BND Levante Group Investment’s Presumably a Scam

A Spanish Investment Company based in Bendidorm, Alicante province is filing for bankruptcy. They have taken this action after the Spanish CMNV added the company to their warning list. An article was published in a Spanish newspaper suggesting deception. Add to that a ‘website under construction’ suggests that investors have reasons to be concerned.

CAB Spain has contacted a lawyer asking if this may be a case of fraud or negligence. The lawyer has advised caution saying, “With the information given, I cannot say this is fraud. The bankruptcy procedure has not yet been opened, however, this would take some time, as it is a judicial procedure. As soon as the bankruptcy judicial procedure is opened we should communicate of the creditors and follow up the procedure.
As we obtain more information, we can see whether there has been some kind of fraud and initiate the civil or criminal actions that may correspond”.

The post has been updated after one of CAB lawyers has investigated the company and the presumption is that this is a scam setup.

Anyone who thinks they may be affected should contact Myra via www.citizensadvice.org.es/

Email:  myra@citizensadvice.org.es

Please note: The information provided is based upon our understanding of current legislation. It is not legal advice but is provided freely to enable you to be properly informed. We recommend that if you are considering taking action, you should seek professional advice.