Expat Community > Paraguay

juan27
Joined 2008
Posts: 76

How to loose your money in Paraguay

15 years ago

This happened very recently in Caacupe (Cordillera). An elder German met another elder Paraguayan "veteran" German . The first one has been in Paraguay for 15 days last year, and decided to move to this country. The second one is in Paraguay since 25 years trying all kind of "business" without success, but with a big mouth.A third (younger) German who lives here since c.10 years gets involved in their conversation (in a pub) and the old ("Paraguyan") one offers a business idea. Building a large poultry farm with a contract to the largest poultry business in Paraguay (a Belgian, by the way). Everything looks good, sympathetic guys, no research, no informations taken about the two Germans, nothing. Each is supposed to bring a share of capital of 60.000 Euros (here a fortune) and to build on the grounds of the younger German. As soon the money is presented, they start building (for two or three days). Suddenly the police appears and they are all evicted from that ground, the police pretending that these grounds belong to a Paraguayan. The first, elder, German leave Paraguay under panic, tries to engage a lawyer to recoup his part of the involved money (that has only been very little spend) but retained by his "partners". The result of this all:
The elder "Paraguayan" German just bought a restaurant in Coronel Oviedo and is planing to open a second one in Villarica, the younger one opened a nice bar in the city center of Caacupe. Both had no money a few months ago! What happened to the involuntary money spender? He is back in Germany, has lost any contact with the Paraguayan lawyer who is not returning his calls but who also got a fair amount of advance fees for his work. I know personally the three people involved. Had the first one got contact with me, he would be richer of 60.000 Euros + costs. Nobody speaks about this, there will be no case and no trial. Another family lost "only" 10.000 Euros (they got a trial...and lost it because of corruption). Mostly people do avoid the court because the lawyers are often worse than the fraudsters.
In short: BE VERY CAREFUL IN THIS COUNTRY. IF YOU NEED A LAWYER CONTACT FIRST YOUR EMBASSY.

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SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

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How to loose your money in Paraguay

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