Reposted from The Tico Times:
http://www.ticotimes.net/2014/02/27/police-raid-offices-home-of-us-real-estate-mogul-accused-of-fraud
Police raid offices, home of US real estate mogul accused of fraud
ZACH DYER
On Tuesday afternoon, Judicial Investigation Police (OIJ) raided the offices of U.S. real estate developer Patrick Vincent Hundley, currently serving two months preventative detention for an alleged $7 million fraud, according to the daily La Nación.
Erick Ramos, the defendant’s attorney, told the newspaper that only two documents were retrieved, copies of which were already in the prosecutor’s possession.
Authorities arrested Hundley, a prominent real estate developer and former owner of the Jacó Rays soccer club, on Feb. 17 after he allegedly defrauded five foreign investors of millions of dollars when he convinced them to invest in a property in Jacó, a popular tourist beach destination.
According to the allegation, Hundley, a Costa Rican resident, offered to help the foreign investors avoid fictitious fees by purchasing land for a real estate development through his company. The plaintiffs claimed that they signed an agreement with Hundley promising to add their names as shareholders for the 15,850 square-meter property after paying the developer $7 million. Plaintiffs claim Hundley took their money without providing shares in the new company.
OIJ also raided the offices of two notaries connected to the case who are serving one month preventative detention.
Erick Ramos, the defendant’s attorney, told the newspaper that only two documents were retrieved, copies of which were already in the prosecutor’s possession.
Authorities arrested Hundley, a prominent real estate developer and former owner of the Jacó Rays soccer club, on Feb. 17 after he allegedly defrauded five foreign investors of millions of dollars when he convinced them to invest in a property in Jacó, a popular tourist beach destination.
According to the allegation, Hundley, a Costa Rican resident, offered to help the foreign investors avoid fictitious fees by purchasing land for a real estate development through his company. The plaintiffs claimed that they signed an agreement with Hundley promising to add their names as shareholders for the 15,850 square-meter property after paying the developer $7 million. Plaintiffs claim Hundley took their money without providing shares in the new company.
OIJ also raided the offices of two notaries connected to the case who are serving one month preventative detention.
