Cabinet Discussed Sanctuary Belize Multimillion-Dollar Scam
Manuel Heredia Jr.
In 2017, a multimillion dollar investment was supposed to give way to a world-class tourism development in Belize, but the Puerto Azul project turned out to be nothing more than Ponzi scheme. More than two hundred private investors were jilted out of millions of dollars and Belize was at the center of it. Sounds familiar? That’s because the latest scam to hit Belize, leaving black and bruised eye, is the Sanctuary Bay multimillion dollar real estate scam. And again, Belize is at the center of it. According to the Federal Trade Commission, Andres Pukke and his associates are accused of duping investors into buying Sanctuary Belize lots by falsely promising that the development would include luxury amenities and that the property would be completed soon. It has been fifteen years and the project is far from completion. In fact, the F.T.C. reported that Pukke needs about five hundred million more dollars for the project to be realized. After being revealed as one of the biggest real estate scam that the F.T.C. has uncovered, several international news agencies such as the Washington Post have picked up and reported on the story. It’s an international public relations nightmare for the government which has discussed the issue, according to Cabinet Minister Manuel Heredia Junior.
Manuel Heredia Jr., Minister of Tourism
“As a government we are very concerned about this situation. From day one when I took over there was the Sueno del Mar deal. So every time we are more cautious with investors. There is a subcommittee of cabinet that looks at projects now. We require a certain percentage; I believe it is fifteen percent, of the total amount to be deposited in Central Bank before moving forward. That is the situation with Blackadore, that project over there. They have not been able to come up with the fifteen percent. They have the green light to start tomorrow if they would put that fifteen percent. So we are very more cautious because we know, we certainly know that in the world you will find all different types of people and it is not very easy to monitor these types of things. But yes we are concerned. It can create a black eye for Belize. It is now one of the best in the world, moving faster than most of the world today. There are many things that can keep you back if you are not cautious in what you are doing. But we are very concerned as a government about that.”
Hipolito Novelo
“Cabinet has discussed the matter?”
Manuel Heredia Jr.
“Yes. I believe that the Prime Minister was suppose to have done a press conference or is about to do a press conference I think this week as in regards what Central Bank is doing, what government is doing. I am sure he will have a press conference shortly to tell the Belizean people where we are, what we are doing and what we think should be done.”
