Reporting More Scams In Costa Rica

May 11, 2011 - PRLog -- Costa Rica is a paradise too many and a nightmare to others. As a private investigator I encounter both the good and bad. This country with its natural beauty offers an opportunity to relax and enjoy the fruits earned from a lifetime of hard work and diligence. From the breathtaking and spectacular sunsets on the Pacific Ocean to its serene and peaceful mountain views, Costa Rica has it all.

Many come here to fulfill a life's dream either by retiring here or having a second home. Regrettably, some have found that doing business in Costa Rica is not as straightforward and honest as the United States. With a number of scamers and other less than ethical real estate agents I have handled numerous scams where innocent and unsuspecting investors have not only lost the dreams of their money as well. Despite the number of blogs that I on the subject, I continue to receive calls every week about a different fraud.

Most recently is the number of so called investment bankers. These guys are offering to lend enormous amounts of money using foreign banks as source of said loans. They require a processing and handling fee to secure the loan. Once again, up front fees are nothing more than a con. When looking for a loan outside the normal channels you are subject to losing your fee and you will not get a loan.

My job puts me in locations that moat decent folk wouldn't be caught dead. There is a hotel here located in central San Jose that is loaded with beautiful women and "$35,000 a year millionaires". Recently while there on another assignment, I met a man who was boasting of owning a large and successful business in the United States. He was attempting to convince another local businessman to put up his property as collateral to secure a 10 million dollar loan. As I listened to the conversation I thought to myself, if this guy is as successful as he purports to be, what is he doing here? There are no credible investment bankers conducting business in the middle of a hotel for prostitutes.

Needless to say, the local businessman took the bait and lost $30,000.00 in fees to this con artist and was told that he was disapproved for the loan. When he approached our firm to assist him, he recognized me from the night he had his initial contact with the scamer. He asked me why I did not say something, to which I responded I was not asked. I then went on to tell him about due diligence and the vital role it plays in making a business decision. I told him that if he had invested one tenth of the fee to do at least acursory due diligence he would have saved himself a lot of money and grief.

Due Diligence in these kinds of situations is absolutely necessary to protect your interest. A due diligence will provide you information on the other party and if they are who they say they are. It will also expose any "smoke and mirror" schemes as well as other potential pitfalls, prior to you sinking your money in a lost cause.

Call us today to learn more, or visit link text Cody L Gear and Associates. We are available 24/7.

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Cody L Gear and Associates is a charter member of CID and have been providing investigative services in Costa Rica and South America since 1997. We have the experience and education to deliver verifiable, quality information to our clients.

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