Sandy Point Resorts

Rumours emanating from Belize City that Sandy Point Resort owners have brought in 4 specialized accountants to figure out where all the money is. Rumours abound that the Atlantic Bank is owed 12 Million Dollars. The owners from of the land that the Venezia project is being built on have not been paid. Remax sold sixth floor which of course is illegal in San Pedro. This floor was sold out and is rumoured that the clients are yet to receive their money back.The project has been changed, but no one is quite sure to what. With 90% of it being sold out, and it being 30 months behind the completion date, one has to worry.

Ambergris Daily wonders with all this money owing who has guaranteed the banks for the money owing to the banks, the pastor, the owners. Surely it can be the owners of Belizean shores, Belizean Coves, Coco Beach, Coral Beach, Ix-Tan Ha, and Costa Blue.

A prominent real estate company will not accept listings from sandy point resorts with out there being a guarantee from the bank that the apartment being listed is free and clear and that the Atlantic Bank will not take it as part of their debt.

The Venezia project still needs millions to be spent on it and it appears that all the money collected has already been spent. So, who is going to foot the bill and questions have to be answered now. We see that the managing director of Sandy Points resigned last week and has no responsibility. The owner is not in charge of monies. So who does one ask, the gardener? Surely someone is in charge.

Please see attached letter. This is for 5 million

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