Former Client suggests Caution – When doing business with Ulf Jimmy Broddesson
Dubious property transactions in Spain and Switzerland
Ulf Jimmy Broddesson has a criminal record in Sweden. After his “”, he worked in Monaco and Palma de Mallorca, where he left some dissatisfied customers behind. He is currently active in Switzerland.
Ulf Jimmy Broddesson, Crans-Montana & Sion, Switzerland
Broddesson is currently registered in Crans-Montana. He runs the company Swiss Montana Driver Sàrl, domiciled c/o Jimmy Broddesson, Rue Centrale 46, 3963 Crans-Montana, active in the field of “passenger and goods transport (road and other transport)”.
According to information from the building department, there is also a planning application for the construction of an apartment block. Based on further indications, this is to be built in the area typical Chalet-style. It can be assumed that Broddesson intends to sell the flats as condominiums. Broddesson is associated with Frederik Reiderstad https://reiderstadinvest.com/. Broddesson does not appear on his website https://reiderstadinvest.com/about-us/. It is possible that the sale of Broddesson’s property is handled by Reiderstad, to hide the not entirely trustworthy story of Broddesson. See https://reiderstadinvest.com/cransmontana/listings/. You will search in vain for an imprint.
Broddesson operates the following companies in Sion, the capital of the canton of Valais, not far from Crans-Montana: Montana Real Estate Sàrl, domiciled at c/o Aymon Fiduciaire & Conseil SARL, Rue du Rhône 26, 1950 Sion. Company purpose: Management of real estate and flats. Swiss Project Group Sàrl, same domicile. Business purpose: Interior architecture and interior design. The authorized signatory in all companies in Sion is the trustee Jérôme Michel Zimmermann. The company Swiss Project Group Sàrl will be mentioned again in connection with Mallorca business.
Broddesson’s website is “Swissprojectgroup” https://www.swissprojectgroup.ch/ Beautiful “glossy pictures”, which are in heavy contrast to what customers report. An imprint is missing.
Trail of dissatisfied customers on Mallorca
Various clients reported how Broddesson had ripped them off and delivered poor work.
One of them told of a property purchase in which Broddesson acted as agent. He demanded a 6-figure deposit. When the purchase ultimately failed to materialize, he retained the deposit. The customer in question is forced to take legal action against him.
In another case, Broddesson demanded a payment of € 350,000 in addition to the purchase price of 1 million for “work and advice on the sale of the property“. The seller was a company owned by Broddesson. The additional agreement was concluded between the buyers and the company Swiss Project Group Sàrl. The customers entered into this agreement because Broddesson made them believe that this was necessary so that he could then take care of the renovation and extension of the flat. Initially, he wanted the money to be transferred to a Turkish bank. However, the customers became suspicious and the payment was finally made to Swiss Project Group Sàrl. It is clear that this involved a hidden portion of the purchase price, false certification to the land registry and tax evasion. A criminal complaint is pending.
Broddesson demanded a further € 75,000 separately for the actual project management. The contract was awarded to Palma Build Ltd, which is headed by a front man of Broddesson, an Englishman named Matt Powell. The customers paid around € 260,000 for the construction work. However, an expert report showed that less than 50% of this sum was actually spent. And the icing on the cake: Much of this project had to be dismantled because it showed incredible unprofessional work and carelessness, which has been documented by expert reports. For example: shower drain was not connected, ends in the masonry, use of incorrect ceiling profiles with a risk of collapse, use of incorrect adhesive for the wall plaster-boards, which therefore did not adhere properly, etc.
When the customers in the latter case began to complain, partly because Broddesson was behind schedule, he cancelled the construction work. The customers were left sitting on the building site, having to dismantle and rebuild most of it. Civil lawsuits are pending in Mallorca and Switzerland.
In Spain, Broddesson continues to operate companies such as Palma JB Art & Design SL and
PL Invest Yacht & Property SL. Little is known about their activities in the meantime. The company PL Invest Yacht & Property SL appears in the purchase contract of one of the above-mentioned properties as the seller’s representative. It appears that Broddesson is focusing on business in Switzerland.
Previously convicted in Sweden
Broddesson was already active in Sweden in 2000 (sole proprietorship). Lexbase is an online service with public information from Swedish courts and other authorities. Here you will find judgements in criminal and/or civil cases concerning persons. 2 entries of Broddesson, one of them in Montecarlo.
https://lexbase.se/personsok?Search%5Bfullname%5D=Jimmy+Broddesson&s=35054ff83524ce5977f39d0b35840bb4
First entry: Serious accounting offences, 6 months’ imprisonment, Broddesson was banned from doing business for 3 years. Confiscation of items and documents seized from Tra Nova AB ‘s offices at Kajpromenaden 24 in Helsingborg and from Broddesson’s home at Föreningsgatan 13 in Helsingborg and Hövitmansgatan 13 in Helsingborg, as well as items and documents seized from his vehicle. Ivan Cicak was Broddesson’s business partner and a co-defendant; documents were also seized from his vehicle.
According to Broddesson’s own statement, he had completed primary school and part of secondary school before becoming a board member of Tra Nova and did not know much about accounting tasks. He and Cicak had bought the company for 1 crown and were half shareholders, with Cicak already involved in property, cars and day trading. They sold cars worth 43-44 million (crowns). Both stated that they “did not know much about business”. Customer contact etc. had been via Broddesson.
The two defendants repeatedly referred to ignorance or trustees who had not requested documents, etc. The court concluded that “the allegations of Cicak and Broddesson that they failed to record the transactions due to ignorance, lack of time and negligence appear implausible given the nature and extent of the company’s activities and the involvement of an accounting firm and auditor. It also seems unlikely that Cicak, who by his own admission was involved in real estate and day trading, was unaware of the applicable regulations. Given the size and scope of the unrecorded transactions, there is no reason to accept any explanation for the non-recording other than that it was done for the purpose of tax evasion. The two had no objections to the prison sentence of 6 months.
Broddesson’s current address according to Lexbase: 24 Av.de Frontenex m P.o.box 6292 Genève, CH-1207. The address is a hotel. However, Broddesson’s current real place of registration is known, see above. Incidentally, Broddesson still lists Geneva as his location on his LinkedIn profile. https://www.linkedin.com/in/jimmy-broddesson-445955b5/
We are not reporting on a second entry because it is too complex. Although the plaintiff in the case is Broddesson himself, his role vis-à-vis a business partner is also dubious here.
How to behave towards Jimmy Broddesson?
Future clients should be aware that they are taking risks when doing business with Ulf Jimmy Broddesson or one of his companies, possibly also with the authorities. For example, Broddesson concealed breaches of building regulations when selling a property, which customers subsequently had to pay for. We do not generally advise against a business relationship if the property appears particularly attractive to a client, but we do urge caution.
Customers should always have Broddesson contracts checked and corrected by a lawyer. Existing contracts show how Broddesson has drafted them in such a way that the assertion of claims becomes legally difficult (e.g. due to the jurisdiction clauses). Furthermore, no “supplementary contracts” to property purchase agreements should be concluded, as in the example cited above. For construction contracts, contracts for work and labour should be concluded that meet the usual national standards and have been checked by a building trustee or a lawyer.
