Thursday 24 June 2021

Financial Planner Indicted In U.S. For Illegal “Ponzi” Could Be Forced To Forfeit Costa Rican Luxury Home

‘Ponzi' scheme that bilked investors out of nearly US$15 million helped pay for luxury home in Costa Rica U.S. federal prosecutors say

The founder of VisionQuest, a Raleigh, North Carolina, investment firm, charged with running an illegal “Ponzi” scheme that bilked investors out of nearly US$15 million, could be forced to forfeit his Costa Rican luxury home.

From Re/Max Tres Amigos website

Stephen Condon Peters, 44, was indicted by a United States federal grand jury on Wednesday, December 20, 2017, the day before a freeze on his assets was set to expire.

- Advertisement -

Peters faces charges fraud and corruption after a federal investigation into Raleigh-based VisionQuest. On July 12, the FBI raided the VisionQuest offices.

Stephen Peters (LinkedIn)

In court Thursday, a U.S. federal judge agreed to release Peters if he met certain terms that also includes a lengthy forfeiture notice.

- Advertisement -

Wes Camden, Peters’ lawyer, said his client denies the charges against him and “looks forward to having his day in court.

“As we all know, there are two sides to every story, and Mr. Peters very much looks forward to telling his side through the vigorous defense of this case,” Camden said.

According to The News & Observer report, from 2009 to 2017, prosecutors contend, Peters sold at least US$15 million worth of promissory notes in VisionQuest Capital. Those notes were sold primarily to clients at another of Peters’ companies, VisionQuest Management, in exchange for investments, investors were promised 8 percent annually in interest. If the investors agreed to forgo that interest and reinvest, they were promised a 9 percent rate of return, prosecutors contend.

Investigators contend Peters used the money to support a lavish lifestyle that included a “luxury vacation home in Costa Rica”.

From Re/Max Tres Amigos website

The property, “Casa de la Amada Princesa” is described as a “stunning Contemporary Ocean View Estate Home Perched Atop Playas del Coco”. The 5,605 sq. ft. lavishly furnished and finished modern 4 bedrooms, 5 bathroom luxury home with a commanding 270 degree ocean views from every corner, located in Playas del Coco, Guanacaste, is listed for sale at US$1.8 million dollars.

- Advertisement -

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Rodolfo Méndez rules out new contracts for MECO and H Solís

QCOSTARICA - No more soup for you! If the Minister of...

Carlos Alvarado: “Don Rodolfo has my confidence”

QCOSTARICA - President Carlos Alvarado said he has all the confidence...

MOST READ

Today’s Vehicle Restriction June 18: 9 & 0 CANNOT circulate

Today, Friday, June 18, vehicles with plates ending 9 & 0 CANNOT circulate The measure is countrywide and applied between 5:00 am and 9:00 pm,...

Carlos Alvarado: “Don Rodolfo has my confidence”

QCOSTARICA - President Carlos Alvarado said he has all the confidence in his Minister of Public Works and Transport (MOPT, Rodolfo Méndez Mata, and...

American woman found lifeless in hotel bathroom in Sabana

QCOSTARICA - A sad discovery occurred this Thursday morning in a hotel located in La Sabana, in San José, the lifeless body of a...

Internet speed decreases during peaks in service

QCOSTARICA - Ever wonder why your surfing on the Internet slows down, to even a crawl, mainly in the evenings? This is due to...

Full court decides not to investigate or dismiss Emilia Navas

QCOSTARICA - Emilia Navas will not be removed from her position as attorney general, after calls for her to step down due to her...

The Best Sports To Play On A Beach

Costa Rica has some of the best beaches in the world. The coastline is blessed with golden sand, beautiful palm trees, and perfect blue...

Nathalie Álvarez Mesén’s feature debut, Clara Sola, ready for the Cannes Directors’ Fortnight

Q ENTERTAINMENT (CINEUROPA) Nathalie Álvarez Mesén’s debut feature, Clara Sola, is ready to take part in this year’s Directors’ Fortnight at the Cannes Film...

Will that be Cash or Sinpe Móvil?

QCOSTARICA - Sinpe Móvil is easy to use. From your phone, you can send money to friends, family and pay for things. Or receive...

Pandemic reinforces the Costa Rica’s attractiveness as a global destination for wellness tourism

QCOSTARICA - The pandemic caused by Covid-19 fuels the strategy of positioning Costa Rica as a world destination to develop wellness tourism, since travelers...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.