Dominican Watchdog’s Annual Report on Real Estate Fraud in the Dominican Republic
Dominican Watchdog – the first consumer protection agency in the Dominican Republic needs help from the international press community to locate foreign investors from around the world who have been victims of real estate fraud in the Dominican Republic.
SANTO DOMINGO, DOMINICAN REPUBLIC (PRWEB) MAY 11, 2009
Dominican Watchdog, a nonprofit consumer protection agency operating under a new trust and transparency program in collaboration with the European Union Commission and under the United Nations protocol against corruption and crime. We are urging property buyers, who have been victims of real estate fraud in the Dominican Republic, to come forward in an exposé of the deplorable condition for international real estate investors.
Dominican Watchdog is preparing its first annual report on fraud and corruption in the Dominican real estate market, involving foreign investors from around the world.
Investors who have not been able to recover money lost in real estate scams in the Dominican Republic can seek free advice and legal assistance through Dominican Watchdog. For more information please visit our website
Dominican Watchdog is particularly focusing on the following financially distressed projects with questionable backing; Marbella, Las Olas and CostaBlanca by Metro Country Club and its owners Dr Luis Jose Asilis and VP Steve Ankrom. We are also closely monitoring the troubled and destituted Italian/American golf project La Estancia Golf Resort next to Casa de Campo in La Romana. Further including a long list of minor private developments around the Dominican Republic. Future payments to any of these projects should be done to an escrow account or through a title guarantee company.
To avoid fraud and corruption in the Dominican property market, Dominican Watchdog has issued a Property Guide with 10 simple rules. We beseech all possible buyers to read our Property Guide before investing in the Dominican Republic. Do not pay money directly to estate agents or property sellers in the Dominican Republic including their overseas agents. Contact Dominican Watchdog for a list of trusted lawyers and estate agents in the Dominican Republic. Beware that estate agents do not need a license to operate in the Dominican Republic. Moreover, your deposit is not covered by any insurance or federation of estate agents. Please note that lawyers in the Dominican Republic do not have a malpractice insurance like their United States’ counterparts — funds on their account are not covered by any guarantee. Before you start a lawsuit in the Dominican Republic we advise you to read our guide lines for Dominican lawsuits since most lawyers overcharge foreign investors by as much as 400-800%. Dominican Watchdog is working tirelessly to expose fraud and corruption in the Dominican Republic, in the interest of consumer protection. Stay updated by visiting our website and make sure to click on our RSS feed to receive newsflashes on consumer protection in the Dominican Republic, or follow DRwatchdog on Twitter.