June 18, 2012 at 9:49 am #56880
Or as the author of this post says, should that be SCAM Bank?
Very interesting post regarding the role played by CAM in the financing of the doomed Trampolin Hills development in Murcia
June 20, 2012 at 9:02 pm #109768
Yes, it is an interesting thread on Eye on Spain.
With regards to CAM Bank & The Finca Parcs Action Group……………….
I first contacted Aurelio Pedros, Director of the CAM London Representative office regarding the Finca Parcs case in October 2008 after we had got no reply from our emails and telephone calls in July 2008 to the Murcia branch of CAM where our off-plan deposits were paid. In January 2009 I had a 3 hour meeting with Aurelio Pedros. He advised us that he could not deal with the case and we should send a complaint to the Alicante Head Office of CAM. This we did by way of a 100 page dossier of evidence in Feb 2009.
After 18 months of direct contact with CAM including visits to their Murcia business office and Murcia branch where our funds were paid they still denied all liability in our case. We took our complaint to the highest level in CAM – to the then President – Modesto Crespo and CEO – Roberto Lopez Abad. They replied by email to say “If you do not have a Bank Guarantee then you have no relationship with this entity”.
In October 2010 we filed our complaint with Banco de España. They acknowledged the complaint with a standard letter and to this day we have not had any further contact from the Banco de España.
I also met on 2 occasions with the Spanish Government and also with the Minister for Europe – David Lidington.
In Feb 2011 we filed our Lawsuit against CAM and Cleyton GES. On 8 June 2012 both defendants were convicted jointly and severally. The Judge described the behaviour of CAM as ‘MALPRACTICE’.
My point is that complaints to CAM Bank or the Banco de España are just formalities.
The only way to get CAM to respond is to take legal action against them. Unfortunately, it seems to be the only language they understand.
The previous Governor of the Banco de España described CAM Bank as ‘The Worst of The Worst’ (Lo Peor de Lo Peor) and called them ‘Scandalous’.
I would advise the Trampolin buyers to form a Trampolin Action Group – like we did with the Finca Parcs Action Group.
Forget the complaints to Aurelio Pedros in London – there is nothing he can do. Forget CAM in Alicante – they just fob you off and delay the process. Forget the Banco de España – they will not investigate a complaint if it is already subject to any kind of legal action. Also they have no power to force CAM to comply with anything they say. The Banco de España is the Supervisor of the Spanish Banking System – but it is not like the Financial Ombudsman in London who can actually force a financial entity to comply with any decision it may make.
My best advice to any person with a Bank Guarantee or Fradulent Mortgage issue – if your real target is CAM Bank or any other Bank for that matter, then – form an action group, gather the evidence – you will probably be able to gain more evidence from individual group members, get a good legal team to represent you and file a Lawsuit against the Bank and developer sooner rather than later.
The main thing is to focus on the course of action that will be most likely to bring about the return of your money and that of others in your development.
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