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Cabinet Discussed Sanctuary Belize Multimillion-Dollar Scam

882 views · Published 21 November 2018 · 1:43 · Indexed 1 October 2026

Channel: Greater Belize Media | GBM · 2018 · News & Politics

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In 2017, a multimillion dollar investment was supposed to give way to a world-class tourism development in Belize, but the Puerto Azul project turned out to be nothing more than Ponzi scheme.  More than two hundred private investors were jilted out of millions of dollars and Belize was at the center of it. Sounds familiar? That’s because the latest scam to hit Belize, leaving black and bruised eye, is the Sanctuary Bay multimillion dollar real estate scam. And again, Belize is at the center of it. According to the Federal Trade Commission, Andres Pukke and his associates are accused of duping investors into buying Sanctuary Belize lots by falsely promising that the development would include luxury amenities and that the property would be completed soon. It has been fifteen years and the project is far from completion. In fact, the F.T.C. reported that Pukke needs about five hundred million more dollars for the project to be realized. After being revealed as one of the biggest real estate scam that the F.T.C. has uncovered, several international news agencies such as the Washington Post have picked up and reported on the story. It’s an international public relations nightmare for the government which has discussed the issue, according to Cabinet Minister Manuel Heredia Junior.

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