In 2 years foreign property buyers lost over US$ 1 billion in Punta Cana alone - Judge released title fraud group, to continue their scams!!
Foreign property buyers of vacation homes in the Punta Cana area lost more than US$ 1 billion on unfinished developments like Cap Cana, Punta Perla and Roco Ki among others in the last couple of years. This is only the top of the iceberg in the Dominican Republic were a corrupt justice system and useless title guarantee companies has left foreign buyers without money and property all over the island.

Those who managed to get their properties delivered in Cap Cana has lost about 40 to 70% of the value of the property and this is just an estimate as sales has stopped. However buyers are still forced to pay monthly service charges to the owners association despite Cap Cana themselves are not paying in their part for all the empty and unsold units.

The only ones who are making money from this tragedy are the law firms as hundreds upon hundreds of lawsuits has been started against developers in the DR. The problem with the legal system is that Class A lawsuits doesn't work, each man has to carry his own claim forward and the process cost a lot of money and can easily take 5 to 8 years to win a lawsuit.

The chances of a foreign investor winning a case is 1 to 10 due to the corruption of the legal system. And even if he wins it can take years to collect on the verdict. In the end it's unfortunately cheaper and less stressful just to walk away from the problem. They Dominican developers know that and therefore keep their scams running with illegal titles and unfinsihed properties.

In the light of these peoblems Dominican Watchdog urge all property buyers who lost money in the Dominican Republic to get on to the internet and facebook!!! Write your story, expose the fraudulent estate agents and developers on blogs and scam forums, setup hate pages, this in end might give you some little satisfaction, but more important it's unfortunately the only way to force a change in the corrupt and fraudulent ways that real estate business is done in the Dominican Republic.

That's what this guy didhttp://golfcapcana.wordpress.com/ and how we got the story about Green Village!

 

These articles shows only some of the problems!!

 

Substitute judge releases 5 charged with title fraud, foreigners lost millions of USD  This update to the earlier story means these criminals are back on the streets to continue their scams!!!!!

 

Vicini Group vs Roco Ki Bankrupt?

 

Real estate boom or money laundering in Dominican Republic - You Lose! (Update 20)

 

Cap Cana vs Trump - Russian mafia money in Cap Cana - Huge scandal involving Green Village and Stewart Title - 100+ lawsuits from investors - Don't buy in Cap Cana!!

 

Swindled Major League Baseball player also demands investment protection

 

Mega Cap Cana scandal involving Stewart Title and Green Village

 

Punta Perla, one BIG scam? Prince Albert know nothing about Punta Perla! Who is financing Ricardo's lifestyle today?

 

Realtor vanished with their money, Ilonka Castillo can't leave DR - Over USD 300 Million gone missing in Punta Cana!

 

James Catledge, Impact Inc. & Impact Net Worth, LLC vs Sun Village Dom Rep 

 

Deed forgery ring scammed Dominicans and foreigners for years

 

Thousands of lawyers have fake IDs in Dom Rep!

 

Beware of title-forging lawyers, Cadastre chief warns

 

Dominican Government ex officials face real estate fraud charges in New York

 

Mountain resort is the latest Dominican Government scandal

 

Cement mafia operating in the Dominican Republic - Update 2

 

Dominican President, Monaco Prince named in Spain “macrofraud” case

 

Titles mafia reigns in Dominican Republic’s top resort region

 

Vargas says 50% of land in DomRep has no title

 

Top Dominican lawyer: More than 3,000 shysters practice Law

 

Top Dominican government officials have stolen more than RD$100 billion(Update 3)

 

 

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

 

Go back | Date: 23 Sep 2012
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