Investors of the bankrupt Royal Reef Resort in North Caicos seek answers in how to recoup their millions of dollars pumped into the project
One of the Investors of the Royal Reef Resort in North Caicos, has spoken out on behalf of fellow investors, who continue to seek answers as to how they can recoup millions of dollars that they’ve pumped into the project, that has since folded.
Mr. Donald Clarke and his colleagues believe they have been defrauded by Canadian Fred Pratz, who allegedly built the resort.
Mr. Clarke said they have spent many years of trying to get answers to questions and the current status of their life’s savings invested in the Royal Reef Resort questions that he says have all gone unanswered.
Mr. Clarke submitted supporting documents to RTC’s Expressions in his bid to seek representation from the powers that be.
Clarke also said he has forwarded correspondences on to the government and after three years of frustration and anxiety, still have no co-operation.
Mr. Clarke submitted supporting documents to RTC’s Expressions in his bid to seek representation from the powers that be and speaking with host Robert Hall yesterday, he gave his reasons why the Royal Reef Resort went bankrupt.
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Mr. Clarke said he invested $325,000 of his personal funds into the Royal Reef Resort and collectively, all the condo owners, approximately 40 of them, invested about $15-16 million dollars.
Host of Expressions Mr. Robert Hall gave Mr. Clarke the assurance that the supporting documents sent to Expressions, would be forwarded to the Attorney General and the Financial Crimes Unit.
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Mr. Clarke said he too has spoken to members of the Financial Crimes Unit, who he says have been an extremely dedicated and professional staff; however he noted that because Mr. Patz left the country and went back to Canada, it is now an international endeavor to try to bring him back to face justice, which is why he is soliciting the co-operation of the TCI government, the Financial Crimes Unit and anyone who might be able to right the wrong that has been done to him and the other investors in the Royal Reef Resort.
Clarke said the Royal Reef Resort was supposed to be a source of revenue in many respects.
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Mr. Mr. Donald Clarke, one of the Investors of the failed Royal Reef Resort project in North Caicos, speaking on RTC’s Expressions yesterday.
