Sanctuary Bay Saga: AIBL Appeal

3
88

Sanctuary Bay Saga: AIBL Appeal

As we wait for the management plans, let us move laterally to an Appeal Case brought by the defendant Atlantic International Belize Limited (AIBL) earlier this year and ended a couple weeks ago in June. Going back to last year November 2018, AIBL had alleged innocence in any Real Estate Fraud. The disgraceful record of being involved in the largest International Real Estate scam in US history isn’t an appealing tag.

In the USA this is usually deemed a White Collar Crime. The persons involved are usually the Chief Executive Officers, Finance Officers, Brokers, Bankers, Lawyers, Clerks and other non-manual labour.

The Sanctuary Bay Enterprises (SBE) Scam is so unreal for Belizeans because of the international flavour and how deeply it went. Usually the land it simply just taken, sold for a few thousand, resold secretly and then government compensates someone, maybe $400,000, because they need to acquire it for public purpose.

The illegality and complexity of the SBE procedures are nonetheless real and they hurt people in this case American retirees thinking of heading to the jewel. Ahead is an appeal case, which threads a little deeper into this Saga. Some of the details are not new but it is nevertheless part and parcel of, as said before, of a political game when the Prime Minister of Belize, in the wilderness of pre-referendum scurrying, stealthily stated that “The question is how to reconcile the FTC’s interest, as they put it, victim compensation and our interests which also has to be in their interest as well.”(May 6 days before the ICJ referendum)

This is still a live issue.

USCA4 Appeal: 19-1925

IN THE UNITED STATES COURT OF APPEALS FOR THE FOURTH CIRCUIT

–––––––––––––––––––––––––––––––––––––––––––––

FEDERAL TRADE COMMISSION, Plaintiff-Appellee,

ATLANTIC INTERNATIONAL BANK, LTD., Defendant-Appellant.

–––––––––––––––––––––––––––––––––––––––––––––

QUESTION PRESENTED

Whether the district court correctly asserted personal jurisdiction over appel­lant Atlantic International Bank, Ltd.

STATEMENT OF THE CASE (excerpts)

Atlantic International Bank, the appellant in this case, played a key role in assisting the Sanctuary Belize scam. Although it is chartered under Belizean law, Atlantic (AIBL) has no Belizean depositors or borrowers—by law it may transact business only with people who do not live in Belize.

  • For years, Atlantic helped Sanctuary Belize sell its worthless plots, in return gain­ing access to the only customers it was legally entitled to serve.
  • Sanctuary Belize lured consumers to buy properties in its phantom resort community through a multi-step process; Atlantic (AIBL) was there the whole time.
  • Atlantic (AIBL) was a key part of the Sanctuary Belize sales pitch. Consumers are unlikely to buy bare land without believing that they can build on it. By partnering with Atlantic, Sanctuary Belize convinced consumers that they would be able to obtain construction financing, which was often essential to closing sales.
  • Partnering with a local bank also served to make Sanctuary Belize appear more legitimate to consumers; Sanctuary Belize therefore included Atlantic in its marketing materials and its telemarketers touted Atlantic in their calls. (all AIBL)To draw them in, Atlantic (AIBL) developed a “special package” for Sanctuary Belize cus­tomers, giving them higher interest rates on deposits and offering construction loans with lower interest rates and more favourable loan terms.
  • The latter offer, however, was largely illusory—Atlantic financed very few loans for construction in the doomed development. App. 2382. Nevertheless, it encouraged Sanctuary Belize customers to open multiple accounts, obtain credit cards, and even move their retirement accounts to the bank. To help Sanctuary Belize make property sales and sell the bank’s services, a team of Atlantic employees, including its CEO Ricardo Pelayo, traveled to Cali­fornia to personally train Sanctuary Belize’s telemarketers. App. 257; 300-363; 2383.
  • Atlantic explained to the telemarketers: we really wanted to sit with you guys because we know that you do webinars with your clients before they come down to Belize, and we wanted to see if we could emphasize to them exactly what we are ex­plaining to you so that when they come to Belize, they are really pre­pared for what is going to be coming on the banking side.
  • Unknown to consumers, Sanctuary Belize often seeded tour groups with plants who were paid to attend and express enthusiasm about the project.
  • Consumers who asked sceptical questions, meanwhile, were discretely removed from the group. App. 88. Sanctuary Belize customers reported that almost every­one who attended the tours ultimately purchased from Sanctuary Belize—and many of them also opened accounts with Atlantic. (AIBL)
  • The relationship was productive for Atlantic, which saw its de­posits grow by more than 15% in a single year and opened accounts for more than 100 Sanctuary Belize customers.
  • In a whitepaper to the Belizean gov­ernment, Atlantic’s CEO gushed: “Without a doubt, the success of Sanctuary Be­lize has contributed to our growth and raised the profile of our bank.”
  • Atlantic’s services were vital to Sanctuary Belize because, as one of the heads of the scam put it, At­lantic was “the single bank that is willing to house our money.” App. 849. Through its correspondent banking relationships with U.S. banks, Atlantic facilitated more than 100 transfers for Sanctuary Belize, moving millions of dollars between the US and Belize. App. 260; 1046-1047;
  • Further, many of the Sanctuary Belize defendants maintained personal accounts and conducted Sanctu­ary Belize-related business with the bank. App. 259, 1047-1048.
  • At the same time, Atlantic (AIBL) understood that those promises were false. Atlan­tic personnel began attending Sanctuary Belize property tours by 2012 and over the next several years gave 126 sales presentations to potential Sanctuary Belize cus­tomers.
  • Sanctuary Belize customers were important enough to Atlantic that once their deposits exceeded $1 million in the aggregate, Atlantic gave them a higher deposit interest rate and also extended that rate to new Sanctuary Belize customers.
  • And by helping Sanctuary Belize close property sales in Belize, it assisted with the illegal object of the scheme.

 

CONCLUSION

  • The judgment of the district court should be affirmed.

 Next Week: OWNERS’ PROPOSAL FOR FUTURE OPERATIONS AND DEVELOPMENT AT THE RESERVE

The Reserved (Sanctuary Bay) Management plans suggestions: Scheduled to be in Maryland court July 9th at 1:00pm///

 

3 COMMENTS

  1. However I was nearly positive that my EEG would
    come up clean (I figured it would be my luck) but I was able
    to have over 10+ during the EEG. They’re going to ask you to be sleep deprived
    and prompt you to do other things, which ups the chances heavily of having a seizure.

    If you can, try and schedule it around when you get your
    period..

    clip in extensions In the Korean War, from 1950 53, North American Mustangs from No.
    77 Squadron RAAF, stationed in Japan with the British Commonwealth Occupation Force,
    were among the first United Nations aircraft to be deployed, in ground support,
    combat air patrol, and escort missions. When the UN
    planes were confronted by North Korean Mikoyan Gurevich MiG 15
    jet fighters, 77 Sqn acquired Gloster Meteors, however the MiGs remained
    superior and the Meteors were relegated to ground support missions as the North Koreans gained
    experience. clip in extensions

    360 lace wigs In the movie, Bardock leads his team to take
    out a planet inhabited by a psychic race of beings.

    According to legend, if you live there long enough, you’ll start to develop psychic abilities as
    well. Needless to say, the most powerful tyrant in the universe known only as Lord Frieza wants that planet; thus he hires Bardock and his men to conquer it for him..
    360 lace wigs

    U Tip Extensions Enchantedcottage:I think my favorite princess to be is Elsa
    (but we call her The Snow Queen due to legal purposes).
    I relate to her the most because I don’t have parents and only have a sister who I
    was separated from for most my life. Her and I have been through a lot of similar
    things.. U Tip Extensions

    I Tip extensions On summer nights I leave the 1st floor bedroom window next to my five year old bunk bed wide
    open. She gets so hot, bless her. My 14 month old loves his food,
    must be because I add an extra tsp of salt to make it taste better.

    Frequency of cleaning will depend on your environment, lifestyle and amount of perspiration. Suggested for cleaning is after 10 to 14 days
    of wear.It is best to store the human hair in its original container.
    Or you can store the hair in a plastic bag.Total = + There are different processing times for different orders.
    I Tip extensions

    I Tip extensions Starting, owing, and operating
    a business takes a lot of hard work and effort. Nothing in life worth having is
    easy. There are many successful businesses that started form scratch from people
    that had a dream or idea but were considered low income.
    But carrying around feelings of guilt, shame, and
    failure can keep you from moving forward. In Illini Union Room 406, Counseling Center Paraprofessionals will host “I Am Enough: The Value of Vulnerability” workshop.
    We’ll provide an open space for participants to
    learn about topics such as acceptance, shame, and
    self compassion. I Tip extensions

    U Tip Extensions Neil Flynn as Michael “Mike” Heck Jr., Frankie’s
    husband, known for his straightforward manner and lack of emotion. Mike works at the local limestone quarry as the manager.
    He reached his 25 year work anniversary at the quarry in the season 9
    episode “The Crying Game”, wherein he was promoted to Regional Manager.
    U Tip Extensions

    full lace wigs Any international shipping is paid in part to
    Pitney Bowes Inc. Buyer is responsible for
    return shipping costs. Our goal is to make sure you are a happy buyer and pleasant shopping with us.
    That being said, blw is not the only way to a kid with a
    good diet. Quite the opposite. My son eats better than most adults I know.
    full lace wigs

    360 lace wigs In 1966, two seat F 105s were
    converted to operate in the Wild Weasel role replacing the F 100 as the Thuds were better suited for this type of operation. Aircraft were equipped with SEAD or Suppression of Enemy Defense systems, and the 2nd crewman was an Electronic Warfare Officer.
    The bottom line was getting in and knocking out Surface to
    Air missiles and their radar systems to clear the way
    for other aircraft. 360 lace wigs

    360 lace wigs I honestly thought I would be a baby mama with five kids, four daddies;
    that was how I was going to have to make a living, because I
    couldn’t read, I couldn’t talk to people, I’m scared of everybody.
    I honestly felt like that was what I was going to have to do.
    ‘I’m gonna have to be a ho.’ Because that’s what I saw
    succeeding.” 360 lace wigs.
    Cheryle

LEAVE A REPLY

Please enter your comment!
Please enter your name here