The experience with Punta Pacifica Realty was a nightmare. They act to be supportive and shows you the sky in a day itself. But as soon as you get involved with Punta Pacifica Realty, they will scam you in no time.
Like every other layman, I lived my life in savings that I used to make from my earnings. These savings were 35 years old! Being a retired single mother, working all my life in bank, I invested. I invested on a 2 bedroom – 1 bath condo.
As I did not have much knowledge about investment, my colleagues helped me through it. A friend from church happened to talk with me about the piece of land which appeared like every other person’s dream.
It sounded like heaven on earth to me, the way he mentioned about the natural beauty, the view of ocean from that place, the marina with all possible amenities & the island club! Even when I was in conversation with the person from ISG, the reviews regarding Panama remained same.
Apparently, this person from ISG even touched my sentiments by saying how Panama can be really healthy for my grandchildren when they come to meet me, how I can enjoy a lot of peaceful time with them during their vacations, how nature will always nurture us staying with us on the land. This is how the picture of our paradise was shown to us.
The advertisement on Television also stole the show for them. I almost thought, I will make myself count in those famous celebrities that had their own condos! I felt on cloud 9! As if, all this 35 years long patience, paid off in building this little heaven for me on earth.
Not much time passed when the guy named Jeff Barton, who approached me from ISG, told me that I had not just made some investment at Panama but in fact I had made some profit too! When inquired; he told me the price of the land which was brought by me had booming up by 10% or more, each time.
He also made sure he conveyed me, how I could cash that out by reselling it, only when it reached 80%. When I questioned him about the finance, he deceived me in that too. He told me either they would guarantee me the finance or that Newland would do that.
I thought Jeff as my son, when he told me that trump had an eccentric relation with HSBC, which would lead to my benefit. From 2007, came 2010, when my health conditions deteriorated. This made me think about selling this property as I needed some finance on my hand.
When I contact Newland, they started saying their terms and conditions about which they were playing hide and seek with me. They said I could not sell this land for some or the other reasons, in addition to that if I still wanted to sell that land I will have to pay 8% of the their fees.
Seeing all these terms come into action, I decided not to go with my decision of selling it out. There were still some assurances from their side, which tried to explain me how my decision of buying and investing in that Panamian land was great.
A lady name Marie Williams did this by sending me some pictures of that land. She also told me how I would be able to recover my price once Newland will approve me to sell it, she also ensured me about getting the desired profit, which I was expecting since so long. After all this, all that I get to know is my land which was supposed to have a view of ocean, had nothing of that sorts. There was no island club, marina and the amenities were just out of the question.
All this land had were two enormous buildings from which one was exactly in front of my building. It covered my building completely, as if it was purposely built to hide my land. It is worthless to mention that according to Jeff, no one else could buy the neighboring land without neighbor’s permission. After all this happened, I sent my son to look into the matter.
Due to my weak health, my son started looking into matter. This revealed interesting facts, first we were informed how prices suddenly dropped. Secondly, we could no more get mortgage which we were promised due to the special relationship that Panama and HSBC contained. Newland also made sure they didn’t help us.
My son faced an attack in seeing my pathetic condition, he obtained the 2nd mortgage to help me out with this. Apart from this, there was some amount which he borrowed from his wife’s family.
After all these matters of fraud, we finally thought of suing Panama for what they did. We received the same con as while buying the Panama land. The doctor who told us how there are other dishonest lawyers in the profession who are with Panama, turned out to be dishonest himself and robbed us of thousand and 500 bucks.
After all this when my son actually visited Panama land, there were many problems inside the house they built. When we thought of repairing that, we asked Panama to help us out with this, to which we were refused by them.
149page views and 1500$ of monetary losses. The most of the users reported the severity of the scam is high.