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Re: Puerto Azul Development [Re: Marty] #520957
01/17/17 07:27 AM
01/17/17 07:27 AM
Joined: Oct 1999
Posts: 65,267
oregon, spr
Marty Offline OP

Marty  Offline OP

Development leader of Puerto Azul involved in major Ponzi Scheme

Puerto Azul, the proposed multi-million dollar tourism development within the Lighthouse Reef Atoll, has turned out to be nothing more than a ponzi scheme. On Tuesday, January 17th, media houses from Switzerland reported that Domenico Giannini, the man behind Puerto Azul, and Fabio La Rosa, had been arrested by financial police. According to reports, both men have extorted money from over 200 private investors under the name of the luxury development, Puerto Azul.

The arrest warrant was issued by the financiers of the Provincial Command of Varese against seven persons. Five were sent to prison while two remained under house arrest. Both Giannini and La Rosa were among those sent to prison. During the arrest, officers also confiscated over 18 million Euros in assets (26 properties, 27 land shares of 10 companies, 6 cars and 18 bank accounts). Over 20 searches were performed between the accused parties’ offices in Italy and Switzerland.

“The surveys, conducted by the military of the Tax Police of Varese under the direction of the Public Prosecutor of Busto Arsizio, with the coordination of the Deputy Public Prosecutor, Luigi Furno, have enabled, after a year of complex investigations, to unravel an international criminal organization, with bases in Italy, Luxembourg, Switzerland, the Caribbean and London , and dedicated to serious fraud, embezzlement, illegal financial and banking activities, abusive saving collection, obstructing supervisory functions, recycling information, self-laundering, falsification of documents, and impersonation,” stated La Provincia di Varese, a Swiss media house.

Swiss media house, Varese News reported that “they sold to unsuspecting citizens a dream project for the construction of a hotel complex of extra luxury “8 stars”, known as “Puerto Azul”. Investors had been made to believe that it was a luxurious resort to be built in a Caribbean atoll, off the coast of Belize.” Apparently the development was nothing more than a farce, as the entire project was just a means to commit fraud and embezzlement.

Reports are that even Hollywood stars who invested in the Puerto Azul development were caught up in the fraud. Celebrity investors like John Travolta and Andrea Bocelli were completely unaware of Giannini and La Rosa’s real plans, and were even used to promote the Puerto Azul concept. “The method employed by the association included the signing of contracts and artificial simulators (example of “real time sharing”), created in order to ensnare customers and induce investment , through transfers made on “bank accounts”, interposed between accounts of the organization (located in Switzerland, Luxembourg and Belize) and customer accounts, starting with the primary purpose of evading the supervision of credit institutions over its promoter’s mandated and customers portfolio location,” indicated La Provincia di Varese in their report.

Click here to read the rest of the article and see more photos in the San Pedro Sun

Re: Puerto Azul Development [Re: Marty] #521232
01/28/17 12:07 AM
01/28/17 12:07 AM
Joined: Oct 1999
Posts: 65,267
oregon, spr
Marty Offline OP

Marty  Offline OP

PM Hangs Head On Puerto Azul

Re: Puerto Azul Development [Re: Marty] #521423
02/07/17 01:34 AM
02/07/17 01:34 AM
Joined: Oct 2003
Posts: 2,461
Belize City
Katie Valk Offline

Katie Valk  Offline
The dopes were duped with $

Belize based travel specialist
[email protected]
Re: Puerto Azul Development [Re: Marty] #524080
06/16/17 05:25 AM
06/16/17 05:25 AM
Joined: Oct 1999
Posts: 65,267
oregon, spr
Marty Offline OP

Marty  Offline OP

Puerto Azul Conspirators Face Jail Time and Fines; But Is It Enough?

After a year of investigation by Italian police, the courts of Italy have pronounced justice on several persons accused of defrauding investors of more than twenty million U.S. dollars in a faked hotel resort scheme. Chief Developer of the Puerto Azul “eight-star” hotel project, Domenico Giannini; his partner, Fabio La Rosa; and two others have indicated that they will plead guilty to multiple counts of money laundering, fraud and conspiracy for their activity with the Puerto Azul resort that was proposed to have been built in the Lighthouse Reef Atoll.  Many were duped, including Belizean Ministers of Government Manuel Heredia Junior and Erwin Contreras, who mingled in 2014 with the likes of John Travolta, Kelly Preston and Andrea Bocelli to promote the launch at the Cannes Film Festival. But while formal sentencing takes place in July, News Five was contacted exclusively by former investor Daniele Pistolesi, who has been following events and cooperating with investigators in Italy. He believes the judge’s decision is excessively merciful considering all that has happened. Aaron Humes spoke with him in a News Five exclusive and files the following report.

Daniele Pistolesi, Investor

“On July third, Mr. [Domenico] Giannini and three of his closest associates will be immediately judged by the judge who conducted the investigation. Mr. Giannini – this is official news – and the other three, these days, have asked to be punished. In Italy there is the possibility of asking for condemnation without confessing, but admitting the full blame. The imprisonment for Mr. Giannini was four and a half years in prison and twenty thousand [U.S.] dollars in compensation. The other three in court have custodial sentences of three years and ten thousand [U.S.] dollars in compensation.”

Aaron Humes Reporting:

In January, seven businessmen accused of luring more than two hundred people into investing in an eight-star resort in Belize that never got off the ground were arrested and charged. Some twenty-one million U.S. dollars vanished into offshore accounts in Belize, Luxembourg and eventually Switzerland. While justice is remarkably swift, for Daniele Pistolesi, the sentences handed down are too lenient for the severity of what happened.

Daniele Pistolesi

“I think the imprisonment sentence attributed to Mr. Giannini and others is ridiculous. To make the biggest scam in the last ten years, the detention penalty is ridiculous, and this is very strange. In fact the crimes committed by the criminal association are very serious and are the following: financial abuses, abuses of savings collection, obstruction of watchdogs, money laundering, aggravated fraud, misappropriation, fake acting and personal substitution, [circumcision of incapacity] and criminal association.”

According to Pistolesi, other investors he has spoken with are equally outraged.

Daniele Pistolesi

“In this month I’ve talked to many investors [stolen from], and I can say that the criminal gangster association has put many families on the pile of economics, making them poor. We [are talking] about more than four hundred Italian families and other countries around the world. I will continue to struggle to make the whole truth emerge as a key witness. I have created a non-profit association to bring together all the Puerto Azul victims and we are activating to be compensated for the damage done.”

Aaron Humes reporting for News Five.

There is no indication that any Belizeans are among those under continued investigation. According to Varese News, investigators say the celebrities were unaware the project was a scam and cooperated with authorities. Some nineteen million U.S. dollars in real estate and assets were seized. The fraudsters targeted unsuspecting investors ranging from successful entrepreneurs to elderly retirees. Police additionally found that one such investor, a wealthy businessman, invested nearly seven million U.S. dollars allegedly earned through a tax evasion scheme.

Channel 5

Re: Puerto Azul Development [Re: ] #540568
02/13/20 12:52 PM
02/13/20 12:52 PM
Joined: Oct 2001
Posts: 6,152
San Pedro AC Belize
Diane Campbell Offline
Diane Campbell  Offline
Originally Posted by Gabi Johnson
In an effort to compete with Jeff's often acerbic sense of humour may I state my own views on the subject of this project - anything and anybody who/that purposely associates with John Travolta is terrifying.

You are responding to a post that is 2.5 years old .....? This potential "project" never was viable and even the rumour is a thing of the past.

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