The Caicos Beach Resort and Marina, located in South Caicos, was set up to fleece investors from the beginning. Active sales began around 1998 with the target market being U.S. and U.K. Investors entered into a Forward Purchase Agreement.
Investors were instructed to wire funds to Patti Rahl’s Florida Attorney Trust Account and then Patti moved funds into the accessory Rahl & Rahl Tax-Exempt TCI Trust Accounts I & 2, and TCI Payroll Account and Off Shore accounts set up in Nevis.
The Rahls do not have a license to practice law in the TCI, yet they are orchestrating every aspect of the resort from managing all the investments, interacting with the government, negotiating bank loans, hiring appraisers, ordering construction materials, and overseeing the local office.
They have had free reign to spend and expense their lavish lifestyles through these accounts. The off-site office, which is the Rahls Deerfield Beach office at one point had submitted expenses over $1,000,000 (2008). The developers then proceeded to bleed the accounts dry with expenses, fees, dummy companies, capital withdrawals, Black and Platinum Amex Cards, funding their Florida Law Firm, vehicles, shopping, and blatant spending.
They abused their power as U.S. Attorneys and threatened investors. Communication would be sent to select investors every two years. Investors would call the Rahl’s office in Florida only to be ignored and lied to about the progress of the development.
Upon requesting their deposits returned, investors were informed the developer would utilize investors’ deposits to fight them in court rather than use the money for construction. Disgruntled investors were instructed to send a complaint to their local representatives.
In 2006, Scotia Bank approved a $15,000,000 loan for construction. In 2012, the bank elected not to grant additional funding and pulled the loan. Caicos Beach Resort was told in advance of 2012. The Rahls had attempted to find other lenders and even provided false information on the resort to boost the value.
One appraisal from a West Palm Beach firm, which was commissioned by the Rahls in 2012, estimated the resorts worth to be from $265,000,000 to $295,000,000. This estimate is based on false information provided by the Rahls as they distorted the status of the development and claimed it to be 70-80% complete.
In 2014, an Asian finance group, Asia Pacific Investment House (APIH), announced its second round of funding of $43 million in the Caicos Beach Resort in a press release. This company is also a scammer set up by Pierre Moreland (aka Moerland) They were offering second passports as incentives to "invest" to prospective investors in addition to zero tax exposure packages which is materially and deliberately deceptive in that it purports to entice investors to purchase units in the resort.
They claim the resort was 90% completed when we know there is no plumping, electric let alone windows and fittings. Their representatives in the TCI are Misick Gardiner who are Chal Misick and his Uncle DonHue Gardiner, Minister of Immigration and Boarder Control.
Members of the Executive Management are Patricia Rahl and David Lucas (FORMERLY OF CAVENDISH FINANCIAL – who targeted UK pensioners for the Caicos investment scam) It was sold for an obscene amount of $3.7M USD. to a local developer, Sailrock CMK based out of Chicago.
The former Governor of the TCI, Mr. Peter Beckingham, had offered to assist investors in finding answers with regard to how such a valuable piece of oceanfront property could be just “given away”. The deal closed on Wednesday, June 10, 2015. It was all orchestrated by all parties in this report and fell into place without a hitchl.
The resort was to be completed in 2006. It is understood that close to $70 million in investors’ monies have been spent, wasted and hidden by greedy U.S. Developers for over twenty years. Investors are left with no information as to our money for years and now fleeced out of our savings and pensions.
The Rahls are continuing the fraud to this day, by approaching investors of the development to fund the legal action they are planning to take against the TCI government and Scotia Bank, all of which they have no basis but they are encouraging investors to invest “in the cause”.
Their representative approaching investors is Charles “Chuck” Van Bastelere, from Ottawa, Canada. Chuck has been feeding investors false information as Patti and Brian Rahls spokesperson for over 10 years.
Caicos Beach Reviews
The Caicos Beach Resort and Marina, located in South Caicos, was set up to fleece investors from the beginning. Active sales began around 1998 with the target market being U.S. and U.K. Investors entered into a Forward Purchase Agreement.
Investors were instructed to wire funds to Patti Rahl’s Florida Attorney Trust Account and then Patti moved funds into the accessory Rahl & Rahl Tax-Exempt TCI Trust Accounts I & 2, and TCI Payroll Account and Off Shore accounts set up in Nevis.
The Rahls do not have a license to practice law in the TCI, yet they are orchestrating every aspect of the resort from managing all the investments, interacting with the government, negotiating bank loans, hiring appraisers, ordering construction materials, and overseeing the local office.
They have had free reign to spend and expense their lavish lifestyles through these accounts. The off-site office, which is the Rahls Deerfield Beach office at one point had submitted expenses over $1,000,000 (2008). The developers then proceeded to bleed the accounts dry with expenses, fees, dummy companies, capital withdrawals, Black and Platinum Amex Cards, funding their Florida Law Firm, vehicles, shopping, and blatant spending.
They abused their power as U.S. Attorneys and threatened investors. Communication would be sent to select investors every two years. Investors would call the Rahl’s office in Florida only to be ignored and lied to about the progress of the development.
Upon requesting their deposits returned, investors were informed the developer would utilize investors’ deposits to fight them in court rather than use the money for construction. Disgruntled investors were instructed to send a complaint to their local representatives.
In 2006, Scotia Bank approved a $15,000,000 loan for construction. In 2012, the bank elected not to grant additional funding and pulled the loan. Caicos Beach Resort was told in advance of 2012. The Rahls had attempted to find other lenders and even provided false information on the resort to boost the value.
One appraisal from a West Palm Beach firm, which was commissioned by the Rahls in 2012, estimated the resorts worth to be from $265,000,000 to $295,000,000. This estimate is based on false information provided by the Rahls as they distorted the status of the development and claimed it to be 70-80% complete.
In 2014, an Asian finance group, Asia Pacific Investment House (APIH), announced its second round of funding of $43 million in the Caicos Beach Resort in a press release. This company is also a scammer set up by Pierre Moreland (aka Moerland) They were offering second passports as incentives to "invest" to prospective investors in addition to zero tax exposure packages which is materially and deliberately deceptive in that it purports to entice investors to purchase units in the resort.
They claim the resort was 90% completed when we know there is no plumping, electric let alone windows and fittings. Their representatives in the TCI are Misick Gardiner who are Chal Misick and his Uncle DonHue Gardiner, Minister of Immigration and Boarder Control.
Members of the Executive Management are Patricia Rahl and David Lucas (FORMERLY OF CAVENDISH FINANCIAL – who targeted UK pensioners for the Caicos investment scam) It was sold for an obscene amount of $3.7M USD. to a local developer, Sailrock CMK based out of Chicago.
The former Governor of the TCI, Mr. Peter Beckingham, had offered to assist investors in finding answers with regard to how such a valuable piece of oceanfront property could be just “given away”. The deal closed on Wednesday, June 10, 2015. It was all orchestrated by all parties in this report and fell into place without a hitchl.
The resort was to be completed in 2006. It is understood that close to $70 million in investors’ monies have been spent, wasted and hidden by greedy U.S. Developers for over twenty years. Investors are left with no information as to our money for years and now fleeced out of our savings and pensions.
The Rahls are continuing the fraud to this day, by approaching investors of the development to fund the legal action they are planning to take against the TCI government and Scotia Bank, all of which they have no basis but they are encouraging investors to invest “in the cause”.
Their representative approaching investors is Charles “Chuck” Van Bastelere, from Ottawa, Canada. Chuck has been feeding investors false information as Patti and Brian Rahls spokesperson for over 10 years.