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SHE was best friends with TV star Denise van Outen and had more shoes than notorious Filipino first lady Imelda Marcos. But the glamorous life of fashion designer Jody Smart has come to OLIVE EXCLUSIVE PRESS an abrupt end after she was found By Jon Clarke & Walter Finch guilty of fraud in Spain. Profits Smart - aka Jodie Pearson - will now and swap first-class trips to New York’s Smart told the Olive Press the losses fashion week for a Spanish jail cell frauds were ‘a consequence of loans for the next three-and-a-half years. between individuals, in An Alicante Court ruled she was which my…signature does behind part of the notorious Continot appear.’ nental Wealth Management (CWM) Her lawyer added it is ‘unswindle and must pay €370,000 to certain she will end up in GUIDE P ENSIO two victims. OUTRA N prison’ as he launches an apGE peal this week. Judge Francisco Javier Guirau also found her guilty of conning a third victim, Mark The court however, estabDavidson, out of €930,000, however tragilished that Smart was behind cally he passed away before the verdict was the fraud of one victim of reached. €300,000 under the false preCOSTA BLANCA

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CONFUSION reigns over who should foot the bill for Mallorca hotels hit by the collapse of airline Monarch. Balearic hotels are facing a €10million bill over the collapse that saw the emergency repatriation of over 110,000 back to the UK, many from Palma. Administrator KPMG told the Olive Press ‘the debt owed by Monarch to hoteliers will rank as an unsecured claim’ against the defunct airline. “They will have to file a claim to the joint administrators for all the money they are owed,” said a spokesman. “It has not been determined (yet) how much money will be available to creditors.”

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Expats lose millions in life savings through failed investment scheme EXCLUSIVE By Joe Duggan

HUNDREDS of British expats are battling to retrieve their pensions after losing up to £20 million in a failed OFF TO OZ: Boss Kirby investment and (above) team at pension scheme. bash Spanish-based finan- March charity cial advisory firm Continental Wealth Man- Many of them had agement (CWM) folded transferred their pripensions UK vate obliteratlast month 15:36 16/06/2017 1 Untitled-1.pdf ing many heartbroken through the company, Brits’ life savings.

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It is believed at least whose boss Darren Kir- 300 of CWM’s 900 by has now allegedly clients have had their decipots moved to Australia. pension Costa-del-Sol- mated, with victims to end up back in BritOne based expat told the shocked to later dis- ain on benefits.” Olive Press he sunk cover the value of their “I have nothing but through investments had plum- praise for Tony Barnett £59,000 CWM, only realising he meted dramatically. [Trafalgar MD] and had lost £39,000 when However, a source Stewart Davies [Mohis pension trustees close to the case in- mentum chef execusent a statement. sisted: ‘There are still tive]. They have been “I couldn’t believe it. I many customers who magnificent in tryhave lost thousands of are happy with their ing to recoup people’s pounds,” revealed the pension portfolio.’ money.” victim, asking to re- A n d a l u c i a - b a s e d The Olive Press unmain anonymous. tax specialist Angie derstands it is highly “The adviser kept tell- Brooks, a leading ex- possible legal action ing me, ‘This is guaran- pert on pension lib- may be taken by some teed, it can’t go below a eration schemes and parties against CWM, certain level’.” the founder of Pension His money, and that of Life, has now launched others across Spain and a fight to help get vicFrance, was put into tims’ money back. high-risk ‘professional She is working alonginvestor only’ assets, it side pension trustees has been claimed. Trafalgar International based out of headquarand Momentum Pen- ters in Alicante, and its sions. executives. “People are terribly Both the office in Javea distressed,” Granada- and the website have based Brooks told the recently shut. Olive Press. “They have When the Olive Press lost large amounts of spoke to boss Kirby he denied their retirement sav- ‘definitively’ ings.” responsibility over the She added: “Some of crash. “I have lost my these people are going world,” he said. A close associate of Kirby’s told the Olive Press former CWM staff were all ‘very upset’. “It is still quite raw for them, and they are working out what to do next,” he said.

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The Olive Press joined thousands of Spaniards and Brits in last ditch Brexit protest See page 5

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They’ve been getting stoned for centuries. Now UNESCO is interested in Mallorca walls. SEE PAGE 6

SPAIN’S prime minister has accused Catalan leader Carles Puigdemont of causing ‘confusion’ after signing a declaration of independence. Mariano Rajoy demanded he clarify if he had really declared independence following Tuesday’s nail biting address to the Catalan parliament. If so, Rajoy insisted he could trigger Article 155 of Spain’s constitution to allow Madrid to take direct control of Catalunya. “There is an urgent need to put an end to the situation that Catalunya is going through - to

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Power grab

SPAIN’S PP party has set out audacious plans for a power grab to take back control from Valencia and the other autonomous regions. Leader Pablo Casado announced his commitment to strengthen the central government’s role in the run up to the national elections in a fortnight. He insisted that such a move would prevent corruption and lead to a drop in taxes. It comes as the party attempts to see off the threat from an insurgent Vox Party, whose leader has described the autonomous parliaments as the ‘cancer of Spain’. Under the plan, the PP wants to increase resources for regional government delegations and paralyse any further transfer of power to the regions.

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Casado insisted the move would see Spain being administered ‘more effectively’. The election hopeful stated that his party would carry out a sweeping review of how the regional authorities operate looking at ‘efficiency and equity.’ Spain’s quasi-federal political system of ‘autonomous states’ was added to the constitution in 1978. Prime Minister Pedro Sanchez, whose party drafted the constitution, strongly opposed the plan, insisting the PSOE would defend ‘tooth and nail’ the principal of regional self-government.

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EXCLUSIVE By Joe Duggan

Pension peril

BRITISH expats who lost up to €20 million in a failed pension advisory firm believe their Fight signatures may have been photocopied onto investment documents. Given the whole extradition Around 300 Brits, most living process can take up to 60 in Spain, are battling to retrieve days, it means he may have their funds after Alicante-based to run his entire election rying’. firm Continental Wealth Mancampaign for the Catalan “This negates the very essence me they knew what they were agement (CWM) folded in SepEuropean Democratic Party of the service they are meant to doing.” tember, as first reported in the from Belgium. offer,” said Flores. “It is a blank He added: “I believe some of Olive Press a month ago. His party wants him to fight cheque to invest wherever, the investments were made Boss Darren Kirby left for Ausfor continued leadership of whenever. without my knowledge. I think tralia following the closure of the regional parliament in “If standard practice, this is that is the case because I do not the company’s main Javea ofthe December 21 elections. very worrying. recall signing sheets for all the fices. has gone down by half and I Puigdemont denied he had “Signing blank documents investments I had.” Victims, who are spread across need compensation to get it would be seen fled to Brussels to avoid jusAn email, seen by the Olive Spain, as well as in Ibiza, Malback on track. as irregular in a tice but that he left because Press, shows CWM asking a clilorca, Portugal, France and “But some people court of law. The the Spanish government was ent to sign and return a blank with Turkey, fear illegal practices have lost everyproblem preparing a ‘wave of oppresdealing instruction. after being asked to sign blank thing and don’t these firms is that sion and violence’ against Another British expat, 55, who dealing instructions. have enough to they were all inseparatists. is trying to recover around Their pension pots were then in highly live on. One re“I’m absolutely convinced €200,000, said some pensionPENSION vesting invested in high-risk assets tired victim only risky investments that the state was preparing ers ‘have lost everything’. which promised to pay out large OUTRAGE without the clihas €50,000 left a harsh wave of repression “My paper work that I sent commissions. from €480,000.” ents knowing.” for which we would have all has been altered, my risk level One 69-year-old pensioner Andalucia-based He claimed that been held responsible,” he was changed from ‘medium’ to told the Olive Press he lost lawyer Antonio losses sustained said yesterday. ‘high’ and my dealing instrucwhose €210,000 after transferring investors Flores, by “The Spanish state is comtions have been photocopied Lawbird €470,000 despite stating he BOSS: Kirby now in firm would hopefully mitting a brutal repression… repeatedly for buying and sellhad a ‘low to medium aversion Australia representrecoverable are be if we don’t battle repression ing assets I didn’t authorise,” to risk’ attitude to investment. ing some CWM together, the Spanish state as the investments that failed he said. “I was asked, ‘Can you sign this he said. left victims, said signing blank inmay win this fight.” to perform, or went bust, were “They should have been looking “I still have some money blank form. We will fill in 1the 16/06/2017 vestment sheets was ‘very wor15:36 were just am still young enough to In a show of support to the linked to life insurance policies. Untitled-1.pdf that trusting they out for me but they nests. To and I details.’ I did deposed president, around Pension trustees Momentum get compensation, but my fund their own would act in my best interests,” feathering 200 Catalan pro-indepenand Trafalgar are now attemptdence mayors travelled to ing to recoup CMW clients’ Brussels on Tuesday to stage losses. a rally. The Olive Press has so far been unable to discover if CWM was SPECIALIZING IN: registered to provide investment advice with Spain’s offiCRIMINAL LAW C cial financial regulator CNMV.

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A PALMA thief is facing 18 months in jail for stealingCY a leg of ham. CMY Prosecutors are requesting the lengthy term for taking K the eight kilogram leg of 'Cinco Jotas' ¡ jamon from a shop in the capital. The Iberico ham is valued at €685, and has yet to be recovered.

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Expats who lost millions rage at ‘unauthorised’ deals involving ‘worrying’ signing of blank sheets

CATALUNYA’S beleaguered leader has vowed to fight on from abroad. It came after Carles Puigdemont handed himself in to Belgian police when a European arrest warrant was issued. He and four other politicians are accused on charges of rebellion, sedition, misuse of public funds, disobedience and breach of trust. A judge in Belgium now has up to two weeks to decide if they will extradite the group to Spain.

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Confusion reigns

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Brits’ life savings.

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PENSION OUTRAGE

Expats lose millions in life savings through

CONFUSION reigns over who failed should foot the bill for Mallorca investment hotels hit by the collapse of airscheme line Monarch. Balearic hotels are facing a €10million bill over the colEXCLUSIVE By Joe Duggan lapse that saw the emergency repatriation of over 110,000 back to the UK, many from HUNDREDS of BritPalma. ish expats are battling Administrator KPMG told the to retrieve their penOlive Press ‘the debt owed by sions after losing up to Monarch to hoteliers will rank £20 million in a failed as an unsecured claim’ against pension the defunct airline. investment OFF TO OZ: Boss Kirby scheme. and (above) team at “They will have to file a claim to Spanish-based finan- March charity bash the joint administrators for all cial advisory firm Conthe money they are owed,” said a spokesman. tinental Wealth Man“It has not been determined agement (CWM) folded Many of them had (yet) how much money will be last month obliterat- transferred their private UK Untitled-1.pdf pensions available to creditors.” 1 16/06/2017 ing many 15:36 heartbroken

through the company,

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SEE PAGE 20

whose boss Darren Kir- It is believed at least by has now allegedly 300 of CWM’s 900 clients have had their moved to Australia. pots One deciCosta-del-Sol- pension based expat told the mated, with victims to end up back in BritOlive Press he sunk shocked to later dis- ain on benefits.” £59,000 through cover the value of their “I have nothing but CWM, only realising he investments had plum- praise for Tony Barnett had lost £39,000 when meted dramatically. [Trafalgar MD] and his pension trustees However, a source Stewart Davies [Moclose to the case insent a statement. mentum chef execu“I couldn’t believe it. I sisted: ‘There are still tive]. They have been have lost thousands of many customers who magnificent in trypounds,” revealed the are happy with their ing to recoup people’s victim, asking to re- pension portfolio.’ A n d a l u c i a - b a s e d money.” main anonymous. The Olive Press un“The adviser kept tell- tax specialist Angie derstands it is highly ing me, ‘This is guaran- Brooks, a leading ex- possible legal action teed, it can’t go below a pert on pension lib- may be taken by some eration schemes and certain level’.” His money, and that of the founder of Pension parties against CWM, others across Spain and Life, has now launched France, was put into a fight to help get vichigh-risk ‘professional tims’ money back. investor only’ assets, it She is working alongside pension trustees has been claimed. Trafalgar International and Momentum Pen- based out of headquarters in Alicante, and its sions. “People are terribly executives. distressed,” Granada- Both the office in Javea based Brooks told the and the website have Olive Press. “They have recently shut. lost large amounts of When the Olive Press their retirement savspoke to boss Kirby he ‘definitively’ ings.” denied She added: “Some of responsibility over the these people are going crash. “I have lost my world,” he said. A close associate of Kirby’s told the Olive Press former CWM staff were all ‘very upset’. “It is still quite raw for them, and they are working out what to do next,” he said.

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England.” The Olive Press exclusively revealed how CWM abruptly folded in 2017, losing hundreds of expats’ life savings in the process. The firm, which was based out of the Marriott Hotel, in Denia, had ‘eight to ten’ telesales staff and clients scattered around Europe, revealed a

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HE average property price in Spain has grown for Prices two consecutive years for the first time rise for two consecutive years, However, he added ‘at the very least, the The national average house price rose in a decade. while data suggests that the from between mortgage values continue to grow Spanish property continued to grow last year.’ 3.9% to 8.4%, according to Mortgage lending to home buyers meanwhile Along the Mediterranean coasts andvarious sources. was up 6.1% in January to 19,390 new loans, according most foreigners buy, the average price on the islands, where Balearic Islands. to the Association of hike has been 4.06%, ac- “Prices have Spanish Notaries. cording to Tinsa, Spain’s leading property been appraisal company. but nothing like rising most years since the recovery began, The average new loan made in But the figures have mostly not yet they did in the boom years, January had a value of €135,616, made during the long six year recession, with up for the big drops enough to claw back the ground lost in and nowhere near an increase of 0.9% in a year. As long as mortgage lendingfor the bust,” the exception of the respected analyst Mark Stucklin, of Spanish Propertyexplained residential acquisitions continues to increase, as it has done for Insight. the last few years, the Spanish property market is set to grow.

Judge set to take further steps after expat boss of suspect investment company fails to turn up at court

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FACE THE MUSIC

THE beleaguered boss of a failed wealth management company which allegedly lost expats more than €20 million has ignored a summons to court. Darren Kirby, of Alicante-based Continental Wealth Management (CWM), failed to turn up at Denia court on March 26. According to Olive Press sources he was due to turn up, alongside former business partners, who did turn up. The case involves a trio of investors, who lost substantial amounts of money when the company folded in 2017. Kirby allegedly fled to Australia following the collapse, finally returning to Alicante last year. “Darren has been sent a Burofax which he didn’t sign for, so the court will now have to pursue him in other ways,” a source said. “A judge is dealing with this and it’s under legal review,” he added. “We understand he is currently in

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former member of staff. “It was a prestigious place but one day they just shut the door,” she said, asking not to be named. Victims had raised fears about being asked to sign blank dealing instructions and their pensions being invested in high-risk assets which paid large commissions. One pensioner based on the Costa Blanca told the Olive Press he lost €210,000 after transferring €470,000 despite stating he had a low to medium risk attitude. “I was asked, ‘Can you sign this blank form. We will fill in the details.’ I did that trusting they would act in my best interests,” he said. “They should have been looking out for me and they were just feathering their own nests. To me they knew what they were doing.” Lawyer Antonio Flores, whose firm Lawbird is representing a number of victims, said signing blank investment sheets was ‘very worrying’. “This negates the very essence of financial advisory services,”said Flo-

NO SHOW: Darren Kirby

res. “It is a blank cheque to invest wherever, whenever. “It is very worrying as they were investing clients’ money in highly risky investments as well as dubious funds just because they paid the higher commissions.” He added that losses sustained by investors should however, be recoverable as the investments that failed to perform, or went bust, were linked to life insurance policies. When the Olive Press finally got hold of Kirby in October 2017, he denied all responsibility. “I have lost my world,” he said.

Are you a victim or former staff member? Do you know more about the case? Contact the Olive Press at newsdesk@theolivepress.es

Tel. (+34) 96 649 18 29 info@hispaniahomes.es www.hispaniahomes.co.uk

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2017 collapse after CWM’s September claimants are seeking crim- left him with just €22,000 from initial British threeNew quality homes fraud, fake investments of more than ₤800,000 EXCLUSIVE inal charges for aggravated fashion deto a criminal since belonging By Joshua Parfitt A WELL-KNOWN expat accounting and 1958 (approx €900,000). of receiving up with depressigner has been accused organisation. Davison was diagnosed Costa into losses’. concern bungled house sion just weeks after the collapse, before to €1million from an unlicensed huge sums ‘without falling that doz- The complaints company. unpaid loans and failed turning to alcohol abuse and developBlanca financial advisory name were Worse, it comes as it emerges claimand penni- transactions, to a video Companies in Jody Smart’sContinental ens of victims left destitute are suing pension investments that lost the ing type-2 diabetes, according given the money by defunct in the two less by the Denia-based firm Darren ants over €1million between them. trag- shot just before his death. and Davison, Wealth Management (CWM) collapse Smart and her former partner One of the victims, Mark July this year His body, covered with lesions for up to aged 59, in years’ before its high-profile sores, had lain undiscoveredheat at his an estimated Kirby. the courts, ically died, left hundreds of investors it can be re- In the first case to reach a week in the mid-summer €20million out of pocket, home in Sanet. what had been vealed. “Mark died as a result of taylorwimpey971 706 972 paid a felA total of €999,435 was Bell done to him,” Timothy Benjamin, by the Olive spain.c Press. seen Olive the told to her fashion label Jodycomdocuments claimant, In low om €3,391,873 of want the daylight FREE SL and property holdingSL bePress, CWM was paid Vol. 1 “By the end he didn’t insurance pany Mercurio Conpro 13 www.the commission for selling by two Cy- Issue to appear.” They’v felt ‘ashamed’ likewise ss.es tween 2015 and 2017, accordbondseand investments Benjamin, 67, olivepre penOctober financial firms, between ing to bank statements shown his €250,000 private been lost he prus-based after 2017. getting and September into ‘risky’12th - October to the Olive Press. October 2015 sion, reinvested by CWM 26th 2017 from paid stoned Brit Jody, 43, was also for 2019 statement A January Spain via QROPS. he told the revealed As investments, centu a €144,000 salary - despite Spain’s In his official testimony ₤325,000 not ries.financial regulator were sold incelebr telling a court that she ‘didbe a how he had transferred property insurance bonds courtates Now to a meant it UNESofCO the law. BACKIN know what approx) from Hispa breach (€375,000 money and G DOWN: nia Day, is intere As sherry on the basis the firm was sole director of company’ is certain is that this Whatsted Carles for its key the sale to CWM was only involved in ‘marketit in a villa in Monte Pego. funded a ‘lavish lifestyle’ who were Olive in Mallo gets big Press ₤200,000 runs investing ing and PR’. rcaKirby and Smart, from 2011 court papers revealed But a rule decaccount of walls.players London, in In a series of shocking in a relationship together to former went directly to the bank over Colum we larations given to Denia’s to March 2017, according look at some it SEE PAGE bus Continues on Page 2 Court of Instruction No.3 staff members. 6 SPAIN’S quirky Jerez has emerged that the compathese accused prime minister ny could ill afford to pay Catalan cocktails has Puigdemo SEE 18 29 leader Carles Tel. (+34) 96 649 PAGE nt

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BACKING DOWN: Carles

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‘confuof independsigning a declaratio n Mariano ence. clarify if Rajoy demanded he independhe had really day’s nail ence followingdeclared Catalan biting address Tuesparliamen to the If so, Rajoy t. insisted trigger he Article constitutio 155 of could Spain’s take direct n to allow Madrid control of “There Catalunyato is an urgent . put an end need to Catalunya to the situation is going through that - to Continues on Page

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ION reigns should foot over who through gs hotels hit the bill for Mallorca by the collapse failed line Monarch. investmen of airBalearic t scheme €10millio hotels are facing a lapse thatn bill over the colrepatriati saw the emergenc EXCLUS IVE y back to on of over By Joe 110,000 Duggan Palma. the UK, many from Administ HUND rator KPMG REDS Olive Press ish expats of Brit‘the debt told the Monarch to retrieve are battling to hoteliers owed by as an unsecured sions after their will rank the defunct claim’ against losing pen£20 million “They will airline. up to pension in a failed the joint have to file a scheme investm the moneyadministratorsclaim to ent OFF TO Spanish. OZ: a spokesmathey are owed,”for all -based and (above) Boss Kirby cial advisor n. said “It has team at y firmfinan- March charity tinenta (yet) hownot been determin Coned agemenl Wealth Manbash available much money t (CWM) to creditors. will be last folded Many of month ”

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whose by hasboss Darren Kir- It is believe moved now alleged d at least to Austral ly 300 of CWM’s One clients Costa-d ia. based el-Sol- pension have had 900 Olive expat told their pots the mated, with deci£59,00 Press he sunk shocke victims CWM, 0 through cover d to later the had lostonly realisin dis- to end up g he investm value £39,00 back ain on his pension 0 when meted ents hadof their “I benefit in Britplumsent a stateme trustee dramat s.” have nothing ically. s Howev er, praise “I couldn nt. close to a source [Trafal for Tony but have lost ’t believe the case gar MD]Barnett thousan it. I sisted: ‘There pounds in- Stewar t many and victim, ,” reveale dds of are custom are still mentum Davies [Moers who tive]. the asking chef execuhappy main anonym to pension with their magnifThey have “The adviser ous. re- A portfol ing to icent in been ing me, kept tell- taxn d a l u c i a - io.’ try‘This b a s e d money. recoup people’ teed, it is guaran Brooksspecial ist Angie ” can’t go s The Olive certain , a leading below a- pert level’.” ing many oblitera transfe Untitled-1 them derstan Press rred their had His money, erationon pension ex- possibl .pdf t- vate ds it is unBrits’ life heartbr 1 others libscheme highly pri- France UK savings oken 16/06/2017 acrossand that of the founde through15:36 s and may bee legal action pension . Spain r Life, the compan s high-ri , was and has nowof Pension parties taken by some put into a fight against y, investo sk ‘profes to helplaunche d CWM, sional tims’ money r only’ get has been assets, back. vicclaimed it She is workin . side pension g alongTrafalg trustee ar Interna s and sions.Momen tum tional based Penout of headqu “People are terribly ters in Alicant distres executi e, and arbased sed,” Granad its Both ves. Brooks Olive Press. told a- and the office in the website Javea lost large “They the recentl amoun have When their retirem have y shut. ts of ings.” ent savspoke the Olive Press She added: ‘definitto boss Kirby these people “Some ively’ he of respon sibility denied are going crash. over world,” “I have lost the my A closehe said. associa Kirby’s te of Find out told Press more on formerthe Olive staff page XX 20 set’. were all ‘veryCWM up“It is still quite Ave de Gabriel for them, Roca 4, Palma and they raw workin g out what are next,” he to do said.

tence of purchasing a property. Along with colleague Alan Gorringe, who has since died, Smart also defrauded another victim of €70,000 through a sham loan agreement. The court ruled Smart was the sole administrator of Continental Wealth Trust, while the court also named her then-husband, Darren Kirby, as being in on the scheme. While Smart was involved with CWM when it collapsed in 2017, Kirby was the sole administrator and was thought to be the mastermind.

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CRUISE CRAZY Opinion

Page 6

Cruise ship passengers have already pumped £4 million into Gibraltar’s economy this year as port calls soar by nearly 75% GIBRALTAR has been welcoming a non-stop wave of cruise ships since the season started in earnest earlier this month. Only those who’ve not left their house in weeks would fail to notice the heaving number of bodies in Main Street, or the increased footfall in the shops and restaurants. And the numbers do not lie: approximately 62 cruise ships have stopped in Gibraltar so far this year, according to government figures. It compares to 36 for the same period in 2024 – a hefty 72% increase in ship calls year-on-year and a veritable boon for the economy. A total of 245 cruise ships are currently booked to stop in Gibraltar for the year of 2025, which is already a 33% boost on last year’s 185 (and 303,592 passengers). What is less well known is the number of passengers who have disembarked so far this year. Between January and March, 26,000 passengers (plus 13,000 crew) arrived – however the figures for April are not yet out. But according to cruise ship timetables, the 30 different ships scheduled for this month alone will deliver up to 50,000 passengers to Gibraltar – 20%

By Walter Finch

more than the entire population at just under 40,000 residents. For comparison, the first four months of 2024 saw 55,380 cruise ship passengers in total set foot on the Rock, according to government statistics. The Sun Princess, which called on April 7 (and will call again on April 28), can carry 4,310 passengers, while the Mein Schiff Relax, which stopped in on its maiden voyage on April 12, has space for 3,984. So how are all these people impacting the economy? While spending figures are out for neither this year or the last, numbers for 2023 show that each passenger spent an average of £53 – as opposed to just £25 for visitors crossing the land border. A quick calculation shows that, based on 2023’s figure, cruise ship passengers have so far injected over £4 million into Gibraltar’s economy this year. It is expected they will exceed 2019’s pre-pandemic peak, when they splashed £13.4 million. The numbers have been greeted with elation by Gibraltar’s business community. “I cannot overstate the significance of cruise tourism to Gibraltar's economy, particularly the many shops, restaurants and activities that heavily rely on tourism,” Eran Shay of the Gi-

braltar Federation of Small Businesses told the Olive Press. “We are aware that some destinations are restricting the number of cruise liners that can stop at their ports, but we welcome cruise liners and cruise passengers with open arms.” Shay, who is the GFSB board director responsible for tourism, also pointed out the importance of cruise liners in the event of a Non-Negotiated Outcome in treaty talks. “Cruise liners are less likely to be impacted, as opposed to the flow of visitors coming via the frontier. “So it is important to maintain a strong relationship with the cruise liners in preparation for any eventualities.” But Shay had a warning for the government: “Continued investment in port infrastructure and collaborative marketing strategies will be essential to sustain and enhance this sector. “In this way, we can ensure that Gibral-

tar remains a top destination for cruise liners, further bolstering our economy and providing enduring support for our businesses.” Opinion Page 6

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Suspicions

Whether Sharman will have the time to tend to the new crop will be open to debate given the ‘Herculean task’ he faces, according to the GSD. The last set of public accounts to be delivered were for 2017 and 2018 – as recently as January this year. Former auditor and Shadow Minister for Public Finance Roy Clinton noted that ‘the public rightly reacted with horror at the wanton waste and abuse exposed in those reports.’ “Mr Sharman faces a Herculean task in completing the audits of the six years of outstanding Gibraltar government accounts.” The backlog in auditing the public accounts has long led to suspicions about what could be lurking within. “We never did get to the bottom of why the accounts are so far behind,” the recruitment insider added. “It could be a question of under-resourcing the Public Auditor’s office, but people also need to cooperate in providing the data and materials for the auditors to do their jobs. “If they’re getting slow rolled then of course it will be a challenge to catch up.”

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THE latest Brit to take up one of the Rock’s key public roles is ‘not part of a UK takeover of Gibraltar’, according to insiders in the recruitment process. An Englishman, Phil Sharman (below), has been appointed as the new Principal Auditor, taking over from the retiring Tony Sacramento. The announcement comes just weeks after Welshman Owain Richards was announced as Gibraltar’s new Commissioner of Police. The duo set tongues a-wagging on the Rock that the appointment was part of a strategy by London to strengthen its grip on the territory’s administration. Political commentator and retired barrister Robert Vasquez observed: “The UK is tightening its sway over the administration of Gibraltar by flexing its muscle and, through influence, appointing (so far) two constitutional officers from the UK.” “It is a start toward good governance, as distinguished from political governance.” However, sources have told the Olive Press ‘this is not true at all.’ “We never intended originally to recruit from the UK but we had no choice other than to go external,” the person said. “Initially we tried to find a successor internally within Gibraltar, but the only real candidate pulled out due to personal reasons. “When we did look abroad, Phil Sharman was head and shoulders above the competition, having ideal experience from working in other British Overseas Territories. “We are hoping that as well as working through the significant backlog in the accounts, he’ll help train up the new generation of local auditors.”

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