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Accused Real Estate Scammer Brought Back to Face Justice
Robert Alan Berry, a 60-year-old U.S. citizen and former California resident, has been extradited from Spain and is set to appear in federal court in Houston on charges of wire fraud and money laundering in connection with an international real estate scam.
According to the indictment, Berry allegedly co-founded Pelican Eyes Piedras y Olas S.A. (PEPO) in 1998 as a hotel and resort in San Juan del Sur, Nicaragua. Over the next decade, investors provided approximately $31 million to PEPO, and Berry built more than 60 units through two phases of development. However, the indictment alleges that Berry ultimately sold more units to investors than he could afford to build.
In an attempt to keep the resort afloat, Berry allegedly turned to fraud, lying to investors and lenders to obtain millions of dollars in investment funds and loans. He also allegedly sold the same unit to multiple buyers, used already sold units as collateral for loans, and sold units that he had already pledged as collateral.
PEPO suffered a financial collapse in October 2009, and Berry fled Nicaragua, eventually settling in Spain. With the assistance of Interpol and Spanish authorities, Berry was arrested on October 24, 2014. He was transported to the United States and arrived in Houston on February 6, 2015.
Berry is set to make his initial appearance in court today at 2:00 p.m. before U.S. Magistrate Judge Stephen Smith. If convicted, he faces up to 20 years on each count of wire fraud and up to 10 years for each of the money laundering charges. Both convictions also carry a possible $250,000 fine.
The investigation was conducted by the Internal Revenue Service – Criminal Investigation (IRS-CI). Assistant U.S. Attorney Robert S. Johnson is prosecuting the case.
As a reminder, an indictment is a formal accusation of criminal conduct, not evidence. A defendant is presumed innocent unless convicted through due process of law.
Key Facts
- State: Texas
- Category: Fraud & Financial Crimes|White Collar Crime
- Source: DOJ Press Release â†â€â€
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