Victor Hancock says he just couldn’t pass up on a deal 25 years ago to buy thousands of acres of prime real estate that came with 12 miles of beachfront property along the Sea of Cortez.
Hancock ended up buying the Tambebiche Ranch for about $67 an acre.
“The location is extremely good, right on the Sea of Cortez, between Loreto and La Paz. It has all the necessary attributes to become a very good lucrative investment,” said Hancock, who lives in Las Vegas.
Along the way, he brought in other investors and eventually turned over control to some of them but kept an interest on the property as a consultant.
One of the others involved in the transaction was Dwight Jory, a developer who got the surprise of his life when he went down to the property a few months ago to begin the process of building on the land.
“They told us we didn’t own the land,” Jory said. “I was shocked.”
Jory, Hancock and the other Americans in the group hired an attorney in Mexico to investigate how they had been scammed out of their property.
It turned out to be one of their own.
“I felt sick to the stomach,” Hancock said. “I was highly upset, it was just unbelievable because we found out who had done it, it had been a friend of mine.”
Click here to read the complete, original article by Salvador Rivera on Border Report
Source: Border Report
