“Dirty” Judge Removed in Madrid, Case Finally Moving Forward, Greater Chance for UK Investors To Recover Money

punta perlaFinally some good news to the defrauded investors in Punta Perla!!! After the “dirty” judge in Madrid was removed, then new judge called and heard both Ricardo Miranda and OVP in the court last month. He will call more people and seems to take the fraud case against Miranda, who never build as much as a sand castle in his whole life, very serious!

At the same time Dominican Watchdog has been contacted by defrauded investors who have won civil suits against Miranda and OVP. They have asked me to publish possible help for UK and Northern Ireland investors to recover parts of their lost investments through The Government Controlled Financial Services Compensation Scheme in UK

Possible Option for some to try to retrieve some of their deposits:

There may be another route that many of you based in UK and Ireland who bought in Punta Perla may be interested in , especially if you borrowed against your home i.e. remortgaged or used pension funds, etc to fund your deposits in the UK or Ireland.

Recently a guy from N.Ireland who bought in Punta perla and couldn’t afford to join any of the ongoing legal cases, as he couldn’t afford to shell out any more money, contacted Ollie and a few others with news of another option which over 40 investors in our group are pursuing at the minute in parallel with our case in Madrid.
He had a UK based Mortgage claims firm look into his case and it turned out that this firm had already represented a lady in a case against her introducers. This lady won a test case against the indemnity insurance of her introducers and because of this victory a precedent has been set for any future claims. Ie any of us who wants to make a claim

Here is part of the email sent from the firm explaining the case to us –

– Simon Green formerly of CAG Europe and now heading our legal action partner, Fountain Templar, has referred us to you and fellow investment victims.
We are now working with Simon to help victims of Ocean View Properties achieve some redress for their Spanish property investment losses.
We can do this now because of a major decision in the High Court where a final appeal was heard and the decision made in favour of the claimant. It involved a couple who were advised to obtain equity release from their home to invest in off plan Spanish property which went into liquidation leaving them with the debt and no way of repaying it. The 3 High Court appeal judges said that it was the improper advice and not its use which transgressed the law. That made in this case, the broker, his brokerage, their professional indemnity insurer and finally, as these parties no longer existed, the Financial Services Compensation Scheme liable to make good some or all of the losses. Unfortunately, the FSCS has a limit to pay compensation of £48,000.
We are now using this precedence to make claims in the UK for offshore investment losses where the funds were obtained through UK brokers and lenders making such borrowing subject to UK financial services laws.
There will be no up-front charge or direct costs to you as we and our legal partners are taking all cases of this kind on a no win no fee basis. That means the least you will get is 70% (with our success fee being 25% plus 5% VAT) of what we achieve in full and final settlement. We do not expect to get all your money back because there are statutory limits however, depending on whether it is the broker, the lender, the FSCS or the FoS deciding against the lender, we should help get a considerable amount back for you.
Please advise if this is of interest and if so how we can contact you by phone and in writing, especially your current address so that we can write to you with claims documentation.
Simon, my colleagues and I are available to talk about this at any time convenient to you.
Thanks and all the best
Kind Regards

Ben Parslow

The Mortgage Claims Bureau
> Direct Line: 01903 868251
> Phone: 0800 068 8402
> Email: ben@theclaimsbureau.co.uk

Just last week they sent a group of 5 representatives over to Ireland to meet over 40 of our group, over a three day period, to let everyone know about this other possible way to try and retrieve some of our money. The 40 plus investors who met them were very impressed by their plans and the whole process seems pretty straight forward.

The main thing for everyone was there are no up front fees , it is a completely no win ,no fee claim. They will only make money from the fee they charge at the end ie 25% plus 5% vat. Seems a big fee on their behalf but if any of us thought we could get 70% of our money back soon without having to pay anything out initially , we’d take their arm and all.
The main guy was called Micheal Coyne who basically said that anyone who was introduced by a broker / brokerage etc and was encouraged to take extra finance to cover their deposit would simply have to send them the details of who introduced them and where they got their finance from either mortgage, pension fund etc. and from this info they would proceed with the claim. Unlike our ongoing cases the claims would be settled between 6 months to a year at most.

This option is also available to any Uk investors in Punta Perla or any other development and it doesn’t matter who the introducer was ie doesn’t have to be OVP.

It was explained to our group that this claim in no way effects our current cases in Madrid and DR.

Micheal Coyne is aware that there is a large group of UK based investors who are Punta Perla investors and has already taken on a number of cases . He basically said that his firm could arrange to meet groups anywhere in the UK if they wanted to hear their plans He emailed us some background info to share with others who might be interested – see below

From the meetings it seems that these guys were fairly confident of success for many people.

Hopefully this option might help some people retrieve something back .

The best thing for anyone who feels they might have a claim is to contact these guys yourselves and then you ll be in a better position to know whether you might have a case.

Good luck

Contact details for Micheal Coyne are – or Ben Pardslow above

Michael Coyne
The Mortgage Claims Bureau Ltd

Direct Line 0203 2901 2747
Mobile 0780 1343627
Email: Michael@TheClaimsBureau.co.uk

Background Information

Can people claim themselves?
The potential loss for some of the brokers and networks is huge, and none of them will be queuing up to give that money back. We already have 8 claims on file where people have tried to do it themselves and failed. Worse still, most of them have negated their own claims by what they have said or written.

So, yes people can do it themselves. But putting in a claim against the wrong company could be the difference between a £50,000 payout and a £150,000 payout.

Most of these (big) companies treat any complaint from the general public with disregard. As a claims management company they realise they have to respond to us. A law firm has even more sway.

The FSCS were ordered in the High Court to pay out on the landmark case and they are not best pleased. It’s essential that FSCS applications have to be accurate and legally correct.

However, some people will want to claim themselves regardless of what anyone tells them.

The key legislation from the recent case was that the woman, whose case started it all – Charmaine Emptage- started with a small repayment mortgage that was switched to a large interest only mortgage for the express reason of investing in an off-plan Spanish Property. The closer we can get to that scenario the better.

Once we have all the paperwork in we request documents from the lender regarding the sale of the mortgage. The lender has a statutory 40 days to respond. But we can’t go back again unless they fail to deliver the specific documents we have asked for.

It takes about a week to 10 days to compile the claim – longer if we consult a barrister for the more complicated cases.

The company has to send us a final decision on the claim within 8 weeks.

If we have to go to FoS this can take a further 6 months.
The FSCS ‘seek’ to complete their investigations within 6 months. This is the way it used to be with PPI claims, but now they are down to 2 months.

The Financial Services Compensation Scheme was set up as a safety net for individuals claiming against regulated companies in the financial world who have gone bust. They have a big pot of money (far bigger than we could use up) collected from the Government and the banking/insurance industry.

They pay out a maximum of £50,000 per person per firm claimed against. So, up to £100,000 for a couple can be awarded.

We have already come across a couple who joined forces with a friend to buy a Punta Perla property. They arranged their mortgage and he arranged his. Each of them could get a maximum of £50,000 back.

The Financial Ombudsman Service can be asked to adjudicate when a claim is turned down by a company still trading. They have the power to order a company to pay up to £150,000 in compensation. Many OVP claims will be in excess of this so firms may opt to turn down the claim and wait for FoS to order them to pay the lesser amount.

Read More: Dominican Republic like to hide the fact, that foreign investors defrauded for more than a Billion dollars in Punta Cana area real estate

Joseph Mitchell and the Chinese deal papers – Probably last chance to get a copy!

Punta Perla and the Chinese Deal

PuntaPerla.com is again down from the internet and it will be interesting to see what content will be on that next time? Those who didn’t manage to download copies of the Chinese deal papers before PuntaPerla.com went into “maintenance mode” can find them on another location set up by “Joseph Mitchell” – please visit: http://puntaperlacaribbean.com/doc – click on docs.zip to download and save them one by one before this location is closed too.

There will come a moment when these papers should be forwarded to the Chinese Embassy in Washington and London, because Dominican Watchdog is currently working on clarification of issues related to information received from “Joseph Mitchell” about Punta Perla and RM. We have sent an email with several questions to Alex Rood as it looks like he is the new head of communication on behalf of Ricardo Miranda(who will soon be very busy when the angry Irish investors headed by Ollie Reel submit their criminal case to the court in Madrid next week).

It’s perfectly clear that “Joseph Mitchell”  is not a private detective as first presumed, but a whistle-blower who is/was very close to Ricardo Miranda. Dominican Watchdog is not aware of the identity of the whistle-blower but we have several hours of very interesting conversation with him/her on skype and the person had extremely deep knowledge about everything around RM,even personal issues incl a story about the killing of a young boy by his ex bodygard/driver outside a discotheque in Madrid.

Dominican Watchdog has been contacted several times by “Joseph Mitchell” and asked to publish a lot of documents. However without knowing who “Joseph Mitchell” is and how he/she obtained the documents we denied to do so, because we have too often linked to sources that has later been altered or removed after pressure form certain groups within the Dominican Republic. And exactly the same happened now again with puntaperla.com(DW however have screen dumps of all the articles on the PP domain from “Joseph Mitchell” and will probably publish them one day if there should be a need to do so).

Dominican Watchdog has no interest in being involved in the personal problems between “Joseph Mitchell” and Ricardo Miranda. Therefore we will not publish any of the documents we have received from “Joseph Mitchell”. However we have contacted “Joseph Mitchell” several weeks ago and informed him to post the documents on www.The-Dominican-Republic.org if he is really serious about having a voice and letting investors know the truth.  We however feel “Joseph Mitchell” is rethinking his/her strategy…..

I believe I can speak for everybody when I say, that we are all very tired of Punta Perla .com, .org. com.do domains opening, closing and changing content on a monthly basis! Lately none of the domains had a telephone number, contact person or address where the CEO could be met. These useless US$ 500 websites are promoted by people like Mark and Alex who are all in Ricardo Miranda pocket’s. However Ricardo Miranda himself have not dared to met with any of his investors for years, to look them in the eyes, and tell them the truth about what happened to their money in Spain, Morocco and Dominican Republic.

Dominican Watchdog is not aware of any other development of that size where is has not been possible to meet the developer!! There is no doubt that Punta Perla is among the most unprofessional projects ever launched in the Dominican Republic. Atlantico in Luperon was another white elephant where over US$100 million from investors was lost!! And Canadian investors lost US$ 160 million when dealing with the former Dominican tourist minister. Victor Cabral got only 12 months house arrest for ripping of these investors, and believe me that he was not alone, but nothing happened to the rest of the gang who shared the money!!!

DominicanWatchdog.org and our forum The-Dominican-Republic.org has never been down or in “maintenance mode” – we are running mirror servers with hourly back-up to ensure our readers have access to all the important news about the Dominican Republic. To boost our ranking on all search engines we run several blogs(like this one), specific sub domains, twitter and facebook. Dominican Watchdog had over 14,000 pages views last month, visitors from 150 countries and 1050 friends on facebook. Power to the internet and free media – the truth will prevail, join us on facebook today!

The China investor can’t change the PP history and current market situation

Legal opinion Punta Perla, Ricardo Miranda(article updated Oct 16, 2010) After many  years of undocumented newsletters full of empty words from Eva Sotres in Punta Perla investor department, this great day of truth and real facts has finally arrived.

Pellerano & Herrera, by far biggest and most respected law firm in the Dominican Republic has issued their legal opinion to a group of angry investors in Punta Perla. And you should contact Ollie Reel who is heading this investors group to join in. You will find his email address on the top of the Paraiso Tropical/Punta Perla legal opinion.

The legal opinion can be viewed and downloaded for free from www.RicardoMirandaMiret.com and www.AlexRood.com

Before I write more about the facts in this legal opinion, I like to make it clear that Ricardo Miranda Miret and his Poppet Show will probably come up with a lot of excuses or statements to place doubt in peoples minds,  so will other idiots under anonymous names in singingpig or belegal.com.  All this “Noise” is only done to try to derail and prevent a legal attack on Paraiso Tropical SA, Ricardo Miranda Miret and the rest of the board members in various countries.

All these promoters have never been able to attach a single fact or document to the spin they wrote to keep sales going! Sadly for many investors the private Ben Potter forum is not much better, its also full of useless spin with no documented facts! Most of this spin is supplied by Ricardo Miranda’s favorite poppet Mark Andrews(more about him later in this article).

At no given time during the last year has all the small and angry investors in Punta Perla been able to see or meet with Ricardo Miranda Miret despite the fact that many of them have taken the long journey to Madrid. At no given time during the last years newsletters has there been a personal statement from Ricardo Miranda Miret including a photo of him! At no given time during the last year has Punta Perla come forward with proof to the the spin they wrote. It has all been empty words, redesigned projects and opened and closed websites and sales companies! And there are hundreds of non legalized contracts out there waiting for a solution to this problems, because in the past five years nothing of value to these investors has been constructed by Ricardo Miranda in Punta Perla or any of his other fantasy developments in Spain and Morocco! Where are all these unsecured deposits today? Millions of Euro gone missing….

Punta Perla’s main problems:

1. There is no 10,000,000 m2 land in the name of Paraiso Tropical SA

2. There are lots of liens and ownership problems on the small Punta Perla land parcel.

Mark Andrews claims to have seen a land evaluation of 2 Billion Dollars from the National Bank of The Dominican Republic. That my dear friends doesn’t exist due to the above facts!

Mark Andrews has claimed to have seen a clean title with 10 million square meter land for the Punta Perla development. That my dear friends doesn’t exist either due to the above facts!

The legal opinion contradicts every post done by Mark Andrews, and now is the time to be worried!

Furthermore what this legal opinion doesn’t state is, that part of the Punta Perla apartments sold to investors might actually be located on land NOT belonging to Paraiso Tropical SA. A special group of people are currently working hard on mapping the exact development and its location onto the exact land parcels in the area. If this group manage to prove that they where sold apartments on land not belonging to Paraiso Tropical SA, then its all a simple case of fraud and Ricardo Miranda and his gang will soon end up where they belong, long time before all the cases of fraud from Spain and Morocco comes into motion!

Before anybody starts to discredit the law firm that did the legal opinion, there is a few facts from their website:

“Pellerano & Herrera the largest law firm in the Dominican Republic” by Marcasur, March 2010

“Most admired law firm of 2009 in the Dominican Republic” by the Mercado Magazine, February 2010

“Private Equity Deal of the Year Award 2009” from the IFLR, March 2009

Winner of “Chambers Latin America Awards for Excellence 2009: Dominican Republic Law Firm of the Year”, November 2009

The show must go on, the President of the Dominican Republic, Leonel Fernandez and HRH Prince Albert of Monaco has not yet issued a statement that they are no longer supporting Punta Perla,and now a China connection has been added, herein lays the Illusion !!

Dominican Watchdog’s investigation and articles about Punta Perla and Ricardo Miranda Miret can be found here: Is Punta Perla One Big Scam? Where is the money….?


Do not get fooled by the cancellation of the arrest warrant, that was a technicality due to the time frame that applies to foreigners and not Dominicans to come in front of a judge. The case against Paraiso Tropical SA and Ricardo Miranda Miret over the land deal is real, and will move forward despite this small clever move from RM’s lawyers. However due to the corrupted legal system in the Dominican Republic and the fact the President is involved, it will be impossible to determine the outcome, therefore the law firm didn’t comment on that case, but moved to the fact of starting a criminal case against Ricardo Miranda Miret!

Even with a large scale investor from China there is no guarantee that Punta Perla will ever be a commercial success for the small investors due to the following facts: Not a single property has been sold to any rich and important local family in the Dominican Republic. Howeveer these families have invested heavily into famous resort developments nearby which are now in trouble too. Investors in Cap Cana are not able to resell their units and the project is a ghost town today despite Billions of dollars invested. Roco Ki (partly backed by one of richest and most powerful Dominican families Vicini Group) has fired most employees and closed sales operations. Both Cap Cana and Roco Ki are located only a few miles from Punta Perla! So even with China money the future for Punta Perla doesn’t look good.

Barbara Woodham Says:
September 9, 2010 at 4:48 pm e

I have invested in the punta perla site. I bought it from Mark Andrews of Punta Perla Sales in the UK. I now find that this company has gone into liquidation along with Punta Perla Carribean where my money was transferred to. I have been in touch with a UK solicitor and would appreciate any information that you can send me.
Anyone else who have invested and who is as frustrated as me with the lack of Information from Eva Sortes can contact me on my email – Bewoodsy5@yahoo.co.uk