The Federal Trade Commission (FTC) is distributing nearly $23 million to consumers across the United States who purchased real estate lots in Sanctuary Belize and Kanantik, two overseas developments that were marketed as luxury projects but failed to deliver on their promises.
According to the FTC, 1,659 checks are being mailed to investors who lost money in these schemes. The average payment for those involved with Sanctuary Belize is $16,462, while those connected to Kanantik will receive an average of $6,346.39.
This marks the second round of payments related to the Sanctuary Belize case. In a previous distribution, approximately $10 million was sent exclusively to buyers of Sanctuary Belize properties. The current disbursement includes both Sanctuary Belize and Kanantik investors, as well as others covered by court-ordered relief.
The FTC initially filed its complaint in November 2018 against Andris Pukke and several other defendants. The agency alleged that they misled consumers into believing they were investing in a high-end development with amenities that never materialized. Many buyers lost money and could not resell their lots.
A federal trial in 2020 found that the defendants collected more than $100 million through false claims about the safety of the investment and the imminent completion of luxury features. The court determined that these representations were deceptive.
After an appeal by the defendants, the Court of Appeals upheld both the findings of deception and the monetary judgment against Pukke and his associates Peter Baker and John Usher. Following this decision, a district court ordered an initial round of payments from settlement funds.
In this latest distribution, a total of $22,865,008.34 is being sent out: $20,028,170.25 to 1,202 claimants who invested in Sanctuary Belize properties and $2,836,838.09 to 447 claimants associated with Kanantik or other affected areas.
Recipients are advised to cash their checks within 60 days as specified on each check. Those with questions regarding their payments can contact Rust Consulting at Payment@SanctuaryBelizeRedress.com; Ankura Consulting Group is assisting with administration.
Further information about the receivership is available by emailing info@sanctuarybelizereceivership.com or visiting www.SanctuaryBelizeReceivership.com for additional resources such as FAQs. The application process for redress has closed and no new applications are being accepted.
The FTC reminds consumers it does not demand money or promise prizes as part of its outreach efforts. For more consumer information or to report fraud or scams, individuals can visit consumer.ftc.gov or ReportFraud.ftc.gov.
