FTC Sending Refunds to Consumers who Invested in Deceptive Sanctuary Belize Real Estate Development Scheme Operated by Repeat Offender Andris Pukke

The Federal Trade Commission is sending refunds totaling approximately $10 million to consumers nationwide who bought deceptively marketed overseas real estate lots in what the sellers pitched as Sanctuary Belize, a supposed luxury development being built in southern, coastal Belize.

Metadata
Provider: 
FTCFTC
URL: 
https://www.ftc.gov/news-events/news/press-releases/2023/08/ftc-sending-refunds-consumers-who-invested-deceptive-sanctuary-belize-real-estate-development-schemehttps://www.ftc.gov/news-events/news/press-releases/2023/08/ftc-sending-refunds-consumers-who-invested-deceptive-sanctuary-belize-real-estate-development-scheme
Retrieved on: 
Tuesday, August 22, 2023
Information
Tags: 
Commission, Peter, Douglas v. U.S. District Court ex rel Talk America, Fraud, District court, LLC, News, Federal Trade Commission, FTC, New York Court of Appeals, Online shopping, Insurance, Facebook, North-West University
Summary
Key Points: 
  • The Federal Trade Commission is sending refunds totaling approximately $10 million to consumers nationwide who bought deceptively marketed overseas real estate lots in what the sellers pitched as Sanctuary Belize, a supposed luxury development being built in southern, coastal Belize.
  • The FTC filed its complaint in November 2018 charging that Andris Pukke, a prior FTC defendant, and several other corporate and individual defendants deceived consumers who invested in Sanctuary Belize by promising they were investing in a luxury development and resort.
  • The defendants, however, failed to deliver on the promised amenities, and consumers who invested in Sanctuary property lost money and could not resell their lots.
  • Following a trial in 2020, the FTC won a verdict that the scheme took in more than $100 million.
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