FTC stops Sanctuary Belize land scheme

Every summer at the beach, we see billboards and flags advertising tours of sandy acres. The signs claim these empty stretches will become new communities, and that living here will be amazing — in a few years — when the homes, shopping center, and playground are complete. The ads urge visitors to buy into this great deal soon. Before you pay to build a castle in the sand, you need to do a lot of research and get some professional advice. The deal might not be as amazing as advertised, and, if a scammer is behind it, it’s not the deal for you.

In a case recently filed by the FTC, a federal court shut down a real estate scheme that was secretly controlled by a twice-convicted felon the FTC sued 15 years ago. According to the FTC, Andris Pukke and many of his associates used deceptive promotions for a luxury community in southern Belize to sell more than 1,000 lots. They claimed the development would have all the amenities of an American luxury resort — including world-class dining and shopping, a hotel, hospital, golf course, and casino — within five years. But after 15 years, the community hasn’t been built.

The defendants ran national ads on Fox News and Bloomberg, used telemarketers, and hosted webinars to promote the scheme to small business owners and retirees, according to the FTC. They encouraged couples to travel to remote southern Belize to tour the property and hear sales presentations. Most people who visited bought at least one empty lot for $150,000 to $500,000. But as the years passed and the various amenities weren’t constructed, some owners stopped making payments. Some tried to resell the land but couldn’t find buyers.

If you’re thinking of buying into a development, check on a property developer or management company with a state Attorney General. Discuss your investment ideas or plans with an accountant, an attorney, or another advisor you know and trust. If you are looking into an overseas development, consult a professional in the United States. If you had a problem with a business, please report it to the FTC at FTC.gov/Complaint.

If you toured or bought land at the Sanctuary Belize developments, the FTC wants your help. Do you have information and records about taking tours, making a down payment, or buying land in the Sanctuary Belize developments: Sanctuary Belize, Sanctuary Bay and The Reserve? We are looking for things like email from the developer; promotional material; sales documents; webinars, and other audio and video recordings. Please go to this page to send information to the FTC.

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