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Friday 07 February
2003
A Question of
Faith
The
investors of Luis Enrique Villalobos Camacho
are being left to burden the cost to clear
Enrique's name so that he can return to Costa
Rica and all hope to resume his business.
The UCCR is the prime force behind the latest
move on the part of the investors to recover
their investments. The group's executive
committee has contacted the lawyer and former
Justice Minister, José Miguel Villalobos (JMV) (no
relation) to commence an action against the
government.
The strategy proposed by the high profile
lawyer and formerly Minister of Justice until
late last year after being fired by President
Abel Pacheco, is to prepare and file a class
action suit against the government.
In Costa Rica, we have been led to understand,
that class action suits are not possible. However, through a mechanism whereby
all concerned become members of the UCCR, who
in turn hires the lawyer, which in fact would
be representing each individual investor, the
effect is similar to a class action suit.
Mr.José Miguel Villalobos, at the group's meeting on
Sunday 02 February, held at the Aurola Holiday
Inn, in downtown San Jose, explained that the
attack would be on two fronts: filing a legal
suit against the government to pressure it to
drop the charges against LEV and a media
campaign to turn public opinion back to the
side of the investors.
He explained, that the general public now see
the investors as greedy people whose only
interest is to earn the high yield 3% per
month and who turned over their money to a
criminal without regard to common sense.
Mr. José Miguel Villalobos feels that the government does
not have a strong enough case against LEV and
will drop all charges against him once the
pressure is on. He explained to the group that
the downside is that the government could
press on with it's intent to prosecute LEV and
find him guilty.
The cost to do all of this $300,000 big ones!
The group gathered and followed up on all news
groups and reported in the media, was asked to
shell out .05% or 1/6th of their monthly
income to raise the required funds to hire the
lawyer and apply the pressure.
The group needs to make an up front payment of
$100.000 to engage the attorney and then a
subsequent $100.000 to continue working and a
final $100.000 which is payable contingent on
LEV returning to Costa Rica and paying his
investors.
The question on many investor minds, from the
flow of email to Insidecostarica.com has received,
the comments posted on the news groups and
general discussion on the streets of San Jose,
is why are we left alone to shoulder this cost
to clear LEV's name.
Most were clear that they would gladly pay
that amount and more if there was a guarantee
that LEV would be cleared and their investment
returned. Or, at least, they had some sign
from LEV that he was still on their side.
When asked how could LEV help, take part in
this, when he is in self imposed exile, the
response was almost unanimous: let him put up
a good part of the $300.000 to show us good
faith. He has our money, he says our money is
safe, so....
Another alternative, it was suggested, that
LEV make a sizeable donation to a major
charity in Costa Rica, that could be anonymous
but be public that such was made.
In either case, the investors would see the
sign of good faith on the part of LEV which
would pave the way to recovery.
The reasons for this feeling? Most suggested
that the only words they have had from LEV in
the last few months is that if his name isn't
cleared, no one would get paid. These a strong
words from a man who is loved by many, liked
by most, hated by some.
It's time now for LEV to show some good faith!
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