts SA, Diana Joan Aitchison and the Only Partner is Silverpoint Vacations SL.

Talk about keeping it in the family.

When checking the company registration for one “company” Palm Beach Tenerife 077 SL, which was registered around 7 years ago, Diana Aitchison is listed as one of the administrators. The sector the “company” is registered in is “Real Estate or Similar”, a very large category.

It also gives a link to other companies with whom she is associated, one of these is Palm Beach Tenerife 117 SL. In this, she is the “Sole Partner” with Excel as the “Sole Administrator”. But it is also the other links that are of interest, which also brings up links with the “inactive” roles with other companies. Some of which are very familiar names indeed.

Company Record for Palm Beach Tenerife 117 SL, notice the sector.
This does bring up alarm bells, so why was she not suspicious?
The registered Address of Palm Beach Tenerife 117 SL
Positions held
Positions held now inactive
Information is publicly available using https://www.infocif.es/

Another link between Diana Aitchison, Mark Cushway and Kwang Boon Sim, is Vacation Finance Ltd, (link to Company House Register below).

https://find-and-update.company-information.service.gov.uk/company/09726642/officers

This company is linked to the Finance Agreements brokered by Silverpoint for the sales of the “investment packs” and the “company participations”. They are also linked in these finance packages with HMC Finance, and all loans went through with Barclays Partner Finance.

Now considering the length of time Diana has worked in this particular industry and given all the links that she has, it does make you wonder how she could not have known that what was going on was a fraud of epic scale, surely she must have had her suspicions?

We ask this question for one simple reason, the legal battles in the courts over the sales made by Silverpoint and formerly Resort Properties, have been going on for around 12 years. It may be longer, but it has been well known that a possible fraud was being committed and this is being borne out now in the courts.

What actually started this quick research into Diana Aitchison was information received by Inside Timeshare of her involvement with a charity, of which she has been a director since 2014.

Our informant was rather disturbed that she was involved, especially as a director given her links to one of the most investigated frauds in timeshare history, it was also the fact that a person with a link to HMC Finance was taking part in an event for the charity and is personally known to Diana.

It obviously made us think, surely with her involvement in companies which are being criminally investigated, an investigation which has taken on an international hue, her position as a director of a charity is untenable?

We leave you the reader to decide, but we know what our answer will be!

The story of Silverpoint is going to be with us for some time, as the results of the investigations become public, we are bound to find some very interesting twists to the plot. It might take a long time, but the truth will become known.

To end today’s article, we have just received information of another name of a genuine law firm that appears to have been used by our friends The Litigious Abogados Family. Further information on this will be published once the facts are established. WATCH THIS SPACE!

Translations

Danish

https://insidetimeshare-com.translate.goog/start-the-week-a-little-known-name-but-integral-to-silverpoint/?_x_tr_sl=en&_x_tr_tl=da&_x_tr_hl=en-GB&_x_tr_pto=nui

Dutch

https://insidetimeshare-com.translate.goog/start-the-week-a-little-known-name-but-integral-to-silverpoint/?_x_tr_sl=en&_x_tr_tl=nl&_x_tr_hl=en-GB&_x_tr_pto=nui

Finnish

https://insidetimeshare-com.translate.goog/start-the-week-a-little-known-name-but-integral-to-silverpoint/?_x_tr_sl=en&_x_tr_tl=fi&_x_tr_hl=en-GB&_x_tr_pto=nui

German

https://insidetimeshare-com.translate.goog/start-the-week-a-little-known-name-but-integral-to-silverpoint/?_x_tr_sl=en&_x_tr_tl=de&_x_tr_hl=en-GB&_x_tr_pto=nui

Norwegian

https://insidetimeshare-com.translate.goog/start-the-week-a-little-known-name-but-integral-to-silverpoint/?_x_tr_sl=en&_x_tr_tl=no&_x_tr_hl=en-GB&_x_tr_pto=nui

Swedish

https://insidetimeshare-com.translate.goog/start-the-week-a-little-known-name-but-integral-to-silverpoint/?_x_tr_sl=en&_x_tr_tl=sv&_x_tr_hl=en-GB&_x_tr_pto=nui

Court News and Another Twist to the Litigious Abogados Family

Welcome to a rather short Thursday article. First, we have a look at news from the courts of two cases. Both companies are very familiar to our pages, Anfi and Silverpoint. We also report on the first information regarding our old friends in Tenerife, The Litigious Abogados Family, who appear to have resurfaced, this time using the name of a genuine law firm.

Our first court report is from the High Court Number 3 of Las Palmas and once again involves Anfi.

This case was originally heard at the Court of First Instance of SBT, where the contract was declared null & void with Anfi being ordered to repay the client 22,574€ plus legal interest and legal fees.

As we have come to expect from Anfi, they once again decided it would be a “great laugh” to delay everything and lodge an appeal with the High Court. Another waste of the clients, lawyers and courts time, not to forget the legal bill for their own lawyers.

The Judges at the High Court, following all other cases and the rulings of the Supreme Court, roundly dismissed and rejected their appeal. The original sentence was confirmed and is now being filed with the Mercantile Court and the Court Appointed Administrator for the payment of the awarded funds.

In Tenerife, the Judge of the Mercantile Court Number 1, Santa Cruz de Tenerife, after examining the contracts has declared them null & void, plus awarding the client 147,420€.

As Silverpoint is now under the Mercantile Court and a Court Appointed Administrator, the client’s lawyers will now file this claim with the Mercantile Court for payment along with all the other claims against Silverpoint which have been found in favour of the clients.

One thing that is similar to both cases is that both companies used the same techniques to avoid payments, both moved money from their accounts to others so when an embargo is placed, nothing is in the accounts for the court to take. Both are being investigated by the authorities for the illegal movement of funds.

In both cases, the clients were represented by lawyers of Canarian Legal Alliance.

Along with our friends at the TCA (Timeshare Consumer Association), we are investigating another use of a genuine law firm by scammers.

So far from the documentation we have received, it appears this is yet another incarnation from our old friends The Litigious Abogados Family, with a new “Procuradores” or “Procurator”, this one is called José Vazques.

It is to this person that the “victim/client” has to pay, the account is in the name of José Motoz Vazquez, the bank is Evo Banco and the IBAN ES30 0239 0806 7526 6701 5925. Any payment being made to a named individual is always a bad sign.

In the letter sent to the “client”, it is purportedly from a law firm in Madrid called Adarga Abogados, along with all the names and bar association numbers of their lawyers.

The website for the law firm which does appear on the letter is

https://adargaabogados.es/

but, the email addresses on the letter are:

[email protected] 

[email protected]

These are free email providers such as Hotmail or Gmail, the email address for the genuine law firm is linked to their website.

Inside Timeshare and the TCA are in contact with the genuine law firm with the TCA already having established they have nothing to do with the letter or with any timeshare related claims.

We have seen these people use pictures of genuine people with fictitious names in the past, the most notable of them is the use of the late 39th President of Venezuela and the Ambassador to Argentina. But now they are using a genuine law firms name and their website!

Our inquiries are ongoing and we will have a full report once all the information has been received. In the meantime, if you receive a call, text or email using the name Adarga Abogados, please let us know.

Once again this reinforces the point that you should not accept as genuine any call or correspondence you receive, without first doing your own due diligence. If you are not sure how to go about this, please contact Inside Timeshare and we will help you determine if they are genuine or not.

Do you have a timeshare you purchased in Spain, is your contract legal under Spanish Law, if you would like further information on this and your legal rights and options, please use our contact page and Inside Timeshare will get back to you.