WILLEMSTAD — Serious allegations of real estate fraud have emerged against developer Luis Correa, who is being accused of defrauding investors, property managers, and banks through the sale of unregistered units and false promises across multiple projects, including Piscadera Harbor Village and other developments in Curaçao.
Albert Lacle, the long-time property manager at Piscadera Harbor Village, and investor Marco Leal have both come forward with detailed testimonies that paint a troubling picture of deception, unfulfilled promises, and financial loss affecting dozens of individuals and businesses.
Luis Correa
Unregistered Properties and Missing Owners
According to Mr. Lacle, his company began managing units at Piscadera Harbor Village in 2013–2014 but never had any official dealings with Correa or the association that supposedly oversees the property. Instead, Lacle received direct authorization from individual unit owners to manage and rent out apartments under revenue-sharing agreements.
Trouble began when one of the owners disappeared, prompting the bank to threaten repossession of the unit. Upon investigating, Lacle discovered that the apartment in question had never been officially registered with the Kadaster (land registry office). “That’s when I realized we were dealing with fraud,” Lacle stated. “There was no legal ownership, and the bank advised me to halt all sales and payments.”
Piscadera Harbor Village
The issue was not isolated. Lacle pointed to another unit, Bungalow 4, sold to a Dutch national over a year ago. Despite requests, the buyer has never received proof of official registration, casting doubt over their legal claim to the property. “Buyers are still paying, and some have even asked us to manage their units — without realizing their titles were never valid in the first place,” Lacle added.
He also raised red flags about individuals involved in questionable sales at the property. “Someone named Caia Den is reportedly selling units. But who gave her the authority? What’s the legal basis?” he questioned.
Victims Speak Out
Investor Marco Leal echoed the sentiment, describing a years-long pattern of deceit and abandonment tied to Correa. “What we see now is complete neglect — abandoned structures and broken promises,” said Leal. He explained that Correa lured multiple investors into projects with offers of interest payments in the event of construction delays. “Everything was documented — we had contracts, legal agreements, even payment terms,” he said. “Years passed, and nothing materialized.”
Leal cited an article by journalist Pedro Pablo Peñalosa that recently exposed real estate listings for units on land that has remained untouched and abandoned for over a decade. He expressed outrage after discovering that Correa had sold properties under his name but refused to recognize his obligations or repay investors. “He told me he’d repay me once he sold his house in Blue Bay,” Leal said. “He sold it and never paid me a single dollar.”
According to Leal, other partners now claim the debt was not theirs, attempting to dissociate themselves from Correa. “He spearheaded everything — the marketing, the signage, the brochures — and now no one takes responsibility,” he added.
Broader Impact
The scope of the alleged fraud extends beyond individual investors. According to Lacle, entire sections of the Piscadera project — including a hotel and commercial center — remain incomplete or mismanaged. The chaos has left buyers without legal titles, property managers without guidance, and financial institutions entangled in ownership disputes.
Lacle warned that without a legal crackdown and structural oversight, the property market in Curaçao risks further damage. “We’re trying to manage this as responsibly as possible, but we can’t continue like this if ownership is not legally secured,” he said.
Authorities yet to Respond
Despite mounting evidence and public concern, no official statement has been issued by local authorities regarding the fraud allegations. Both Lacle and Leal are calling for urgent government intervention, clearer land registry enforcement, and criminal investigations into Correa’s dealings.
In the meantime, frustrated investors, tenants, and property managers are left in limbo, unsure of the legal status of the properties they believed they owned.
