Cancun, Q.R. — Owners of the Sandos Hotel Group are being investigated for irregular credit operations linked to investments in Dominion Republic and Riviera Maya.
Juan Ferri and José Baldó, owners of the Sandos hotel group, are under investigation for alleged irregularities linked to hotel investments. Authorities are focused on the pair’s credit operations between the extinct Mediterranean Savings Bank (CAM) and the company Valfensal, which is owned by the old cashier and the two entrepreneurs.
The investigation is aimed specifically at the acquisition of hotels and parcels of land in the Caribbean and Tenerife for a value of just over 100 million Euro. Investigators are seeking answers for alleged crimes against the Public Treasury after they detected payment transactions through companies located in so-called tax havens.
The claim says that between 2004 and 2011, Juan Ferri and José Baldó, along with Francisco Climent, benefited from a series of loans granted by CAM, headed by former Director General Roberto López Abad and the former CEO of Empresas Daniel Gil.
In Mexico, the project under investigation is Hotel Caracol and an annexed plot in Riviera Maya for 60 million euro after loans from the savings bank.
According to a report by news agency Preferente, in 2013, Juan Ferri and José Baldó were imprisoned for misappropriation and unfair administration and left prison after paying 7 million euro.
In 2015, the agency reported that the pair were sent to the Soto del Real prison in Madrid after testifying before Judge Juan Pablo González at the Audiencia Nacional. The judge ordered unconditional imprisonment without bail for the supposed deviation of 115 million euro in credits granted to them from Bancaja and its subsidiary BdV for the Grand Coral project in Mexico.