Spanish Media fail to report on SICAV - the SPANISH lies about their own corruption!

Spanish Media fail to report on SICAV - the SPANISH lies about their own corruption.

 How true is the saying people in glass houses should never throw stones.Below is some recent information posted on our group and which is vital for people to know.

Spain has really take on a tough stance to put Gibraltar in the worlds attention but not with truths but rather lies! So we need to ensure we get the truth out.

Today there are 2 hour queues to get into Gibraltar. This is not good and is detrimental to us and our economy and for all workers who live in Spain but work in Gibraltar.

What is not good is the fact that this country called SPAIN who is in EU and in NATO also wants to host the Olympics - this is a very scary thing as if they treat their neighbours like this what will they do to other nations? Remember that recently they have come out with telling their Guardia Civil to treat coloured people differently!

We need more people to write blogs with true facts to answer all bad publicity.

One bit of news and two opinions columns from the Area Campo news website.This is the news bit Guardia Civil ask for more protection at the frontier following yesterday's incident in which allegations were made that one of their own was run over by a motor cycle.http://www.campodegibraltar.es/2013/09/05/la-guardia-civil-solicitara-mas-proteccion-en-la-frontera-con-gibraltar/ And these are the 2 links to the 2 opinion columns .http://www.campodegibraltar.es/2013/09/04/firmeza-espanola-en-gibraltar/ http://www.campodegibraltar.es/2013/09/04/un-monton-con-mas-de-lo-mismo/ 

Ex Pats couple living in Fuengirola with general comments about Gibraltar and on the problems affecting them and their friends after visiting Gibraltar published in the Huddersfield Daily Recorder.http://www.examiner.co.uk/lifestyle/ex-pats-gibraltar-gets-hot-bothered-5833278 

Columbian official press agency quoting Sky News website with comments attributed to the Chief Minister. http://www.novacolombia.com/nota.asp?n=2013_9_5&id=20416&id_tiponota=8 

Tobacco smuggling is a worldwide not just Gibraltar - SPAIN too
Speaks for itself
http://es.noticias.yahoo.com/intervienen-melilla-10-000-cajetillas-tabaco-contrabando-220755760.html

Intervenidas más de 1.200 cajetillas de tabaco de contrabando en Ronda - http://www.europapress.es/andalucia/malaga-00356/noticia-intervenidas-mas-1200-cajetillas-tabaco-contrabando-ronda-20130904121733.html

  Turkish Press comments on the spanish Madrid Olympic bid annoy the spanish press.Not used to getting a dose of their own medicine I suppose. http://vozpopuli.com/actualidad/30997-la-prensa-turca-barre-para-casa-la-gente-no-quiere-jj-oo-en-madrid-sino-los-especuladores

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MEET SICAV !
Whilst Spain continues to label GIBRALTAR a Tax Haven, and has called for our financial activities to be investigated by every financial regulator in the World, I want you all to meet and welcome a new Spanish friend, his name is SICAV!
Who is SICAV?

-SICAV stands for (Sociedades de Inversion Colectiva de Capital variable). To you and me, SICAV is something we could understand as a PLC – a Public Limited Company.
What is the purpose of SICAV?

-SICAV is essentially a public limited company whose object is to ‘invest in financial assets’, and attracts a tax rate of just 1%,. Yes, you read right, just 1%!
SICAV’s 1% Tax compares to Spain’s corporate taxation of 30% for large enterprises and 25% for small and medium size firms. And a 25-30% rate on the incomes of most Spaniards.
Is SICAV Controlled, regulated and monitored?

-Of course it is. SICAV is monitored by the CNMV – the Comision Nacional del Mercado de Valores.
CNMV is the Spanish government agency responsible for the financial regulation of the securities markets in Spain. It is an independent agency that falls under the Ministry of Economy and Finance of Spain
How does SICAV work?

-To invest in a SICAV, a minimum capital of €2,400,000 is required. Also, a single SICAV needs 100 investors. The 100 investor rule helps to control potential abuse and prevents a single person from solely owning a SICAV.
Are there limitations to SICAV?
 
-There are. Investors will only pay 1% tax, because they cannot cash in on dividends or sell off shares. In effect, this means that their cash is held in a “financial limbo” of sorts.
So, SICAV is sort of alright then?
 
-Well, it is in other European jurisdictions which operate their own SICAV schemes. With Spanish SICAV, I would emphasise the Spanishness in its identity!
-Regulation, Monitoring and Control
SICAV is regulated by the CNMV as outlined above. Haven’t you wondered why Spanish HACIENDA hasn’t been mentioned thus far?
In 2004 HACIENDA investigated SICAV in Spain and unhappy at their findings demanded that a large number of SICAV pay 35%.
Why did HACIENDA demand this?
 
-Well, HACIENDA found many irregularities in 98% of Spanish SICAV.
HACIENDA found for example that SICAV were using “straw investors” termed “mariachis” to make up the 100 investors rule. This meant that contrary to rules, SICAV were especially being created for the benefit of SINGLE PERSONS. They normally owned over 99% of the SICAV entity, and the remaining less than 1% would be “straw” owned by family members, “ghost investors” or persons who did not even know they were part of a SICAV. In effect, the remaining 99 other investors were really the same single investor who would get other persons to stand in as 99 others to camouflage their ownership of 100% of the SICAV. This is ILLEGAL under SICAV rules.
Further to that, capital could not be withdrawn by investors in a SICAV as withdrawing would subject those monies to the regular 35% tax rate. You didn’t expect SICAV investors to just park their money unable to use it for the rest of their lives right? SICAV investors, it was found by HACIENDA, were by-passing this rule by reducing capital and other means and in that way collecting monies from the SICAV and not paying their dues on the withdrawls.
So what did HACIENDA do?
 
-Well, Hacienda demanded that a large number of SICAV pay 35% tax and started investigating ALL SICAV.
And what happened?
 
-Well, SICAV investors, being part of Spain’s financial elite, panicked and mobilised and had a word with the Spanish political class.
And what then?
 
-In May 2005, a year after the Hacienda investigations, Spanish politicians in parliament, or congreso if you rather, decided to pass two motions.
So these Motions sorted the SICAV scandal out then?
-LOL. The proposals sought “Amnesty De Facto” status for ALL SICAV. By the way, remember “De Facto” means “whether legally recognized or not”. LOL
Also, Spanish politicians removed HACIENDA as the regulator for SICAV and their powers of investigation over them. The new Law protecting SICAV also cancelled any demands and sanctions made previously by Hacienda on any SICAV and also erased the results of the Hacienda investigations past and present. All SICAV effectively got a clean slate.
So did anybody take over as regulator for the SICAV?
-Of course! They couldn’t just be allowed to do as they please with no control. CNMV took over the role.
Phew, at least, despite grating them a clean slate and allowing them to get away scott-free, things would be closely monitored from now on, right?
-Of course. THE CMNV took over from them.
So did CMNV sort it all out then?
 
-Well, they did, for the SICAV investors that is. There was one problem however.
One of the top figures at CMNV is Carlos Arenillas.
So, who is he?
 
-Carlos Arenillas is the Vice President of the CNMV. The problem is Carlos Arenillas is also the owner of a very important SICAV in Spain. His SICAV is worth 9M EUR and he owns 99.25% of the SICAV. The remaining 0.75% are owned by another 99 investors who happen to be “straw investors” – remember them; family and friends who have most likely invested in the SICAV using the larger investors monies to start off with. And remember these “straw investors” or “Mariachis” are not allowed under SICAV rules, and are one of the main “cheats” that CNMV is tasked with investigating and sanctioning.
Oh dear, so it gets quite messy then?
 
-And messier still!
Other than a major conflict of interest for our friend Carlos here, Carlos Arenillas is husband to Mercedes Cabrera. Merche is a politician and belongs to the PSOE.
So in effect, the SICAV, with all its illegal cheats under SICAV’s own rules is being used by politicians themselves. LOL
But PSOE I suppose are currently the opposition Party in Spain, and not in government.
-That’s correct. But PP personalities have also been naughty and also have their own SICAV. A high profile one is Rosendo Naseiro, ex Financial Secretary of the PP and an important business personality in Spain.
You might remember him…think hard…..yes that’s right, Rosendo Naseiro - he is Rosendo Naseiro of the very high profile “Caso Naseiro” fame.
You don’t remember the “Caso Naseiro”?
I’ll remind you! The Caso Naseiro was the famous “caso” which involved the then President of the Spanish government Jose Maria Aznar and revolved around illegal financing of political parties in Spain…you now, the high profile one involving bribes and the likes. LOL
WOW! So it is all quite…dodgy then?
-Quite! The King’s sister, Infanta Pilar de Borbon de Borbon also has her own SICAV. It is worth an estimated 4.5M EUR and her 99 other investors include her five children. She also famously and “quietly” removed herself from the SICAV by passing it onto a businessman from Alicante. She did not pay the 35% tax payable on removal of capital from SICAV because la “pobre” thought nobody had noticed. A couple of years later, nothing has been done about it! LOL
So, who else has a SICAV in Spain then?
-Well, quite a few politicians, famous business personalities, celebs from the world of TV and film, footballers, singers, bull-fighters….in essence anyone who makes a lot of money in Spain, but no-one who earns a normal salary.
Anyone notable?
 
-Other than the ones above, another one that stands out for purely conflict of interest reasons is Santiago Herrero Leon. Santi here is the President of Andalucia’s own version of the Chamber of Commerce.
Amancio Ortega, Spain’s wealthiest man (until 2010) has SICAV too. His ex-wife, Rosalia Mera has 500M EUR invested in SICAv, and participates in the 3rd largest Spanish SICAV.
The Pino family, owners of Ferrovial – the Spanish multinational company involved in the design, construction, financing, operation (DBFO) and maintenance of transport, urban and services infrastructure, also have SICAV.
Emiliano Revilla the famous Spanish industrialist also has SICAV. You might remember him! He was the one who was kidnapped by the Basque separatist group ETA in 1988!
The leading architect of international repute Ricardo Bofill also participates in SICAV.
The Lladro family, them of the porcelain fame too.
From the world of football, Roberto Carlos, Fernando Hierro, Fernando Morientos, Ivan de la Peña and Jose Luis Nuñez.
So, quite a few people are involved and the rich get richer and the poor get poorer. At least during these hard economic times in Spain, the Church will look after the most needy.
-Well, the Church can definitely afford it. The Spanish Catholic Church also participates in SICAV – Angel Vallejo Balda a priest and also an economist responsible for the Church’s financial affairs also participates in a SICAV.
As do La Orden de la Inmaculada Concepción, who have 3,5M EUR invested in the Francat SICAV and also Las Hijas de la Caridad who invest 5.4M EUR in various SICAV. And we cannot forget Los Hermanos Hospitalarios de San Juan de Dios who control 99.99% (naughty) of more than 11M EUR invested in the SICAV Finanzas Querqus.
At least no-one that regularly accuses Gibraltar of being a tax haven is amongst SICAV investors right??
-Wrong. To the delight of many, myself included, guess who is scandal-wrapped in SICAV. TeleciRco’s very own daytime Queen, ANA ROSA QUINTANA – yep, she, the one who every morning calls Gibraltar a tax haven, a centre for money laundering and tax evasion. Ana Rosa, te cojimo frita!
Ana Rosa Quintana participates in no less than SEVENTY-ONE, yes 71 SICAV. Her participation in the different SICAV varies between 97 and 99%.
When her participation in SICAV was discovered, Ana Rosa Quintana defended herself by saying that she participates in numerous charitable organisations and also famously built schools in Africa. The latter is completely true. This was at a time when Broadcast industry people were calling Ana Rosa “Spain’s own Oprah Winfrey” after her meteoric rise from the ashes and her managing to dethrone former long-running daytime queen Maria Teresa Campos after a bloody TV war which saw their two formats go head to head. Ana Rosa took this label to the tee and when Oprah went to Africa to build schools she did same. She also launched a failed book club after Oprah did but failed and quickly converted the Book Club into a leading Woman’s magazine, but I digress…
So what have we all learnt about SICAV?

Well, we now know that after constantly accusing Gibraltar of being a Tax Haven despite our removal from all lists, Spain operates its own tax haven within Spain, which only allows the financial elite to join the Club. This whilst allowing them to make massive gains in their Capital by ignoring the very rules of the SICAV which otherwise would allow them to operate as “low Tax incentives” which also operate in other European jurisdictions with different rules- by different meaning rules which allow SICAV to be regulated and controlled.
So when Spain mentions Gibraltar and Tax Haven in the same sentence, just ask them about SICAV, the great new friend of the Gibraltarians!

****Compiled from information obtained from various sources (Notably most are Spanish language sources from Spain, notably the book "SICAV, paraíso fiscal" (Editorial Rambla)Guillermo Rocafort
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This morning on telecinco Spanish Worker calls Spain's BLUFF LIVE from the Frontier.
Spokesperson for TRABAJADORES DE GIBRALTAR telling Ana Rosa as it is.
He has said there are lies being propagated and that the truth is there is only one fishing vessel affected and that they employ illegal nets.
He has also said the border delays ARE NOT related to fishing.
Ana Rosa has tried to intimidate him.
The spokesperson have stated that fishermen are being used.
He has also said that if Gibraltar wants to do something, Gibraltar gets attacked by Spain. If a Miss World is won, border delays. If a Royal visits, same. He emphasises that La Linea is being used and that the Spanish government should debate problems through formal legal channels.
Ana Rosa has said legal channels take too long and that pressure is best as it motivates people to sit down and debate.
Telecinco collaborators have jumped in and emphasised their lies to drown the spokesperson Spanish worker who has interrupted and called his bluff.
The contributors are saying that they are Spanish, and Worker has rebutted saying Spanish TV is manipulating and spreading lies without allowing Gibraltar to defend itself in the media.
Feeling that he has exposed them they have drowned him out and contributors take over - he has however made things very clear. This man deserves Monument. He has said that if it were not for Gibraltar he would starve like so many others.
Quintana has said that this is because Gib leeches off Spain.
A contributor tries to drown the workers truths by saying those fishermen should fish in Spanish Waters because it is their right. Another has said he should moderate his comments in respect to Margallo.
The Spanish worker says the Spanish government should be the one finding solutions for the fishermen.
Another has said that people launder money in Gibraltar, and the worker mocked him by saying Barcenas.
He has ended calling for peace and saying that if Gib belongs to Spain they should challenge it in a mock tone, and Ana Rosa has said that it would be better. She cheekily says that it wouldn't be a Tax Haven and that she does not want a Tax haven in Gibraltar.
The worker has highlighted the fact that smuggling tobacco at Gib border is minimal compared to that arriving at Spanish ports and Quintana butted in saying yes like the drugs that get in there.
They cut him off and returned ti studio and mocked the poor guy saying he does not understand politics. They have continued with their own drivel and have tried to mock it all with laughs and claiming he is a poor soul who depends on Gib for his livelihood.





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Courtesy -A.Palma


REDACCION | 20131 lecturas
Estremecedoras imágenes de video: Decenas de marroquíes alentados por un senador atacan con piedras a policías españoles en la frontera de Melilla
Tamaño del texto: + (mayor) / - (menor)
Nada describe mejor la gravedad de la situación que se vive en Melilla que las imágenes espectaculares que AD ofrece hoy en exclusiva. Son imágenes del ataque que han sufrido hoy los policías españoles que prestan servicios en la frontera de Beni Enzar por parte de un grupo de marroquíes, lalentados por el senador Yahya Yahya, desde el espacio fronterizo marroquí.
Es decir, se trata de una acción violenta alentada y permitida por las autoridades marroquíes, que obvia decir no hicieron nada por aplacar ni detener a los violentos. Este nuevo ataque deja en entredicho no sólo la gestión del delegado del Gobierno en Melilla, Abdelmalik El Barkani, sino sus declaraciones laudatorias hacia la colaboración de Marruecos. Nunca los intereses españoles en Melilla habían estado en peores manos.
(Pinche aquí para ver video 1)
(Pinche aquí para ver video 2)
Populares en Libertad (PPL) ha señalado hoy que esta auténtica batalla campal “demuestra el abandono que sufren los agentes de la Policía Nacional y Guardia Civil en los puestos fronterizos de Melilla”.
Por otra parte y según ha explicado a los periodistas el delegado del Gobierno en Melilla, Abdelmalik El Barkani, el cierre comenzó a las 17.15 horas cuando unos individuos “empezaron a tirar vallas y organizar alboroto”, momento en el que los agentes del Cuerpo Nacional de Policía procedieron al cierre de las puertas del principal puesto fronterizo.
A continuación decenas de marroquíes que esperaban para pasar a Melilla “iniciaron el lanzamiento de piedras y otros objetos contundentes” contra los miembros de las Cuerpos y Fuerzas de Seguridad del Estado, tanto Policía Nacional como Guardia Civil, que controlan el puesto fronterizo.
Desde las 17.15 horas hasta las 19.45, dos horas y media, el paso tanto de vehículos como de peatones desde y hacia Melilla estuvo paralizado. El Barkani ha asegurado que no ha habido heridos entre los agentes españoles, que reforzaron la vigilancia con los miembros de Unidad de Intervención Policial (UIP) de la Policía Nacional y los del Grupo de Reserva de la Guardia Civil (GRS).
La empresa concesionaria de la limpieza pública, en ese intervalo de tiempo, limpió el puesto fronterizo de las piedras y los objetivos que se acumularon sobre el asfalto, momento en el que se reanudó la circulación con Marruecos una vez que la situación estuvo controlada.
Este gravísimo incidente se produce solo unas semanas después de que el ministro español de Exteriores, José Manuel García-Margallo, destacara la “cordial, estrecha y extraordinaria” colaboración de Marriecos con España.
También El Barkani ha elogiado en los últimos meses la “ejemplar cooperación” de Marruecos. Como se ve, España debe ser el único país del mundo que no tiene que buscar fuera a los enemigos, porque ya los tiene dentro.


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So it is hard to get the truth out with so many lies from a bigger nation with more resources than us but I kow that Truth will always prevail. So join us now to bring the truths to the open and bring a stop to the lies!

Anne-Marie Struggles