Belize’s Economy Benefited from Sanctuary Bay Scam

Tracy Taegar-Panton

Millions of dollars were scammed from persons who invested heavily in securing a prime parcel of land in Sanctuary Bay, by a convict carrying out the operation from behind bars in a U.S. prison. Unsuspecting investors were shown pictures of various developments purportedly occurring within the gated community in southern Belize. So is it a case of G.O.B. enjoying an influx of money that they turned a blind eye to the investor?

Tracy Taegar-Panton, Minister of State, Economic Development

“Not all investors come through the official process. Not all investors come to BELTRAIDE for vetting or to the FIU for vetting those are the systems that we are trying to strengthen as we speak. And in the initial years of Sanctuary Bay, as I understand it, there was money moving in the economy, things seem to be happening, so there were no red flags so to speak to create what we see now. But I can assure you that we will do everything that we humanly can to ensure that these investors are properly screened so that we can avoid this kind of situation in the future.”