I think the main guy from Rusa killed himself last week.
that was not a RUSA functionary. that was some rival finance house.
Just heard from a few friends of mine who have money with Rusa that Rusa has gone down and they are really fkg ****ed of , anybody know anything about it ?
beware the "investments" offered here. I had an german acquaintance who invested 1 million pesos with a company in puerto plata, not rusa nor iversiones al d?a and he was getting 16% or 18% annual interest, payments made monthly and had no problem for 6 or 7 months or even a year, then one day the monthly didn't come and he was out the principal and basically brushed off when he went to inquire.
I wish i could recall the company's name - the name of the company was a person's last name. Beware of investments, someone is always offering something which sounds great, but can be a dream.
Forgive my ignorance, but aren't most of these investments similar to ponzi schemes? I mean, what legal footing or governmental support do you have to recover your principal if these things go south? Again, I am speaking totally out of ignorance and only going by what i have read on this forum.
"I mean, what legal footing or governmental support do you have to recover your principal if these things go south?"
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"I mean, what legal footing or governmental support do you have to recover your principal if these things go south?"
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it is not as if there is a Dominican equivalent of the FDIC going on here. you pays your money, and you takes your chances.
All banks in DR are backed by the CB.
Financieras, cooperativas, etc... Are not!
The only money the CB backs are savings accounts. All others you are on your own.
Rafael Hip?lito - there's a name that sends shivers down the spines of all. A one-term idealist who was going to fix DR by raising taxes. And who did he beat - None other than Danilo Medina, proving old pennies (pesos) come around again.yes, i remember when that bank went belly up during the Hipolito epoch, and the government paid back all the account holders in full.
Rafael Hip?lito - there's a name that sends shivers down the spines of all. A one-term idealist who was going to fix DR by raising taxes. And who did he beat - None other than Danilo Medina, proving old pennies (pesos) come around again.
As a side note Hiploito is a name for boys which is supposed to denote a sexy smooth talker, suave with a huge Johnson. That does not describe Rafael.
I was just coming into the DR then but I think there were several banks (can't name them) that bit the dust and the currency was devalued and DR came close to a financial meltdown.
Moral of this story - Never put all your financial huevos in the DR basket.
R...
Moral of this story - Never put all your financial huevos in the DR basket.
He screwed over 300 people,spent a little time in prison in the DR and now living la vida loca in Miami,so wrong.*anoeca