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Is the Sanctuary Belize Development Under Fire From the FTC only Months Away From Defaulting?

Written by Steve Rhode

For anyone interested in the action the FTC has taken against the Sanctuary Belize development and people involved in it, here is a quick update.

Court documents state that Andris Pukke is asking to get count frozen funds, thawed, so he can get “$8,000 per month for unspecified living expenses and $500,000 for attorneys’ fees costs.”

But what is the most concerning on face value is this statement in the document filed by the Receiver, “at the present time the receivership estate has less than $300,000 on hand, with approximately $75,000 of that total presently subject to a restriction as to how it may be used. However, none of the frozen cash or cash in the Receiver’s account are in or originating from accounts in Pukke’s name, so it is unclear what assets Pukke seeks to release for the payment of living expenses and legal fees. The Receiver is spending approximately $95,000 per month to fund necessary and critical operating expenses to maintain the Belize development property subject to the receivership known as the Reserve at Sanctuary Bay (“Reserve”), which means that the receivership estate is on the verge of being illiquid and unable to pay critical expenses in less than two months [emphasis added].” – Source

READ  Will I be Able to Keep My Sanctuary Belize Lots I Paid For?

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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