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“It is believed that there are approximately 900 to 1,100 victims with out of pocket losses of approximately $30-50 million.”
Paragon Properties of Costa Rica — Third Amended Class Action Complaint Filed
The Third Amended Class Action Complaint was filed yesterday against Paragon Properties of Costa Rica and its affiliated entities and owners. This amendment is, at the court’s request, significantly tighter and more streamlined, and it clearly identifies who is suing who for what. The scope of the fraud continues to grow and the web of deception that was created has become increasingly complex.
There are over 300 named plaintiffs with total out of pocket losses in excess of $12,500,000.00.
You can see more at:
[ http://www.floridaconsumerlawyerblog.com/2011/06/paragon-properties-of-costa-ri-1.html ]
I wonder out of the roughly 1000 “victims” how many of those actually traveled to Costa Rica and visited, touched, felt and saw what it was they were investing in or was this primarily an internet scam.
I don’t believe we have those numbers but, from the comments we have seen over the years on various Discussion Forums and the HUNDREDS of emails which have been sent to me by their buyers, I would suggest that less than half of Paragon’s buyers actually visited the land in Costa Rica that they were supposedly buying before they were “sold.”
Again, this is cannot be taken as fact but it is an educated guess.
Scott
Others have related that they put supposedly refundable deposits on land pending their on-site inspection and acceptance of it, but when they did inspected the property and found the land unacceptable they could not get their deposits returned.
i never ever understood how someone could plunk down $25,000 for the privilege of looking at a lot and then hope to get their money back if they didn’t like it. who does that? and would those same people do that in the States? and yes, their voting privileges should be revoked!! jeje
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