Un-Belize-Able! FTC Setting New Standards in Sanctuary Belize

On November 8, 2018, the Federal Trade Commission (“FTC”) held a press conference to announce a lawsuit against what it claims is the largest real estate scam the FTC has ever encountered. According to the FTC Complaint, through false claims in its marketing materials and sales pitches, the Sanctuary Belize Enterprise (“SBE”) took in more than $100 million through its sale of lots in what was meant to become a luxury development equipped with amenities similar to American luxury resorts. On October 31, the FTC filed its complaint against Andris Pukke, the creator of the scam, and numerous other defendants. The Complaint raises several interesting issues and provides useful insight into the worldview of the new slate of FTC Commissioners, which could give us clues as to where enforcement action is heading in a number of contexts. First, the FTC sued a foreign bank for the first time. The FTC does not have jurisdiction over domestic banks. In this case,…

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