Beware of this while in Cancun

Discussion in 'Cancun Info' started by NormsKid, Sep 14, 2007.

  1. NormsKid

    NormsKid Guest

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  2. tele65

    tele65 Guest

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    WOW!!!. . .I wonder what places in CancĂșn were involved? Sad part of all this is this lawsuit will be tied up for years. More than likely, no one will ever be punished or serve a day in jail. Even if they're guilty, they'll just declare bankruptcy so no money will ever be returned.

    Sad, too, is how people allow greed to cloud their judgement with regard to investing money.
     
  3. NormsKid

    NormsKid Guest

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    I couldn't find out what places in Cancun were involved.....that was my first question after I read the article.

    If they loose the suit and they loose on the fraudulent counts of the suit, they won't be able to discharge the debt due to the fraud.

    Michelle
     
  4. CancunCanuck

    CancunCanuck Guest

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    That's the Michael Kelly case that has been going on for some time. He is the owner of the Avalon resorts, The City nightclub, the supposed Avanti car plant and a few other ventures. He's a pretty famous fraud artist around here.
     
  5. NormsKid

    NormsKid Guest

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    I recall one lady a few years back went to the Avalon and said she got ripped off and she was posting on all the cancun boards about it.

    Thanks for the additional information, at least I now know not to patronize those places...

    Michelle
     
  6. Drewbert

    Drewbert Guest

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    So, The City was built entirely with ill gotten gains.

    Say bye bye.
     
  7. matkirk

    matkirk Guru Registered Member

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    The Omni hotel was not involved, in my opion their timeshare plan is excellent. :D
     
  8. Dangers

    Dangers Enthusiast Registered Member

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    From what I've last seen on this, Michael Kelly Sr. awaits trial in Chicago, while under Federal Custody in the US, for his role as the lead player in the investment scam. It is also my understanding, that Kelly was denied bail by the US Courts for being a risk of flight and his passport was confiscated by the Courts. Kelly was originally apprehended in Florida, by the FBI, after entering the US, and receiving treatment of a heart condition at the Mayo Clinic in Jacksonville.

    His companies are currently being operated, based on reports, by his son in Cancun. The Avalon Resort on Isla Mujeres has had labor relations problems since Kelly's arrest as has another resort on the west coast of Mexico, I believe in Acapulco.

    Kelly was/is a major player in the expansive new Puerto Cancun Project, his interests, now apparently being fronted by his son. Upon his arrest in the US, the Mexico Development Agency responsible for Puerto Cancun issued a press release attempting to assure investors of the projects viability. Kelly is not the only investor in the project.

    While there's no doubt of the seriousness of the alleged charges and the likelihood of the trials outcome, IMHO, and this by no means is a defense of Kelly, his companies or the other people that assisted in this massive fraud, it's not for nothing that many of these fraudulent schemes involved people investing money in something that was "a too good to be true" type investment but yet they went ahead and did it anyway whether it be for lack of education, salesmanship and/ or their own greed.

    Below, for those interested is a list of Kelly Companies, in and outside Cancun, where at the time he held whole, partial, associate interests as per reports, many involved with the current charges against Kelly;

    Yucatan Resorts S.A.
    Yucatan Resorts, Inc.
    Yucatan Investment S.A.
    Yucatan Leases
    Yucatan Investment Corp
    Yucatan Nine Month Note
    Yucatan Properties, S.A. DE C.V.
    Azzurriccio, S.A. DE C.V.
    Resort Holdings International
    Puerto Cancun
    Avalon Baccara
    Avalon Bay Hotel Majesty Travel
    Avalon Resorts
    Avalon Reef Club
    Avalon Vacations
    Avalon Excalibur Alcapulco
    Avalon Grand Panama
    Avalon Grand Hotel
    Hotel Baccara
    World Phantasy Resorts, Inc
    World Phantasy Tours
    Majesty Travel
    Fantasy Travel
    Fantasy Tours
    Galaxy Property Management
    Galaxy Properties Management, S.A.
    Viajes Majesty
    The City (Cancun)
    Avanti Motor Corp.
    Corporativo Nolo, S.A.
    Operadora Hoteles Grand S.A.
    Josefine's Clubs (brothel and strip club chain in Panama)
    Club Baccara
    Universal Lease Servicing Agreement
    Universal Lease Program
    Groupo Kelly
    Cancun Golf Club at Pok ta Pok
    Zipp Rent-A-Car
    Panorama Communities, S.A.
    DMK Properties, LLC


    I've done a bit of smuggling, I've run my share of grass. I made enough money to buy Miami, but I piss it away so fast...
    :cdncat:
     
  9. tele65

    tele65 Guest

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    Dangers. . .I didn't know you were a Buffettphile. Me, too. . .especially before the apostasy. My favorite being Coast of Marseille. . .what a FUN song to play on the guitar as it has a sweet little chord progression.

    Every time I hear someone mention hurricane this time of year I think of "squalls out on the gulf stream, big storms coming soon, I passed out in my hammock, god I slept till way past noon, stood up and tried to focus, I hoped I wouldn't have to look far, I knew I could use a Bloody Mary, so I stumbled next door to the bar"
     
  10. RiverGirl

    RiverGirl Guest

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  11. Jim in Cancun

    Jim in Cancun Guest

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    Michael Kelly Sr. is in a Federal facility in Chicago trying to work out a repayment program to a group of mostly seniors who invested money in a "Ponzi (pyramid)Scheme" that he allegedly operated in the U.S. years ago. None of his Mexican investments are involved in the fraud claims. However, the claims are that he used the monies received to fund his fast rising businesses in Cancun in which he took distressed properties and projects and brought them back to life. He would bring potential investors to Cancun to see the Mexican operations as an example of his business successes but they were not buying into them unles they bought some of the condos in Puerto Cancun which are being delivered.

    In the Ponzi scheme, people in the U.S. invested their money with him in one of his Panamanian companies and were promised a huge return on investment--usually around 9%interest paid monthly. For many years they were paid promptly sometimes more, sometimes less but paid. Whether the money they were paid with came from profits from the Mexican properties or from new "investors" and whether the money he received was invested in those properties are things of the lawsuits. People did not complain while receiving their monthly checks--and not until the checks stopped coming right after Wilma. In any case the SEC frowns on promising high rates of interest for investments and that is the core of the federal complaints.

    Further trial phases have been posponed while he tries to work out a repayment of the lost money to the complaintants in lieu of spending years in the Chicago facility instead of Cancun. He was allegedly arrested when he flew to Florida for heart treatment at the Mayo Clinic about a year or so ago. Warrants had been out for his arrest long before that.
     
  12. tele65

    tele65 Guest

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    well. . .I stand somewhat corrected. He IS spending some time in jail . .good!! whether anyone gets any money back. . .well. . .maybe if he's got enough clear assets that can be seized for a portion of it at least

    good grief. . .how fast would you FLEE if someone promised you nine percent return per month?
     
  13. Dangers

    Dangers Enthusiast Registered Member

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    Tele~ Buffettphile or Parrothead might be pushing it a bit though I've had very enjoyable times in the past breaking bread and tossing a few back with those whom would consider themselves among both categories. I've probably been a Buffett fan for about twenty years now with Sirius Radios, "Margaritaville" providing a daily dose of Buffett's island rocking ballads, along with reggae and rock and roll from other bands in similar genres.

    Most recently caught up with Buffett and the Coral Reefers, and the extremely talented Mac McAnally in Atlantic City during the Bama Breeze Tour that was a terrific performance and party venue date at the Jersey Shore, just off the boardwalk and beach. If I had a couple of songs that sum up why I enjoy Buffett, it would probably be "Jamaica Mistaka" or "School Boy Heart" that both show a couple of different sides of the Buffett song portfolio.

    Blame it on Buffett, he took the road less traveled upon...
    :cdncat:
     
  14. tele65

    tele65 Guest

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    Dangers, my first trip to Florida back in the summer of '77 I had a couple of Buffett's 8 tracks on the trip. . .along with Lynyrd Skynyrd. Anyway, the other two couples on the road trip with my wife and me had never HEARD of Buffett and sort of blew it off. Years later they finally came to appreciate his island ballads.

    I understand about the "parrothead" thing. I've never gotten into what he calls the "myth". .I really enjoy his earlier stuff much better, personally. Spider John, Pirate Looks @ Forty . . .

    Wouldn't it be a hoot to get to see him in a small club venue like I've heard he'll sneak into every now and then. I'd like to catch him visiting Cancun and see him get up and do an acoustic set.

    I've been to the Margaritaville in Cancun, obviously, and the one in Orlando where the PBY is parked that he was flying when the "Jamaica Mistaka" episode occured. But my favorite for the pure ambiance is the Margaritaville in New Orleans right by the French Market on the east side of the French Quarter. It's got a GREAT French Quarter feel to it. . .not to mention it's just a couple blocks from Cafe du Monde where one can get those awesome beignets. . .those "doughnuts too hot to touch. . .but just like a fool, when those sweet goodies cool, I eat till I eat way too much"
     
  15. pauliine

    pauliine Newbie Registered Member

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    Avalon timeshare scam

    This company is one of the most fraudulent developers ins the timeshare industry. The only thing you can do is cancel your timeshare contract. There are many complaints on the web about this resort: Avalon Vacation Club Timeshare Complaints
     
  16. majda

    majda Newbie Registered Member

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    Thanx for info
     
  17. Hot&sexy2015

    Hot&sexy2015 Enthusiast Registered Member

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    And by law you have 5 to 7 business days to cancel


    Sent from my iPhone using Tapatalk
     
  18. Robertsche

    Robertsche Newbie Registered Member

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    Thanks for the info!!