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More Orchid Bay Investors Cry Foul

More Orchid Bay Investors Cry Foul
April 04
15:04 2019

Thursday, April 4, 2019

The Reporter last week broke the story of claims made against the developers of Orchid Bay, which unhappy investors feel may end up proving to be another real estate scam similar to the Sanctuary Bay issue uncovered months ago. Despite mounting claims, however, the developers of Orchid Bay have maintained that the claims against the project are false and baseless.

Over the last week, the Reporter has spoken with at least eight investors who have all shared negative experiences in dealing with Orchid Bay. The disgruntled investors all feel that they have not received the value promised to them for the sums of money they have each invested. In some instances, the investors claim the developers have even become unresponsive and uncooperative with their questions and requests for refunds of their money.

In last week’s article we shared the plight of an investor who claims to have shelled out almost US$200,000 for what was supposed to be a private villa constructed on a purchased lot. Three years later, according to the investor, they are still without a villa and without the money.

The Reporter has also seen court filings of a lawsuit in California in an unrelated matter also naming Orchid Bay’s Chief Executive Officer, Chris Williams, as a defendant in a civil lawsuit which goes to Court in June. The case, though unrelated, alleges instances of fraud and violation of the California Securities Act against Williams, several others and a related entity.

Other investors told the Reporter that despite Williams’ assurance that he had not heard any of the complaints and claims against Orchid Bay mentioned in our previous article, he was well aware of the dissatisfaction of many Orchid Bay investors. They claim to have been in contact with Williams on a number of occasions, even sharing some correspondences between Williams and themselves with us to review. They further claim that they have been unable to secure a deed for the property they believed they had purchased and were shocked to learn that there were no records of their transaction or their lot with the Lands Department in Belize. Other investors also claim their property taxes have not been paid. The investors also claim that taxes are not being paid to the GST Department either.

Williams, however, says Legacy Development, which manages the Orchid Bay project is not concerned about the claims despite reports that several investors have taken their grievances to various agencies, including the Federal Trade Commission (FTC) in the US which is also investigating the aforementioned Sanctuary Bay (aka: Sanctuary Belize) scam. That investigation, in the meantime, has also had an impact on several Belizean entities and individuals who have been named as defendants in that case.

The Reporter will continue to follow this story and will have even more details in our next report.

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