A "Pelican Capital Improvement Program" (PCIP) which owners contributed monies to improve the resort are now told that money is lost. But Mr. Richard Corso ,CEO of Royal Resorts who begged owners to participate in this PCIP program, also contributed $500,000 of his money to show his good faith. He has gotten his money reimbursed and explains it that his loan was secured and the rest of the investors weren't. How can one loan be secured and others not.
This is quite the case of fraud and deception. The Government of St Martin should be looking into to this case since so much of their revenue comes from the tourist and the timeshare owners are the tourists.
Regards,
Gerald Donatelli
Owner at Pelican
