Buy for US$10.50, sell for US$1000
TV investigative journalist Alicia Ortega reports that Playa Nueva Romana, owned by the same company as the Bahia Principe resorts, acquired the 5.3 million square meter lot from the State Sugar Council without the deal passing through Congress, as established by law. Reported, Magic Blue purchased the property during the administration of former La Romana senator Enrique Martinez at the helm of the CEA on 11 July 2007. The purchase would have been for US$10.50 per square meter. Today, the company is selling the land for US$150 to US$1,000 per square meter.
As reported by Alicia Ortega on the Monday, 16 August TV show, Magic Blue purchased the properties based on land titles that the Institute of Forensic Sciences (Inacif) certifies as incompatible with the originals.
She presented legal cases against the company by the original occupants of the property. They were presented to company owners Pablo Pinero [...]
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