Trump lawsuit against Cap Cana - Russian mafia money in Cap Cana - Huge scandal involving Green Village and Stewart Title - USD 500 million lost in Cap Cana - Don't buy in Cap Cana!!

Warning: Before even thinking about investing in Cap Cana you should read these articles, Your money are NOT safe with the Title companies in The Dominican Republic - more than 100+ lawsuits from investors against Cap Cana!! Dominican Watchdog has as of April 3rd 2012 issued a "NO BUY" for anything inside Cap Cana until the management has been changed!!

 

BREAKING NEWS / Donald Trump in USD 5.8 Million lawsuit against Cap Cana

     
 
 

The Donald Trump Cap Cana "Ponzi Scam" is officially over!! The 8,000-acre, oceanfront project was launched in 2007 with a USD 350 million sale of the Trump Farallon Estates at Cap Cana, a gated community of 68 lots costing $3 million to $12 million each. Desperate property owners in Cap Cana dump their properties at 25- 40% of original price in upcoming auction in September, Let’s see if they will sell anything…..

 

 

Mega Cap Cana scandal involving Stewart Title and Green Village

Cap Cana is in a Free Fall - Ritz Carlton, Trump and everybody else has left the sinking ship! Investors who expected to be protected by Stewart Title lost their money. Cap Cana has stopped paying the penalties stipulated in the contracts and all the small investors got fucked for USD 134 million just in Green Village alone!! read more

 

 

Bye Bye Cap Cana, Catch Me If You Can........

 

 

Hazoury, Cap Cana involved in another huge humanitarian scandal

Desperate RICARDO HAZOURY ? YouTube video state that Hazoury and Cap Cana destroyed 25 homes of working class people in Cabo San Rafael. The houses were demolished with trucks and bulldozers without number plates. Some families lived here for over 20 years and now the road is closed and families have no longer access to their land. This video should make you boycott Cap Cana......

 

 

Update, November 22, 2011

High profile lawsiut against Cap Cana from the famous Spanish political candidate and head of the Spanish lawyer association Don JULIAN ANGEL RUIZ NAVAZO (http://www.pcal.es/es/burgos/?iddoc=7163) who was in the DR in regards to his lawsuit against Cap Cana. He is represented in the Dominican Republic by José Manuel Alburquerque Prieto from Alburquerque & Alburquerque in Santo Domingo...... read more

 

 

November 10, 2011

 

 

Cap Cana Defaults on 2016 Bonds, High profile lawsuit from Spain

     

Cap Cana missed an interest payment on OCT 31st, 2011 of about $4.8 million and “based on its currently projected cash flows, it will not be able to resume interest payments on the 2016 notes for the foreseeable future,” the company said in a statement today.......

High profife lawsuit against Cap Cana from Spain!!

......Cap Cana spamming Google to suppress bad press......

read more

 

 

 

Cap Cana says "Sorry, We Are Sorry - YES, We Are Broke!"

Update 5 - SEPT 27, 2011 Cap Cana close to failure? Complaints from owners in Cap Cana state that the biggest problem is that Cap Cana can't afford to pay their part of the monthly fees for all the empty shops and apartments to the condo association!

 

Update 3, March 23, 2011 - Punta Cana, Dominican Republic.- Intelligence agencies follow the paper trail of the Russian Mafia’s investments in the country’s eastern tourism region and in other areas, to locate and subsequently confiscate them, diariolibre.com.do reports.

 

It reports that the presence of Russian capos is a fact especially in the East region where underworld scandals have already occurred, including that of two brothers, one of whom was executed gangland style together with his wife in the “Kremlin” style house in Bayahibe, and which is still unsolved.

“The Russian Mafia’s tentacles have arrived in this zone, where some actions linked to drug trafficking and also murders have yet to be clarified, the news source report says.

Russian investments

Current Russian investments include show business figures in Los Corales i Punta Cana and in nearby Cap Cana, which has participated with a delegation of the country in the "Russian–Spanish Safari," hosted by the Tourism Ministry, considered among the top the real estate events in St. Petersburg and Barcelona

 

Earlier articles:

In the interest of international consumer protection Dominican Watchdog has sent 2 mails to Cap Cana sales with questions related to TRUMP Farallon Estate and Altabello Fishing Lodge. There are serious questionable consumer issues related to these two projects and a new blog has been set up to post updates as local media has not been critical towards the Cap Cana development for years. Follow our new consumer protection blog CapCanaNews

 
 

Other Cap Cana articles:

Former Dominican tourism minister and ex Cap Cana Executive in house arrest for mega fraud against foreign real estate investors

 

Very interesting reading: Failed TRUMP projects

 

ECONOMIST INTELLIGENCE UNIT REPORT ABOUT CAP CANA PROBLEMS

 

News Update April 2, 2010

Here is the questions sent to Cap Cana in regards to TRUMP Farallon Estate and Altabello Fishing Lodge.

 

Dominican Watchdog have the following questions based on earlier press release from Cap Cana and the Trump organization of "the ever biggest sale of USD 350 Million in one day" and "We are going to invest $2Billion"
 
 
1. When did Donald Trump last visit Trump Farallon Estates?
2. How many villas and golf courses have been completed up there now 3 years later? 
3. How many original buyers of the special Farallon deal has defaulted(how many lots still for sale)?
4. Any news about the special Trump condo hotel designed by WATG one year ago?
5. Can it be considered a safe investment for new buyers to take over existing Farallon contracts?
6. Is Cap Cana up to date with Royalty payments to Trump for using his name?
7. Is it likely that we could see another Trump Baja California Mexico situation at Cap Cana?
8. Has Trump come forward with any developers or funds for to his Farallon project?
9. What was the cut to Donald of the 350M (what does the contract of Feb 16th 2007 state)?
10. Does Ricardo Hazoury today feel that buyers was mislead by TRUMP or did they have all necessary
information to pay USD 350M when next door land cost a fraction of that....?
 

A few days after we emailed our questions to Cap Cana sales, a very interesting status report about TRUMP Farallon Estate was posted on DR1.com by a visitor to the project. Read it here and you will figure out most of the answers to questions. You should also see this eyewithness video on YouTube. Nothing happens in Cap Cana unless they spend money on events to attract visitors.

 

Dominican Watchdog has also sent the following questions to Cap Cana sales in regards to Altabello Fishing Lodge, because it has for a long time been a well kept secret that something is very wrong at Altabello Fishing Lodge(See the ruins of Altabello in this YouTube video):

 

1.How is the current situation with the unfinished skeleton standing abandoned since the opening of the Cap Cana Marina?
2. When do Altabello Fishing Lodge actually plan on delivering the units their buyers?
3. Is it true that some buyers paid deposits over 5 years ago which is not insured by Stewart title as the rest of Cap Cana?
4. Is it true that Altabello Fishing Lodge is not a project done by Cap Cana and Ricardo Hazoury?
   a. If YES, then why is it promoted with pictures of Cap Cana but not a single picture nor a status/update of its own?
5. Is it true that money from investors in the Altabello Fishing Lodge was used to build the Sanctuary Hotel in Cap Cana?
   a. If NOT, then what happened to all the funds that are not secured by Stewart Title?
6. Can you confirm that the person behind Altabello Fishing Lodge and Sanctuary Hotel is the same?

 

Dominican Watchdog has not reveived any answer from Cap Cana to our questions, but we have received emails from worried investors in Altabello. 

Update 4, July 27, 2011

Cap Cana has proclaimed opening of Altabello later this year, however many of the promissed activities and adventures are not done. Cap Cana sold the Altabello project with a promise that Buddha Bar would be part of Altabello in the original plan, but what is finally opening is a scaled down version!

 

Dominican Watchdog has contacted Craig Karmin at the Wall Street Journal as he has a general interest in TRUMP projects and recently wrote an article about the problems of TRUMP SoHo in New York.

The days of "What happens in Cap Cana, stays in Cap Cana" is over! Stay tuned and follow our new blog which has been set up to inform the public in the interest of international consumer protection: Cap Cana News

Cap Cana keeps announcing projects of hundreds of millions of dollars, but little is actually happening out there. Maybe it would be a good idea to finish some of the projects before news ones are announced. Also some of the 3 Jack Nicklaus golf course are still missing and Donald never got started on his!

Cap Cana is probably the most boring destination in the Caribbean today(Watch this YouTube video) and can easily end up as the biggest ever real estate flop unless prices are ajusted to the real market value very soon. All the buyers in Cap Cana stand to lose hundreds of million of dollars and many are probably walking away from their payment obligations like so many other places in the world.

That will create cash flow problems for Cap Cana and the project will return to the problems of 2005/2006 before Bernstein sold the USD 100M bonds to get Cap Cana back on "life support". These bonds too are hurting Cap Cana. So all in all the development is a big gamble and not a safe investment today. Now when the TRUMP hype is gone and the dust has settled you might take a better look at other developments around the Dominican Republic which has been fully developed and have people living there full time.

 

Read also: Hazoury brothers behind Cap Cana forced to close their news paper Clave Digital despite building new HQ and buying expensive printing machines from Germany.

 

Don't lose your money, time and life in Dominican Republic!
100+ Reasons to visit and invest in Panama!

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