Ricardo Miranda Miret to see judge in Madrid, Chinese financing probably hot happening!

The huge class A lawsuit against Ricardo Mirand from angry investors in his Punta Perla fantasy project has been FORMALLY ACCEPTED by the judge and Ricardo Miranda Miret is summoned to attend to the Courts of Madrid to declare in front of the judge on the 19th October 2011.

After Miranda meets the judge we will know if the criminal case against him for fraud  will proceed. My guess is it will unless he makes an immediately cash settlement of around USD 60 million with Ollie’s investor group.

Will we see the Trio HAND in HAND again? President Leonel Fernandez and HRH Prince Albert of Monaco will probably do everything possible not to go to court in Madrid. Read here: The court has been asked to summon them as well for there active role in promoting Punta Perla.

Resent information from the non-public Punta Perla investor forum run by Ben Potter shows a conference call btw the investors disclosing that there might not be any Chinese financing coming to Punta Perla. Miranda could not attend this conference call because his mother was sick(I could’t stop laughing when I read that, not only will he not meet any investors, now he will not ever take a long distance conference call, petty on you Miranda!).

Before writing this news update both Alex Rood and Ben Potter was contacted and offered to respond on the Chinese financing situation, however we have not heard a word in regards to that, Alex Rood has just ignored our emails.

Dominican Watchdog has always been against Ben Potter’s forum as it tried hide the truth about the project which means new buyers accidentally could be sucked into the “ATLANTIS”. I will go as far as to say that Miranda’s poppet show: Ben Potter, Mark Andrew or what ever Earth company he runs and Alex Rood have been tranquilizing angry investors with hot air and BS for the last year. Nothing has happened, all deadlines has been passed and finally it seems like the Chinese institutional investors are not so stupid after all.

If the criminal lawsuit moves forward, I guess we can all kiss Punta Perla goodbye since his other developments are already stone dead and there is more lawsuits coming from the Estapona Golf and Marina investors. Promoters and real estate agents(even the crooked ones) has stopped selling Punta Perla after Dominican Watchdog tracked them down and told them to inform potential clients about ongoing legal issues and to place funds on escrow. Simple consumer protection was needed to stop Miranda from ripping off more people.

3 simple things that made Punta Perla the greatest joke of the Caribbean!

1. They have opened and closed more websites than any other developer in DR and they lost their domain puntaperla.com, moreover there is not a phone number on the website to call should a potential buyer want to hear about Star Island -:), not to forget all the angry investors who would like to reach Miranda directly.

2. During 5 years the “Great developer” Ricardo Miranda has not managed to build as much as a sales office on the land despite all the millions he has taken. He claims on the PP website to have build many fine projects, there is not a link to one of them! But there are plenty of stories on the internet about all the developments Ricardo Miranda has NOT finished!

3. Miranda, never been available to meet the small investors face to face, tried to use HRH Prince Albert of Monaco and President Leonel Fernandez to promote and kick off the sale of Punta Perla, but that failed after Dominican Watchdog started to dick into the facts and sent off the first letter to the Royal Palace in Monaco almost two years ago!

However one big question still remains….. Where is all the money from the small investors and how did Ricardo split them?  Maybe the judge in Madrid will soon be able to in-light us on that, so come back for more updates.