The accused of defrauding about 100 Irish families says he had no relationship with clients

Who is financing Ricardo's lifestyle today?, the investors he never met.....

Who is financing Ricardo's lifestyle today?, the investors he never met.....

Nothing interesting happened in the court room in Madrid on December 21,2011.

Like Dominican Watchdog wrote one year ago, then the reason Ricardo Miranda will not meet with investors is because he will say “I never did that” or “I never signed that” and “I have never met that person in my life!” and that’s exactly what happened in Madrid he said I never had a relationship with customers, either physically or in writing”

Ricardo simply told the judge that he had never met any of his investors! That he is as clean as snow….. and that a piece of land was used as guarantee towards investors. The judge told Ricardo to bring documentation, so let’s see what happens next…..

Dominican Watchdog has only two comments:

Who is financing Ricardo’s lifestyle today? All the investors he never met….?

The land placed as guarantee is not worth 10% in today’s market. Roco Ki has closed their doors and Cap Cana will probably soon follow! There simply is no interest in over priced resort developments in Dominican Republic. These buyers like  more developed places like St. Barts or Barbados….


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, 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.

Looks like somebody hired a private detective to investigate the activities of Ricardo Miranda and the Punta Perla back office operations

Esteemed clients,

As I have received many requests for more information regarding who I am and how I obtained email addresses, everyone deserves the same response.  I have been hired to investigate the current situation of the Real Estate Development, Punta Perla.  My client purchased on the development in 2007.  As there has been no continuous flow of information from the Developer, nor advance made in construction, the decision was made to investigate formally.  Email addresses were obtained as part of the investigation to maintain all interested parties informed.  Those who do not wish to receive information will be removed from the list upon request.  Individuals that respond in an obscene or unprofessional manner will also be removed.

In addition to looking into ownership of the land, I have been to Madrid to observe the daily activities in the office. Limited individuals are seen entering the office on the fourth floor of Glorieta de Ruben Dario 3.  The doorman refers to the occupying tenant as GCP, SA.  Telephone calls are not answered and the door seemingly ignored.  Speaking with one employee for economic compensation, it was learned that GCP, SA acts as a parent company for the Punta Perla project, employing the few local employees in Madrid, the majority of whom have departed the company with money owed to them, including Eva Sotres.  It was also confirmed that Ricardo Miranda at that moment was in the Dominican Republic.   Names and telephones of additional former employees acquired.  Contact was made with these employees in Madrid. They have provided valuable information that is in the process of being confirmed.  Others present in the building mentioned that GCP was being evicted by the owner for failure to pay rent for over 4 months.

There is a team investigating in the Dominican Republic where there appears to be similar issues and serious problems with employees.  Additionally, there appears to be serious doubt as to the land ownership, which above all will be very important in regards to the situation of the investors.


Joseph Mitchell


Updated, December 02, 2010


Esteemed clients,

I am sorry I am unable to respond to each of you individually, yet I would like to make a couple more observations based on emails I have received.  My client does not desire to be known as the individual who instigated this investigation; what is desired is that after so many years of being uninformed, those who desire to receive updates, are regularly made aware of information discovered.  For the good of the investigation, it is best that particular details remain confidential at the moment.

With that and for the lack of any other relevant confirmed information at the moment, all I can report is that there will be a case being heard today, December 2, 2010, for the eviction of Mr. Miranda from his home due to failure to pay.  As more information resulting from the investigations being carried out in Spain and the Dominican Republic is verified, all will be duly informed of the findings.


Joseph Mitchell