NY AG charges ruling party leaders in real estate scam

Santo Domingo.- Danilo Díaz, senior leader of Dominican Republic’s ruling PLD party, said the fraud charges announced by the New York State Attorney General on Thursday is a civil suit and affirmed that the company will resolve the situation.

"Sales made in Dominican Republic, Dominican and some latinos who came to buy were affected because they were selling their house there", said Diaz and added that "we must refer to the real estate crisis of 2008, in which more than one million United States family lost their homes".

He said he and his associate and colleague Joaquín Gerónimo were willing to reach a settlement with the plaintiffs who await their titles for properties in the project Pueblo Bavaro, Punta Cana (east). "There’s a group that was considering buyback, but it was impossible for the very U.S. real estate crisis."

AP reports that the NY attorney general has sued businesses that promoted and sold condos in the Dominican Republic, alleging deceptive business practices.

Precedent

In late 2010 and early 2011 Dominican Today reported on another real estate scam which evenly led to a fraud conviction over properties worth US$20 million.

The scandal is was uncovered in the residential project Villas Bavaro, also located in Dominican Republic’s most thriving resort region.