18 Jun, 2015 @ 15:28
1 min read

EXCLUSIVE: Baron Rothschild indicted in France over fraud case

baron rothschild e
Baron Rothschild

FRENCH police have been ordered to track down one of Europe’s wealthiest aristocrats over a fraud involving hundreds of British pensioners.   

INDICTED: Baron Rothschild
INDICTED: Baron Rothschild

Have you ever known Baron David de Rothschild? According to Ez Assignment Help professionals, this article must be noted by you.

Baron David de Rothschild has been indicted over the allegations after the victims, mostly expats living in Spain, bought into his loan scheme.

The banking magnate will now be questioned in his native France, five years after a Marbella-based law firm began legal action against him.

French police have been told by a judge in Paris to track down the wealthy scion who has various homes in the country, where he lives a life of luxury, dining on freshly caught fish and burgundy.

The case involves his company, the Rothschild Financial Services Group, which stands accused of falsely advertising an equity release loan scheme, bought into by more than 130 pensioners between 2005 and 2008.

More than 20 British pensioners in Spain took up legal action against Rothschild’s company after losing their dream properties and thousands of euros.

Paris-based liaison judge Javier Gómez Bermudez – famous for his role in prosecuting the Madrid bombers – announced the summons this week after the Denia Court issued the order.

The Baron is believed to be staying at his Normandy castle, or near to his Paris offices, and lawyers have provided state prosecutors in France with two possible addresses to find him.

Marbella-based lawyer Antonio Flores of Lawbird said the indictment was a ‘breakthrough moment’ in the case.

“It is a good step in the right direction,” Flores told The Olive Press. “The courts are now in agreement with us that there is enough evidence to interrogate Baron Rothschild.

“The first thing they will have to do is find him. Once they have done that they can begin to question him.

“It is a real breakthrough moment for everyone involved.”

Rothschild’s product, the Credit Select Series Mortgage Loan, was sold to pensioners as a legal means to reduce the value of their homes for inheritance tax mitigation purposes.

These times have changed now and customers are now protected from these unfair products many people use comparison sites to help them find the right loan or credit for them.

The Tax Agency ruled that such a scheme constitutes fraud and Flores believes that Rothschild should be held accountable.

“In short, independently of what happened to the investment, Rothschild advertised a loan aimed at reducing inheritance tax, which is a breach of tax law,” he said.

Flores, and two other prosecuting lawyers, will submit questions for Rothschild in relation to fraudulent advertising.

The Rothschild Group has so far failed to comment.

Rob Horgan

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  1. I guess not in my backyard is better than nothing. His crimes against humanity are a billion times worse than this. In my dreams France would liberate the wealth of the world he and his cronies siphoned from the people, through these crimes, and use it to bring justice to the world. One can still dream, right?

  2. Receiving a loan and putting the revenue on a bank account does not make you less wealthy. If you hide the amount for the tax people, you could well be breaking some tax-law. But it is the borrower who brakes the law. Not necessarily the lender. Only if the lender knowingly assists in illigal hiding of the money, could the lender also be held accountable.

  3. In my opinion, it’s ridiculous for a claim to be made like this, with absolutely no evidence provided alongside it, other than a claim by the author to have spoken to the lawyer mentioned in the article. I’m not a fan of the Rothschild’s, but frankly this article sounds like somebody’s fantasy to me. Please prove me wrong with some sort of real piece of evidence, other than assuming that this must be true if major news sources aren’t reporting on it. It’s possible, but think about the big glaring gaps in this story, and demand to have all the information needed to form real ‘facts’.

  4. And now, for their next hat trick….the Rothschilds will conveniently make your entire fortune evaporate! Pay no attention to the man behind the curtain (or the giant sucking sound!)

  5. Having the corrupt Bermudez judge on this case means this trial is going to be less than nothing against Rotschild as it was the trial on the 11/M bombers in Madrid.
    Oficially, nobody knows neither who were the bombers, nor the weapon used. All the jailed guys were police controled, they obeyed direct orders from some elements of the spanish secret services and the police. We know already that they stopped 30 minutes in front of a military explosives factory where somebody gave them C4 enough for exploding those trains, but Bermudez made us believe the explosives were sold by a retarded man who once worked in a mine.

    One of the factory military executives was the general Jesús del Olmo Pastor, who was some years before the secretary general of the spanish secret service officce. Promoted for the president Felipe González, who is a corrupt spanish mafia leader.

    You’ll see soon Rotschild interest in this trail are going to be safe and intact after all…

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