Home › Forums › Costa Rica Living Forum › Wellington Trading Group S.A. San Jose, Costa Rica
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November 27, 2006 at 12:00 am #180109bradbardMember
Wellington Trading Group S.A. out of San Jose, Costa Rica
You can see a “cease trading filing” – 31st July 2006 – by the Saskatchewan Financial Services Commission against Wellington Trading S.A. Eric Aquavia, Dan Davis, Al Moxey, Ronnie Bethel, Timothy Bell and Russell Finkelstein.
You can find these files at < http://ftp.sfsc.gov.sk.ca/ssc/enforcementorders.shtml >
This posting has been edited by Scott Oliver, Moderator.
November 27, 2006 at 9:32 pm #180110scottbensonMemberMy wife and I have been to their offices in San Jose. I will have to say they are very impressive on their arm turning operation. I would never send any of my clients to them because they are only in it for the dollar.
I talked with one of the owners and he really didn’t care too much except if I was going to by a lot.
November 27, 2006 at 9:35 pm #180111bradbardMemberThey sell lots? Where? How?
November 27, 2006 at 10:53 pm #180112*LotusMemberPlaya Hermosa/Jaco. http://www.wamcr.com
November 28, 2006 at 1:36 am #180113bradbardMemberSo to understand this properly, you met with the Wellington Trading Group people in San Jose and the same people tried to sell you land which is normally sold under the name of Wellington Asset Management – Is that correct?
November 28, 2006 at 4:55 pm #180114scottbensonMemberThe group that I talked to was the people that were selling the cite listed above. The wellington office is in San Jose across from the park, it is a call center.
They have about 30 or 40 people on the phones and they have about 1,000 hits on their web sites a day.
Last August my wife and I stopped by to talk to their sales manager and he introduced us to what he said was one of the owners.
After that visit I had recived about 4 calls telling me that the price was going up and I had to buy quickly. They use the hard sell to get their clients to buy.
November 28, 2006 at 5:39 pm #180115bradbardMemberSo Wellington Trading Group is just another one of those boiler rooms.
There is also an “Investor’s Warning” at the Costa Rica Securities Authority (SUGEVAL) website about Wellington Trading Group which you can see at and says: “Therefore, they are not authorized by SUGEVAL to make public offering of securities or other related services.”
And…
“Warning: All offerings made in or from Costa Rica to foreign or local investors without proper authorization from this Superintendence, are considered a direct violation of the Law of Securities Markets N. 7732, and could be penalized by prison.”
November 28, 2006 at 5:49 pm #180116*LotusMemberI actually know Danny Yepez the sales director there and although the approach may be “hard sell” he has always been very upfront with me. As you can see from the site they are in phase 4 and lots start at approx. $60k for 5000m2. In Phase 1 they were $30,000( I know because I bought one). I had a friend who was looking and Danny called him to let him know prices were going up as a phase was ending. He like you assumed it was hard sell b.s., and did not pull the trigger. He continued to look around the Jaco area and found you could not purchase 5000m2 in a gated community 1 mile from the beach for $30k and called Danny back…to late. My friend is a New Yorker and and hard bargainer… he paid the next phase increased price. You can not always assume all these projects are being misrepresented, I spoke with a lot of people before sending off that money as well as walked the property and know the area very well. I can not speak for there trading activities past or future, and although I was not thrilled about some of what I discovered I stuck with the deal. And am happy to report that I have an appointment to close at the law offices of Fasio on December 8. Also they have started building out the infrastructure and since starting about a month ago have got quite a bit done and are now on track to complete this work by March 2007. This has just been my experience, I am not looking to start another Paragon thread and will not participate in any forum fights over the ethical/moral fiber of any of the principles at Wellington. I was only interested in there ability and willingness to complete this project according to the terms of the contract I signed.
November 28, 2006 at 6:00 pm #180117*LotusMemberI don’t know much about there trading operation or there legal problems regarding doing business there. But it is on a high floor in a very affluent office tower in San Jose. To tell you the truth it is quite impressive and not what you imagine when you use the term “Boiler” room. When they started selling land there was a firestorm of critisism regarding them, and speculation they would never build more than a gate…I am glad to say these earlier reports were wrong and they seem to be on track to build out and complete a very impressive developement in a stunning part of Costa Rica.
November 28, 2006 at 6:02 pm #180118AndrewKeymasterIt was pointed out to me some time ago by one of Wellington’s attorneys that although there is a very close relationship between the two companies and the people involved… Wellington Trading Group S.A. and the Wellington Asset Management are two different Costa Rica corporations.
Scott Oliver – Founder
WeLoveCostaRica.comFebruary 1, 2007 at 8:55 pm #180119woodyMemberi too have been aproached by wellington to buy in their new project, any advise
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