Spanish fugitive laundered hundreds of US$ millions in Dominican real estate
DominicanToday.com - Twenty real estate properties including lots, luxury villas, shopping plazas, residences and apartments were seized from the Spaniard Ricardo Diez Conde, who also went under the name Rubén Ramos Ortega, linked to an international network  of narcotics traffickers that used the country to launder hundreds of millions of dollars.

 

Spain’s National Court judge Baltasar Garzon had requested the confiscation of the fugitive’s properties, in the Uvero Alto tourist zone, Higüey (east), including a villa located in parcel no. 65-A-24, Salado, with 2,094 square meters, within the project Tortuga Bay, and Parcel 67-B-181, Cadastral District No.11-3ra, with 12,577 square meters, as well as stores in the plaza Coral Park.

Also seized was a Cessna 402B airplane, located in El Higüero Airport, Santo Domingo.

Garzón’s request affirms that Conde, who had a Venezuelan passport with the name Rubén Ramos Ortega, is also known as "El Emigrante," and whose organization tried to ship cocaine to Spain from some point in South America and later laundered the proceeds.

The Spanish judge says several taped conversations confirmed that Diez Conde and one Eduardo Salazar Molina had bought real estate properties in the Dominican Republic,.

The local authorities are keeping Garzón abreast of interrogations conducted on Colombian, Venezuelan, Spanish, Italian and Dutch investors linked to the alleged Spanish narcotics trafficker.

 

Note from Dominican Watchdog Nov 26, 2010 - One Year after!!

The biggest problem is that the seizure of apartments from many of these projects has left buyers stranded because they were sold to small investors from around the world. Las Dunas is one of these projects were apartments was almost finished and now the foreign buyers from around the world stands to lose everything as nothing has happend a year after the peoject was seized.


Dominican Watchdog has been contacted by more than 20 buyers who don't know where to turn and what to do next...... Looks like the government once again didn't care about consumer protecting and didn't spend five minutes investigating how to protect the international buyers!! The damage to the Dominican real estate market is serious and will scare future buyers away from buying a vacation home under such conditions.

Don't buy property in the Dominican Republic without title guarantee!!! Use Stewart, an American title guarantee company in the Dominican Republic.

 

 

Go back | Date: 27 Nov 2010
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