PROCASA REAL ESTATE SCAM BY CORRUPTED FAMILY CONSTRUCTION COMPANY IN PANAMA PANAMA CITY Other

Procasa is a family run construction company lead by Isaac Mizrachi. I am a victim of this corrupt constructin company as well as many hundreds of others who are filing lawsuites against them. The complaints in lawyers offices are so numerous to mention. I know of many cases as well as my own case. Foreign buyers especially European or American have bought in various developments i.e. Pine Hills, Destiny, West and East Tower sanfransico. Some people pay cash others will pay 30% deposit and apply for a mortgage. You are given initially a completin date but completions date are never respected not by months but by years and years up to 5yrs. during this time you will be asked to pay extra money for cement or other materials, One woman I know has paid everything and still has not received her keys and has had to visit 3 times from the other end of the world. Buyers will find so many defects it is amazing. Windows and frames out of places, drains, taps leaking, swimming pool leaks,sewage problems etc etc. One person bought with a view from the kitchen with sea views to find that when she visited she found a huge tower block in front. Many many have lost their deposits because Procasa make sure that you have so many problems you can't complete, and if you do then they bring in 'clauses' One woman told me that due to admin problems with the bank finally the title deeds were signed. Procasa then told her that they have cancelled her contract without warning and that she would have to pay $30K extra in order to keep the apartment. another man paid his 30% but was unable to get a mortgage due to ill health and was unable to get anyone from Procasa to tallk to lost all his life savings as they took the lot. Procasa are looking for foreigners as 'prey'. communication in Panama is a serious problem, be in banks or construction companies but to be ripped off, by a family of corrupt business people to too much. Last year a new law came in to protect consumers in Panama, read www.hg.org/article.asp?id= Many many people have ebeen victims sof procasa so please be careful and do not buy from these people espcially on Real Estate tours in panama

Lamarsa
Tunis
Tunisia