THE mayor of Marbella is suing a well known lawyer over claims that she improperly declared her investments abroad.

Maria Angeles is suing Antonio Flores, of Lawbird, after he spoke to the press regarding her alleged failure to declare that she and her expat husband Lars Broberg took out a €3.1 million equity release mortgage with Swiss bank Nordea in 2010.

Munoz has accused the brief of ‘professional misconduct’, claiming he was the main source in recent media reports concerning her allegedly undeclared assets.

As well as investments in Luxembourg, Munoz and Swede Broberg allegedly bought a 98% share in Gibraltarian company Crasel Limited, in 2003.

The town hall has reported the lawyer, who has a column with the Olive Press, to the Law Society, meaning the case will not go to court.

Spokesman for the town hall, Felix Romero claimed Flores ‘went against professional ethics by giving insulting statements to the press, and distributing them across the internet’.

Flores insisted: “I have not been disrespectful towards her. I only said that she had either deliberately not declared her investments, or that she was a victim of the bank, like many others. I never made any indication which.”

Concerns were first raised about Munoz’s foreign dealings by a group established by Antonio Flores, called the Equity Release Victims Association (ERVA), made up of expats who have lost millions of euros through the bank.

The lawyer has filed a complaint with the Tax Office on behalf of ERVA’s members, affected by investments with Nordea Bank.

Mr Flores will give a press conference on Thursday to discuss the allegations made against him.

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  1. There is no plot. All Antonio Flores has done is report on the evidence that has been found in the public records, everyone has access to these. The concern of Erva is that the Mayoress, like a number of British ex-pats and possibly Scandinavians, have fallen victim to a fraudulent equity release scheme which purported to avoid/mitigate amongst others both Wealth & Inheritance Tax sold by Nordea Bank Luxembourg through their so called representative office in Nueava Andalucia. We feel very sorry and concerned that this should have happened. It should not be the case that Antonio Flores has been reported to the Malaga Law Society, have they also reported this to the Spanish Tax Authorities and Nordea Bank SA for selling such an obnoxious scheme in Spain??? If so then they have at least their priorities right. Do the lawyers for the Mayoress realise that Nordea Bank could be responsible for some 100 Mortgage Loans in the Malaga region alone, according to the public records. What needs to happen is that the Spanish Authorities start an immediate investigation into these schemes, sold not only by Nordea Bank, but Rothschild, Barclays, Surrenda Linked Mortgages (British Institutiona) Danske Bank Sydbank, Nycredit and other Scandinavian Banks all domiciled in Luxembourg.

  2. Erva, you seem to be concerned that the Mayoress was a victim of a fraud, but not concerned that she knowingly entered into a scheme to avoid/mitigate taxes. Therein is your contradiction. A Mayoress (of Marbella of all places) was very ill advised to enter into any such schemes.

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