Punta Perla - More questions than answers plus a few hard facts!

Dear Mr Andrew of Emerging Earth Ltd

 

In response to your Sunny Comforts Punta Perla Update February 2 2010.

 

Thank you for your letter giving an update to over 400 affected investors in the UK, USA & Canada. I value the fact you have taken time with the developer to relay such fantastic news with hard evidence. But please forgive me if this posting is a little sceptical.

 

As you clearly say neither Nick nor yourself are lawyers & your statement is purely opinion. I have had a look at your background to see how qualified you are to give an opinion on such an important matter & I am staggered at the findings: -

 

-         You were a salesman in the telecommunications industry.

-         You operated as an Ocean View franchisee

-         You set up a company selling property at Capcana in the Dominican Republic. A project sourced by Ricardo Miranda  & Sean Woodhall & made available for sale in the UK with 15% guaranteed rental return.

-          Hundreds of properties were sold & you were due in excess of $3m in commission. Something then went wrong with the site so Sean Woodhall put pressure on Ricardo Miranda to source alternative stock. This was how the Punta Perla site was born.

-         A company Punta Perla Sales was established by Sean Woodhall & Mark Lynne to market Punta Perla .You still maintained your separate sales company & switched clients from Capcana to Punta Perla.

-         You then took over Punta Perla Sales from Mark Lynne & became the UK face of this development. The Company is now in liquidation.

-         You have made in excess of 400 sales @ $40,000 commission per sale, a total of $1.6m!

 

SO WHEN YOU GIVE YOUR OPINION AS TO THE VIABILITY OF A SITE IT IS WORTHLESS. It is only the self-interest of a salesman keeping his clients happy & in turn protecting his commission.

 

You stated in your last communication, when the developer threatened criminal action against anyone questioning or bringing the development into disrepute, that you had asked the developer over 90 questions & you were waiting for a response. We have had no response to date.

 

The lawyer Marco Herrera who worked for the law firm that was contracted to Ricardo Miranda will offer no fact towards the question of what land is owned by Paraiso Tropical.

 

No one is accusing the developer of running off with the money. We just want to establish what land he owns & whether he has intentionally misled us, as clients, through agents to buy property where he does not own the land.

 

Prince Albert  of Monaco was introduced through Mark Tout a friend of the Prince. Mark Tout was paid a fee of €50,000 to secure the Princes interest. The government of the Dominican Republic offered the Princes foundation an island lying off the DR coast. The Princes foundation was to look after this island & Ricardo Miranda would provide funding. To date this has not happened & the Prince is not supporting the project & there is no proof to the contrary.

 

The rest of the letter Mr Andrew is just full of positive spin. The key questions that need answering: -

 

  1. An independent lawyer to verify land ownership of the Punta Perla project i.e. cadastral plan
  2. Proof of funding in place for the whole development bearing in mind its size
  3. When you refer to the developer not running off with our money he has clearly used our money to purchase land owned by ParaisoTropical.We require a charging order over this land to secure our investment.
  4. There seems to be some questions over Ricardo Miranda’s past business dealings. He has a trail of 17 previous companies all in liquidation. He has no assets. Looking at the forums on Marbella Law & Eye on Spain there are 2 developments not happening, Estepona Beach & Country Club & Tafedna Bay. Is he just leaving clients on these sites high & dry & washing his hands of all responsibility? This is not the action of an honest & trustworthy & financially stable developer. Whilst it is great news that construction of the Beach Club &v Boutique Hotel has begun it is a far cry from the construction of the development.
  5. Do you Mr Andrew have proof that he has the financial ability to complete this site .No one wants to harm the development everyone wants it to succeed. But filling clients with happy spin is not the answer we just want the truth.

 

So back to the crux of the problem…

 

WHAT LAND DOES PARAISO TROPICAL OWN

 

HAS RICARDO MIRANDA SOLD US PROPERTY ON LAND HE DOES NOT OWN.IF SO THAT WOULD BE A FRAUDULENT ACT AND THEREFORE WE WOULD BE ENTITLED TO OUR MONEY BACK HAVING BEEN MISSOLD TO.

 

Answers & more importantly proof please -

You can follow Paul other unhappy investors on singingPig forum here

 

 

Additional questions and concerns from Dominican Watchdog:

 

Pls lets see copies of the titles and a full plan for the project ASAP.

 

Pls lets see all the payments from buyers secured on escrow accounts NOW!!

 

Pls lets get a sales office opened on the property, for 4 years the sales has operated most unfortunate in regards to consumer protection and some sales groups has been involved in other projects by Ricardo Miranda that has never been done.

 

Pls lets see the developer and CEO Mr Ricardo MIranda on location to handle his development like the CEO and developer of other projects in the Dominican Republic.

 

Pls lets see project financing, golf courses and marina work undertaken, this is expensive work and not just about building a small beach club after the investors blow up storm against the extremely delayed "development"

 

Pls lets see proof of the relocation of all the buyers with houses and apartment that got lost during the "redesign" of PP.

 

Pls lets see proof of the 70% guaranteed finance from a respected bank, otherwise most buyers will not be able to take over their vacation properties(should it ever be build)

 

Pls lets see contracts signed with tour operators to confirm the rental income is guaranteed as promised to buyers, because without these contracts many buyers will not be able to pay off the 70% mortgage.

 

This was just a few additional questions to Ricardo Miranda, but as a personal note I like to add that Cap Cana has done the hard work and finished 200 of the 500 slips in their Mega Marina project, but the marina is 89% EMPTY!!! So thinking that banks are ready to finance a new mega marina 30 miles away when even RocoKi (20 miles away) has problems with their marina project puts this in an interesting and difficult perspective.

 

Trying to get investors into a "secret forum" set up by Ben is not the way forward for Punta Perla. The problems must be faced and fixed to give confidence to the development. Hiding behind passwords or in Madrid is unacceptable to new and old buyers.

 

Dominican Watchdog again again strongly advice that nobody invest in Punta Perla before title guarantee has been established with www.Stewartdr.com like it has been done in Cap Cana and RocoKi.

 

Now is the time for Ricardo Miranda to address all the questions once and for all in public!

 

 

Read also: Is Punta Perla one big scam?

Go back | Date: 30 Apr 2010
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