I feel you are talking about the Rancho Bandaras Resort in Punta Mita area Mexico. Am I right? I was staying at the Villa del Palmar Flamingos that year and we were in the hot tub and there was some lady’s that were from that resort and they were very upset about the high increases in maintenance fees. At that time I never new any thing about these White Collar Crooks. I can not remember what year that was. The brothers name I believe was Bryon.
That I am my friend, that I am.
But it could be any one of the many properties they've failed at managing as a vacation resort. For example, the colossal failure Rafter Six Ranch. It's colossal because it was a quaint dude ranch that hosted the royalty of entertainment for decades. It was the poster child for the Western Canadian pioneering spirit. It prospered humbly for three decades. Always family owned and operated. But what happens? Wearing white hats and riding white horses along comes Collin Knight and Douglas Morcom. They are singing that city slicker song that goes like this,
"Why shucks, there's hardly no tellin' what this here place 'il do when we bring our expert marketing and sales team to this here rodeo. Why yo'all 'ill have to start-up the Pony Express to get all yer money to the bank." And with illusions of bountiful prosperity, they convince the Crowleys, the couple that owned Rafter Six, to become world-class because, that's what Collin Knight and Douglas Morcom do, they convince people to spend their own money, they sell.
Knight and Morcom both started their skullduggery in 1980 in sales at Fairmont. They are world-class at convincing; but, they are NOT world-class at operating.
Fairmont Canada financed by FRPL Finance, I know you've heard of them before, partner with Rafter Six to create a world-class resort.
And guess what happens? Anyone? It's easy. You've seen this before. That's right, little did Rafter Six know that back in town at the saloon sat the rest of the Knight Gang, the FRPL Finance Boys. Well, one boy anyway and three girls. Actually, the three girls weren't there either cause you wouldn't find them in a saloon. They never get too close to the dirty work. They don't really do any work at all. They're there just to throw 'em dam
'Revenoors' off the scent. They even use their maiden names to confuse the Sheriff.
The boys in the saloon they're wearing black hats and have black horses hitched up outside. On cue, they mount those black horses and FRPL Finance rides into Rafter Six and forces Fairmont Canada into receivership, just like they forced Fairmont Vacation Villas into bankruptcy protection. This, of course, forces Rafter Six and the poor Crowley's into foreclosure. You know why? The Contract. The Crowleys, in reading their contract with Fairmont Canada realize they committed the land and buildings to the deal, never having even entertained the idea that it could go this far south.
And we Sunchaser people think we got screwed.
The Sheriff, he doesn't know what to do. He thinks its all just too bad. A
'dag gone shame.' he's overheard to have said at the barbershop. But the Sheriff, he didn't know about Rancho Banderas, Makaha, Costa Maya, Portofino, Oasis Resort, Lake Okanagan, 26-Houseboats and a caravan of RVs. He certainly didn't know about such things as Series A, B, 1 and 2 Mortgage Bonds.
There you have it. All over again. Same story. Mostly the same characters. Different Sheriff naturally. And why did Rancho Banderas, Makaha, Costa Maya, Fairmont Vacation Villas, etc. all end up distressed and sold? It's certainly not because they weren't viable. Its because
'There's gold in them thar contracts". You just have to know how to write 'em, how to use 'em and, be willing to foreclose on widows and evict orphans.
