In connection to the land escrow guarantee to previous investors at Punta Perla. Dominican Watchdog sent several questions to MARCOS JOSE TRONCOSO at Las American Title Service A.K.A. CTRD ESCROW SERVICES INC reg. in Panama.
Now 6 weeks later despite several follow up emails we have not got answers to the important questions below and must now warn all property buyers against using LAS AMERICAS TITLE SERVICES as their operation in our opinion is not safe!
Here is the email of March 20th, 2011 sent to Marcos and Alex Rood including several lawyers:
Dear Marcos,
I have visited your website to collect information, I have also visited the Panamanian company register as you can see below.
I have received the Punta Perla title guarantee from your company for my comments to investors and have the following questions:
1. How come the the document is not Notarized and the reg number of the company not listed on the letterhead?
2. What title are you talking about in your letter? I see no references nor title certificate and registration numbers anywhere!
3. Why is a copy of the valuation of the land not attached to the letter for investors to see?
4. Why is a copy of that extremely valuable title not forwarded to investors together with a land plan?
5. Have you checked that there is no liens or loans on that land? Where is that certification and when was it done?
6. How come that this USD 98,100,000.00 land parcel is held in escrow by a unknown Panamanian offshore company with a maximum authorized capital of USD 10,000* Pls note that Authorized and PAID IN capital is not the SAME!! What is the paid in capital of CTRD Escrow Services INC ? USD 100 *One Hundred dollars?
7. Please explain to me how Commonwealth Land Title Insurance Company and Chicago Title are connected to you and this transaction* expect me to contact them for verification of your answers and activities since their name and reputation is on the line here.
8. How do you plan to indemnify those investors if there is problems with the title and they sue you since CTRD Escrow Services INC have little to no capital according to the extract from the Panamanian register below?
9. Can you please clarify the 80% rule in your guarantee. 80% of the total project? 80% of phase 1 or 80% of the houses of those investors who accept this offer? Does the 80% involve the Marina and the first golf course? If Yes is it then 80% of the marina and 80% of the golf course which has to be finished too?
Sorry if I seems a little harsh in the questions, but we are playing with big numbers here and something don’t add up for me, however I’m sure you have a good explanation and I will be happy to send that off to investors and add it to my website.
|
No. de Ficha: |
617247 |
No. Documento: |
1350663 |
|
Nombre de la Sociedad: |
| CTRD ESCROW SERVICES INC. |
| Tomo: | 0 | Folio: | 0 | Asiento: | 0 |
| Fecha de Registro: | 23-05-2008 | Status: | VIGENTE |
| No. de Escritura: | 12210 | Fecha de Escritura: | 20-05-2008 |
| Notaria: |
1 |
NOTARIA PRIMERA DEL CIRCUITO |
| Provincia Notaria: | PANAMA |
| Duración: | PERPETUA | Domicilio: | PANAMA |
| Status de la Prenda: | (DEF-DEFINITIVA, PRE-PRELIMINAR) |
|
Datos de 1a. Tasa Única |
| Boleta: | 1266424 | Fecha de Pago: | 21-05-2008 |
| Agente Residente: | MOLINO & MULINO |
|
Datos del Diario |
| Tomo: | 2008 | Asiento: | 94728 |
|
Datos de Microfilmación |
| Rollo: | 0 | Imagen: | 0 |
| Moneda: | DOLARES AMERICANOS. |
| Monto de Capital: | 10,000.00 |
|
Capital |
| EL MONTO DEL CAPITAL SOCIAL AUTORIZADO SERA DE DIEZ MIL DOLARES |
| DIVIDIDO EN CIEN ACCIONES COMUNES CON UN VALOR NOMINAL DE CIEN DOLARES |
| CADA UNA. |
|
Representante Legal |
| EL PRESIDENTE O EN SU DEFECTO LA PERSONA QUE DESIGNE LA JUNTA DIRECTIVA. |
| Título del Dignatario | Nombre del Dignatario |
| PRESIDENTE | CTRD SERVICES S.A. |
| TESORERO | PASTORA BERMUDEZ DE TRONCOSO |
| SECRETARIO | MARCOS JOSE TRONCOSO |
|
Nombre de los Directores |
| CTRD SERVICES S.A. |
| MARCOS JOSE TRONCOSO |
| PASTORA BERMUDEZ DE TRONCOSO |
|
Nombre de los Suscriptores |
| LEONEL MARQUEZ |
| NILO SANTOS |
