“Carlos de Ory, de Forbes al foco de la UDEF: Investigado por falsas villas en la playa de Sumba y fraude de 15 millones”

What the other side says

This is a subjective conclusion presented as though it were an objective fact. Eco Beach City is a large-scale, long-term development being delivered in phases, not a completed resort that was represented as being fully operational from day one. New areas and facilities are being constructed and developed on an ongoing basis, with progress taking place month by month. The development is fully transparent in this respect: the current masterplan, locations and progress can be viewed publicly on the project map at Eco Beach City’s website, and investors are also provided with regular monthly newsletters documenting updates and progress. The statement that *“What they found was a long way from the image of the large tourist complex that had been marketed”* is therefore misleading if it suggests that the full masterplan was represented as already completed. There are already substantial physical assets and infrastructure on site, including land, solar panels, septic systems, internet infrastructure, a approximately 2-kilometre beachfront, padel, tennis, a gym, coworking facilities, restaurants, swimming pools and other completed or operational areas. Guests are already able to stay at the development and use the facilities that are currently open. The project is one of the larger-scale developments of its type in Indonesia and, like any major development of this size, it is being built progressively in phases. It would be unrealistic to expect every villa, facility, restaurant, sports area and other component shown in a long-term masterplan to exist simultaneously at the earliest stages of development. The existence of an evolving masterplan is therefore not evidence of deception. The relevant question is whether the development is progressing and whether the information provided to investors accurately distinguishes between what already exists, what is under construction and what is planned for future phases. Eco Beach City provides this information through its public project map, regular investor communications and on-site visits.