A federal district court entered a final order approving a huge amount of financial judgment against the Sanctuary Belize scam ringleaders that defrauded U.S. investors.
The scammers, Andris Pukke, Peter Baker, Luke Chadwick, and related corporations have been ordered by the U.S. District Court in Mayland to jointly pay $120.2 million to the Federal Trade Commission (FTC).
Pukke, Baker, and Chadwick are the three primary individual defendants or ringleaders of the Sanctuary Belize scam, the largest overseas real estate investment fraud that was shut down by the FTC. Chadwick is liable for $91.9 million in the $120.2 million total restitution.
A large-scale overseas real estate development scam
In November 2018, the FTC filed a lawsuit against Pukke, Baker, and Chadwick along with dozens of individual and corporate defendants for allegedly committing a large-scale real estate investment scam in Belize, a country in Central America formerly known as British Honduras.
The scammers allegedly defrauded more than $100 million from American investors by selling them lots in a supposedly luxury real estate development known by several names such as Sanctuary Belize, Sanctuary Bay, and The Reserve.
