Title: Ombudsman Investigates Alleged Fraud against Dominican Firm Costa Dorada

Background

• The Dominican Republic’s Ombudsman, Pablo Ulloa, initiates an investigation into financial irregularities surrounding Costa Dorada company.
• Allegations of fraud and land appropriation by a criminal network.

Costa Dorada Company Accusations

• Costa Dorada company, based in Baní, accused of having shares and over 6.3 million square meters of coastal land stolen.
• Land legally owned by Mayol and Serrano families.

Alleged Fraudulent Activities

• Criminal organization reportedly involved: lawyers, accountants, and soldiers.
• Falsified documents:
  • Share sale contracts
  • Meeting minutes
  • Financial statements
  • Sworn statements

Ombudsman’s Current Position

• Investigation in progress.
• Urgency for internal due process before taking institutional position.

Implications and Concerns

• Raising concerns about legal security and accountability within the country’s corporate sector.
• Emphasizing the importance of strengthening the judicial system against financial fraud.

Update on the Investigation

• Further updates will be provided as more information becomes available.