Tax Issues and the Angelus Resort – One Perspective
The people who invested money in the Angelus Resort are victims of a tax fraud, promoted via a professional services company in St. Kitts.
In a nutshell, the various companies owned by Mary S. Estes provided what they claimed were 100% legal and fully ethical tax advice to their US clients. At the death bed of Mary Estes, Roland M. Thomas, in collusion with the brother of Mary Estes, Robert M. Estes, took over Estes’ businesses and used the fact that she and her companies actually defrauded US clients, providing tax planning, preparation and trustee services that were not compliant with US tax laws, to justify his cause to defraud the the clients out of millions of dollars.
A simply analogy is that you hire a firm to manage your tax planning, prepare your tax returns, manage your assets, and manage your investments. Then, the same company uses the fact that they defrauded you on their tax planning and asset protection services to justify phase two of the fraud – stealing your assets.
This is the true story which is at the heart of the Angelus Resort. It is a story of how the companies controlled by Mary S. Estes provided what they claimed to be 100% legal asset protection, high yield real estate investment, and tax planning services to their US clients and how white collar criminals used the fact that what was sold to their clients was not compliant with US tax laws, to further defraud and victimize their clients of the same assets they were entrusted to protect. The story is a variation of a Ponzi scheme with a tax planning real estate fraud bait-and-switch. The victims are told they are getting top quality, legal tax planning services and their investments are backed by prime resort property in the Caribbean. This is the “bait.” Then, the “switch” is when the Ponzi scheme is revealed and the clients are told they are not in compliance with US tax laws and intimidated not to go to the authorities and attempt to recover their stolen funds.
In other words, the investors in the Angelus Resort (formerly Paradise Beach Resorts) were defrauded at least twice in St. Kitts. Roland M. Thomas used the fact of the first fraud against clients of Mary Estes and her numerous business entities to further his objectives to unjustly enrich himself from the same fraud, by taking over the companies and defaming the defrauded investors as “tax cheaters” – to justify his fraud against them.
We seriously recommend you contact us before doing business offshore. We want to insure that you are not a victim of other fraudulent variations of similar “bait and switch” fraud schemes.
See also
Tax Counsel for US Citizens Defrauded in St. Kitts
