The Puerto Azul project turned out to be a huge multi million dollars scam orchestrated by the so called developers Domenico Giannini, and Fabio La Rosa. Belize is getting bad press about it because Giannini and La Rosa told investors that Puerto Azul would be built in Belize. Tourism Minister Manuel Heredia Junior even attended a promotional event at the Cannes Film Festival. Prime Minister Dean Barrow shared his thoughts on the matter.
Prime Minister Dean Barrow
“It’s very unfortunate that these people fell through but as I think our officials have indicated while we are obliged to listen to anybody who comes with a project proposal and when on the face of it they appear to be legit these people fooled very many of the good and the great. I don’t think you can apologize that in particular instances things will not turn out to be as they appeared at the start and I think that it is a merit in us that fairly early on our officials realized that this was going nowhere. So it’s still a regrettable incident but its if not par for the course not unexpected of the hundreds of applications that come to this country some will prove to be bogus.”
The developers were arrested in Switzerland.