Bocas del Toro Real Estate.


Sunset Point: IMPORTANT NOTICE - Without Prejudice


The administrators of SUNSET POINT, INC. (by court order) would like to notify all shareholders, investors and lot owners, current and potential, that criminal proceedings brought against MR WALTER MICHAEL STEPHENSON, MR JOHN ROSS HAGEN & MR JOHN THOMAS MCKEON (all of whom reside in Florida, USA) and their attorney MR MARIO FONSECA (who resides in Panama) commenced in Panama City on March 10, 2010.

The criminal complaint, among other activities, states that following a series of illegal shareholder meetings this group fraudulently recorded in the Public Registry of Panama that all shareholders were present and agreed to transfer all land assets of Sunset Point, Inc. into a Panamanian Corporation operated by Mr Walter Michael Stephenson.  All shareholders were neither informed, present at the alleged shareholder meetings, nor voted on the illegal transfers.  No funds were received by Sunset Point, Inc. from this group in compensation for the misappropriated land assets.

Subsequently, following civil legal action, all of Sunset Point's land assets were then transferred again to a Panamanian Private Interest Foundation wholly controlled by members of this group.  At least two parcels of land have since been transferred from said foundation to an individual and another Panamanian corporation at heavily discounted prices (as low as $5,000 for a premium lot).

WARNING:  Potential buyers and investors beware: any and all land transfers not made directly by Sunset Point, Inc. and any transfers whatsoever registered after November 2009 will be deemed null and void as the buyer/investor will be effectively receiving stolen goods and the transfers will have been made without shareholder approval.        
In addition to all unsold lots and common land a number of Sunset Point, Inc's clients also had their fully or partially paid for, contracted lots transferred illegally by the same group.  Lot owners that were directly affected are those with contracts for bay front lots 1 through 13 on the Sunset Point master site plan.

It is the sole intention and dedicated aim of the current Sunset Point, Inc. administration, through criminal and civil proceedings, to ensure that all Sunset Point, Inc's land assets are returned to their rightful owners, being the shareholders and clients of Sunset Point, Inc., many of whom were unaware of these alleged criminal activities that directly impacted their investment.

The Sunset Point, Inc. administration is pleased to confirm that after almost 6 months of presenting overwhelming evidence including sworn statements from shareholders and clients, the Panamanian Prosecution Service has admitted our case and we expect all the misappropriated land to be commercially frozen through the Panamanian Public Registry.

If you are a shareholder, lot owner, creditor or employee that has been directly affected by these actions and would like more detailed information then please submit your contact details below.  The Sunset Point, Inc. administration will then endeavor to keep you up to date with the ongoing progress through the Panamanian judicial system to revert this crisis.




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