" In May 2013, Mr. Brier decided to purchase one of the lots in Long Island, Bahamas.
After receiving a conveyance deed in the mail, however, he noted certain errors, including incorrect names of the seller and project, an incorrect sales price, and a false notarized statement indicating Mr. Brier was present in the Bahamas at the time of the sale. Id. Mr. Brier contacted the sellers about the discrepancies, and they reassured him they were mistakes and would be corrected; but Mr. Brier never received a corrected deed. Id.
After investigating the matter and speaking to other individuals, Mr. Brier was told the lot should not have been sold because it was not part of an approved subdivision development and the validity and value of title to the property were questionable without such approval. Id. Because those facts had not been disclosed by the sellers, Mr. Brier repeatedly requested a refund of the purchase price.
After he received no refund and suspected the sellers had taken advantage of him, Mr. Brier purchased a web domain, www.BahamasLandSales.com to warn others of what he considered to be a fraudulent scheme and locate other investors, several of whom contacted him.2 Id. In December —, Mr. Brier contacted the FBI and requested it investigate the matter. Id. The plaintiffs discovered Mr. Davis was a convicted felon who had been named in multiple lawsuits regarding alleged fraudulent land deals in the Bahamas.
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The Government has been urged to probe an alleged Bahamas-based real estate fraud that one victim claims is continuing, despite he and others last week winning a $94,000 judgment in the north Florida courts. Read More here
Long Island Scam: A group of US and Irish investors, in court documents obtained by Tribune Business, are claiming they were deceived into purchasing lots on Long Island for which they never received title deeds confirming their ownership.
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Mr Brier a Long Island Bahamas investor discovered that the sale to him was ‘null and void’ because the subdivision in which the lot was situated had not obtained the necessary Planning and Subdivision Act approvals - something admitted to Tribune Business previously by Keith De Cay - who intervened in the matter as an ‘intermediary’ on Mr Davis’s behalf, seeking to settle the dispute. He warned that the Bahamas, and its integrity as a safe destination for real estate investment, was under threat as a result of this scheme and others like it, as “a lot of people are getting hurt” - mainly foreign investors. Read more here
“I would never buy real estate in The Bahamas again or attempt to buy there again because it’s just too murky and people get scammed,” Mr Brier told Tribune Business of the Bahamian real estate market. “When you start seeing people have been scammed out of tens of thousands or hundreds of thousands of dollars, it’s not a good thing.” Documents are often missing, or not lodged with the Registry of Records, and reform efforts appear to have stalled. Real estate fraud in The Bahamas is a very common thing. Read more here
Foreigners must be aware of the unacceptable level of corruption in the Bahamas. .
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