A deal too good to make

Act now.

A classic scam from Costa Rica’s early days as a place for feverish, poorly-researched gringo investment was The Teak Farm. It went like this:

  1. Give us a million dollars.
  2. We’ll give you a share in a sustainable teak farm.
  3. Soon you’ll be making 25-30% ROI.
  4. We’ll manage the whole thing, so don’t bother visiting.
  5. Don’t call us, we’ll call you.

The Los Angeles Business Journal has a story about how one such scam played out. If you’re considering investing in Costa Rica, read this story, and take it as a blueprint for what not to do. This country is a haven for scammers, double-crossers, get-rich-quick cons, and greedy real estate vultures. Trust no one. Everyone will charge you more than what it’s worth, and your most trusted business associates will steal everything you have.

Other than that, it’s paradise.

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This entry was posted in Costa Rica, Economy and tagged , , . Bookmark the permalink. Post a comment or leave a trackback: Trackback URL.

One Comment

  1. Martin Pickering
    Posted February 23, 2010 at 2:57 pm | Permalink

    US$32m and “I wasn’t scrutinizing enough” – clearly!

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