- Report: #861743
Report - Rebuttal - Arbitrate
Complaint Review: Martin Barry Strudwick
Martin Barry Strudwick12 East Eager Street, Baltimore, Maryland United States of America
Martin Barry Strudwick, Strudwick Wealth Strategies Inc. Costa Rica land fraud, embezzlement, financial fraud, misappropriation of funds Baltimore, Maryland
*Consumer Comment: Picking up the pieces
*UPDATE EX-employee responds: SEC and Lawsuits
*Consumer Comment: Barry Strudwick is a scam artist!
*Consumer Comment: personal response to the report
*Consumer Comment: this complaint is sour grapes
*REBUTTAL Owner of company: Barry's Response to the Anonymous Lies & Innuendoes
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With some success, they were able to partially build and sell some of the homes, lots and condos within their community, until the downturn in the real estate market of 2008. With partially built infrastructure and lacking any real estate management experience, they proceeded to misappropriate funds from the home owner's association that was comprised of the purchasers who bought into Don Barry's twisted nightmare. [continued below]....
For over 4 years, irregularities and mishandling of funds, maintenance, security, taxes and employee payments have continued with zero accountability to the tune of over $1 million dollars at the time of writing. Lack of building maintenance has caused owners tens of thousands of dollars in damages. With no insurance or taxes paid over the past four years and general neglect, Barry has been able to weather the real estate storm, diverting these home owner association funds to his own staff, projects and pastimes.
Further investigation of Barry Strudwick's business dealings and former partners and clients has revealed a wake of misery following Barry's every step. Stories of broken promises, lawsuits, negligence, over extended credit are repeated in every sentence. Some even described him as a pyschopath, h*ll bent on robbing those who trusted his slick sales pitch. He continues his lies and deceit, hoping to snare more clients in order to pay off older clients and his mounting debts. His business model is a pyramid scheme and he's struggling to find clients to buy his brand of bullsh*t.
Many who purchased property, condos or homes from Barry do not understand the Spanish language and legal framework in Costa Rica from which he operates. This allows him to obsure his dealings and leave his clients bewildered and confused. Through a maze of layered companies (he has nearly 50 registered in his name alone) he has weaved a blanket of obscurity, insulating him from even the most persistent creditors and clients. Many of his customers do not even know that their 'purchase' was never legally transferred to them under the laws of Costa Rica. This news 'shocks' Barry for every client that brings it to his attention and proceeds to blame William Ramirez for this oversight. Shameful conduct from someone who is entrusted with peoples retirement funds.
As investments, his real estate developments have a terrible record, losing over 40% of their value, yet he continues to promote these failing assets. To add insult to injury, his staff control the home owner associations and further missappropriate funds for his own benefit and to curry favor with those investors who are becoming impatient. He ignores those original investors and continues to beat down their investments to fill his own pockets.
Municipal offices and courthouses have dockets of cases against his local cronie William Ramirez who is well known and well loathed due to non payment of suppliers, contractors and employees in the area. But with Barry controlling the purse strings and embezzling the funds, William is left holding the bag as the token local.
If you have investments or business dealings with Barry Strudwick, then you are one of the unfortunate ones. Some of his clients still hold out hope for just getting back to even, but doing so will be on the backs of new investors who fail to heed this warning.
This report was posted on Ripoff Report on 03/30/2012 10:36 PM and is a permanent record located here: http://www.ripoffreport.com/r/Martin-Barry-Strudwick/Baltimore-Maryland-21202/Martin-Barry-Strudwick-Strudwick-Wealth-Strategies-Inc-Costa-Rica-land-fraud-embezzleme-861743. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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