Investigative journalist Nuria Piera has looked into where real estate promoter Emmanuel Rivera Ledesma seemed to be spending the cash he was getting paid from his customers. Around 150 of these have sued him for real estate fraud related to residential and commercial property in Santo Domingo East. Most, if not all of his customers, were Dominicans living abroad.
Media reports he had received US$8 million in bank transfers. This is in addition to millions received in cash payments in his office.
The case against Rivera Ledesma and several other family members and collaborators is scheduled to be heard on Tuesday, 9 January 2024.
The wrongdoings were known for months, but the justice in the Dominican Republic was slow to act. It was not until the victims in the United States stepped up pressure through the local media, and judicial and congressional channels in the US, that the prosecutors here moved on the case.
The onus in the Dominican Republic is on the real estate buyer, who has the responsibility to do due diligence to ensure the investment is made with a developer that can demonstrate a strong track record in delivering on the offer. Rivera Ledesma had little to show, but enticed around 300 buyers who now seek to be reimbursed.
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DR1 News
9 January 2024