AIB Bank and the Aruba GovernmentHere is a recent story about these people’s desire to help local Arubans in thecommunity to start a business. These are the same players that have turned a 7million Dollar Spa (3 million invested) into a 40K sale to Eduardo De Veer. Pleasedon’t fall for this suspected trap these people are setting. It’s suspected they willget all your wealth and you will have little recourse after you sign the loandocuments as has happened to the owners of Aqua Spa in the story that is here inthese pages. These people have had their phones tapped, internet blocked,computers hacked, hard drives cleared, emails read and email history destroyed,while people follow them around and are paying visits to them unannounced orwarranted. This is potentially what awaits you when you decide to invest inAruba.AIB Bank and the Aruba Government are organizing a special informative eveningfor business owners in the community outside of Oranjestad, particular in SanNicolas and environs (Small and Medium Enterprise (SME) Guidance Program).This program is aimed specifically at those who want to open their own businessor are existing business owners, offering guidance in the areas of finance, salesand marketing. The program is aimed specifically at businesses with a maximuminvestment of afls 500,000 (US $ 280,000).Lease Agreement Renaissance-AquaSpa Approved and Pledged by Aruba-Orco Bank For any Bank to put money at risk to this Leasecontract language puts Aruba-Orco Bankinto a very specific category of Banking Integrity and Ethics.As an established Financial Institution Aruba-OrcoBank seem suspiciouslyincompetentaccording to the evidence that has been presented so far in the Aqua Spa case. Could it be that it’s the roll they have been relegated to play to distance them from their acceptance of that
Predatory Lease Contract and the eventual suspected illegal selling of that 3 MillionDollar Spa for $40K to Eduardo De Veer?He was the author of that Predatory Lease andwho allegedly boycotted the Spa to speed the squeeze process up so he could then takeit over in a ready to go finished turnkey brand new state for 3% of its actual cost to buildnot its finished value estimated at 7 million with the sale of the Hotel as a part of thepackage?Aruba-Orco Banklooks suspiciously like one part of at least a two part suspectedcriminal business plan. Their job was too probably locate and groom a viable client thathad capital and wealth (Collateral) that they could gain access to once they had asignature on the loan contract.Then they could close the businesswith the help of theLandlord who helps drive the collateral into the Bank’s hands. The second cog of thewheel then is suspected to be Eduardo De Veer the Business owner of the leasedproperty. In this instance Eduardo De Veer personally called and asked the Plaintiffs tobuild a Spa in his Hotel then demanding that up to 2 million be invested eventuallypurchased that same Spa for 40K in a suspected sham auction less than 20 months later.The quietsupporting casts in the suspected con arepossibly the judicial system,attorneys, accountants, government employees, people who have been through thisyet do not speak up and warn their neighbors and governments of Aruba, Curacao,Dutch Antilles and Holland.The Governmental agencies are strangely silent as theintegrity of Commerce and Banking come into question.This writer suspects that againthe story will be swept under much like the investigation of the Alabama girl, NataleeHolloway. All who are in the money stream of this system wash each other’s hands. It’sa team effort to tap you and your wealth while covering each other’s back. Don’t thinkyou can beat the system as even if they are guilty theystill look to control the courts andthe Governments all the way seemingly to Holland as they all are aware yet remainsilent.Since the predatory Lease was taking too long to kill the business,it’s suspected thatthe alleged boycotting by Eddie De Veer Junior was to help speed things along. In theend that didn’t work so the Bank allegedly just came in without warning orlegalauthority closed it anyway outside of any law or legal proceeding. Then Eddie De Veerterminated the lease and denied access in a suspected criminal move following theclosure. Then in a comical turnabout a week later Eddie De Veer told the plaintiffs youhave to get back in here nowand operate your Spa or we’re going to terminate thelease again?This type of behavior continuesby these alleged criminals as the suspiciousparties began to figure out they have been caught in a potential criminal act that mightexpose their alleged con game that seems to be marching its way through Aruba
gathering the wealth of anyone whom dares to enter into business or comes intocontact with these players.While the Loan contract specifically states that all disputes arising from the loan shallbe handled in Curacao Court, still Aruba Bank has gone outside the contract theyproduced and presentedand the law and are using Aruban court now where they havealleged connections to continue to apply pressure on the Skin Care business ofMena’shere in Arubaall the whilethe fence is closing in on Aruba-Orco Bank as theyare beginning to feel the pressure of the looming verdict.They have made up to 10 visits to Mena’s and have spent as long as 3 hours at herBeauty Salondisrupting clients and staff, threatening and demanding while the processusing a bailiff is just a matter of dropping off papers and getting a signature. MarilynKoch the bailiff even called police and used them also to threaten and scare theplaintiffs.The plaintiff asked the police to check the validity of the papers and what thebailiff was demanding. After revue the Police told the Bailiff your paperwork is notcomplete. You have no right to what you are asking for and sent the bailiff off theproperty. Aruba-Orco Bank continues to harass the business in Aruba even though theCurator and Judge in Curacao have determined they have no legal right to do so. Theirattorney has cowered under the pressure from Aruba Bank and is of little help in thismanner so far. If you decide to conduct business in Aruba or the Dutch Antilles this is possibly whatawaits you. Plan on at least $100,000 for attorneys who at best are nothing more thanan extension of an alleged criminal system and will lie down while they take your moneygladly. You will come into contact at times with what seems to be a Kangaroo type courtthat protects the alleged operation. In most countries we humans think the courts areworking for justicebut you may find yourself in a system where they gladly take yourmoney but in the end you may lose as they will win the case in your astonishment orthey just appeal and the courts will wink there eye and wait for the next victim to arriveinto their courts. Now out of your reach is the millions you have invested while it’s atwork in their system or Eduardo De Veer the Hotel owner uses your Spa to generateincome after paying pennies on the dollar for your investment and hard work I thinkthere are good judges in the system. In this case in Curacao it looks as though JudgeVanSchendelby his history of decisions to have integrity and will seek justice.It is the onlyway for Aruba Curacao and its people to survive and move on. The Antilleans suffer themost as very few realize any benefit from this type of allegedly criminal system.Neighbor does not trust neighbor. The only jobs available are ones controlled by thesystem. If you don’t play by their rules and take your small share they will freeze you
and your family out or figure out a way to put you in jail as they have with their ownPriests who have spoken out against the system in recent years. Contract wording determines intent. In this particular instance the Lease Agreement isthe cornerstone of the risk that was being assessed by the Banking Institution lendingthe funds. Many other factors including the borrowers business experience, the historyof the Landlord and his business approach, the economy and projected growth, thevalue of the project once completed and its Loan to value ratio. No Bank lends 1.2million to a project thenin 2 years sells that project to the Hotel that was boycottingthem for 76K or less than 6% of their own money they put at risk or 3% of the totalinvestment made of 3 million?There is suspiciously more to this. It’s suspected the Bankactually worked some kind of a reasonable negotiated price with Eduardo and bothsettled on a fair price for that World Class Spa under the table. Banks simply don’t giveaway their Investments for 3% of the invested value 20 months after the loan isoriginated. Aruba-Orco Bank held the fiduciary position of knowledge, trust,tools andexperience to adequately assess and understand all the risks being taken more so thananyone in this contract.When Sharon Frankel of Aruba Bank asked Emile in late 2010 how could you have signedsuch a lease agreement had she forgotten she is the Executive Director of the Bank andsat on that board that assessed the risk in that loan application and read that Leaseagreement? I suspect it was a attempt to blame the plaintiffs. When Aruba-Orco Bankasked for that Lease agreementso their board could interpret that lease they respondedto the plaintiffs that the lease was good but we need to meet and talk aboutcollateral.By their actions they showed their intent to move forward in the face of alease agreement guaranteed to kill the business. By not discussing the language of theLease Agreement with the plaintiffs or the risks it brought into play the Bank was sayingthat the lease and its language was of no concern but the collateral was? In whatcivilized country are Banks allowed to acquire wealth solely through writing loans tocreate a Fraud situation to collect collateral?Look at the numbers below. In 4.1 is enough information for a Bank to just say no tothis agreement and activate a law change if they do not exist in Aruba to protectborrowers. To keep it simple the first Million Dollars grossed not net Eduardo De Veerreceived approximately $280 K. That is before any profit is made or the employees get
paid, benefits and employee taxes are paid, and product is purchased. No business could withstand a 28% chop off the top of the gross much less the net. How can these contracts have any Bank money being put at risk against them? They are illegal and outlawed in all parts of any civilized Business-Banking Society. No business could survive them.This is beyond gross negligence into a suspected criminal conspiracy.How can Aruban courts look at this and not find some instance where the evidence they are seeing continuously crossing their court docket does not upset their sense of justice? Here are the critical parts of the Aqua Spa-Renaissance Lease Agreement. There are illegal clauses in this lease where the multimillion dollar spa could end up in the hands of Eduardo for nothing? There is no country on earth that has laws that allows that to take place. No Bank takes on this risk unless they are seeking the collateral.3. TENANT’S FAILURE TO OPEN In the event that during the term the Tenant fails to take possession and or to open at thestart of the lease agreement, the Leased Premises for business fully fixture, stocked andstaffed, then the Landlord shall have the right to collect the rent herein provided plus a fee ofNAF 1000,- ( say ; one thousand Netherlands Antilles Guilders ) for each calendarday(with each part of a day counting as a full day ) the Leased Premises is not open forbusiness, without prejudice to Landlord’s right to demand performance and/or Landlord’s right toclaim damages/loss of profit.4. RENT, COMPENSATION, ENTERTAINMENT, ADVERTISING AND PROMOTION4.1 TENANT shall pay for the first year a minimum base fee of US $40.000(say; forty thousandUS Dollars) per year. If gross sales are more than $ 420.000(say; four hundred and twentythousand US dollars) the first year fee will be $ 60.000(say; sixty thousand US dollars)excluding the sales tax, currently 5%. All amounts will be paid in monthly installments, excludingthe sales tax currently 5 %. For the following years the minimum base fee will be $ 60.000(say;sixty thousand US dollars) per year, excluding the sales tax currently 5 %.The monthlyinstallment will be then equal to $ 5.000(say; five thousand US dollars), excluding the sales taxcurrently 5 %. In the event the Agreement begins or ends on a partial month basis, then a pro-rate amount shall be due. TENANT shall pay an additional fee (“Percentage fee “) as follows;between zero and $ 420.000(say ; four hundred and twenty US dollars ) ; ten percent ( 10 % )of the yearly gross sales, between$ 420.000 (say ; four hundred and sixty thousand USdollars); fifteen percent (15 %)of the yearly gross sales, above $ 560.000US dollars ; twentypercent ( 20 %) of the yearly gross sales, excluding the sales tax , currently 5 %.The definitionof gross sales for the purpose of this agreement is; all sales generated through the Spa facilityexcluding sales tax and additional service charges if distributed to employees. At the end ofeach year reconciliation will take place of the realized gross sales and settlement for theadditional fees. (
The monthly fee for Entertainment, Advertising and Promotion amounts during the initial term toUSD1.420,- (say ; one thousand four hundred and twenty US dollars ) excluding the sales tax,currently 5 %.The amount mentioned above will be paid in advance on the first of each monthby automatic bank transfer to the account of the landlord commencing as herein provided,without any set off or deduction whatsoever. The prorated “Percentage fee “will be paid within15 days after months end..4.2In derogation of article 6.43 and article 6.44 of the Civil Code of the Netherlands Antilles,any Payment of the Tenant will be attributed to the outstanding rent.4.3In derogation of article 6.43 and article 6.44 of the Civil Code of the Netherlands Antilles,Landlordisentitled to attribute a payment of Tenant to an outstanding debt.4.4The rent and other fees may be adjusted, with the cost of living index factor for the last 12(say;12 Months)der·o·ga·tion [ dèrrəgáyshn ]1.deviation: a deviation from a rule or law, especially one specifically provided for2.exemption from rule: an exemption from a law or ruling given to a state3.disparagement: the act of belittling or criticizing somebody or something4.5If Tenant shall fail to pay any of the above at the due date, Tenant shall be obligated to pay a latepayment charge equal to 10 % (say ; ten per cent ) of the amount due, with a minimum ofNAF 100,- (say; one hundred Netherlands Antilles Guilders ) whichever is greater, per calendar,per Month from thedate when the amount became due until the date of payment.4.6 In addition to the penalty charge as referred to in section 3.6 on every occasion when an amountdue is not paid an interest of 2 %(say; two per cent ) per month will apply from the first date due untilthe day of payment.4.7 It is expresslyunderstood that any failure to comply with any and all payments on their duedateConstitutes breach of Contract and authorizes the Landlord to evict the Tenant without furtherrecourse by Tenant.4.8 The acceptance by Landlord of a payment for a lesser amount with an endorsement or statementhereon, or upon any letter accompanying such payment, that such lesser amount is payment in full,shallbe given no effect, and Landlord may accept such payment without prejudice to any rights or remedieswhich Landlord may have against Tenant. In case of a devaluation of the official exchangerate of theNetherlands Antilles Guilder versus the United States Dollar, all the above amounts shall be adjustedaccordingly to compensate for the loss of value of the Netherlands Antilles Guilder.
4.9 It is expressly understood that any and all references to payments, fees, penalty charges, or fines inthis Lease agreement are excluding sales tax, which is currently 5 %.5. SECURITY DEPOSIT5.1 The Tenant shall deposit USD 25.000 (say ; twenty five thousand US Dollars ) including the sales tax,currently 5 %upon signing of contract as security deposit for the full and faithful performance by Tenantof all terms, covenants and conditions of this lease agreement, Landlord shall have the right, but not theobligation, to apply any part of the to cure and default of Tenant, and if Landlord does so, Tenant shallupon demand deposit with Landlord the amount so applied so that Landlord shall have the full depositon hand at all times during the term of this Lease agreement.5.2 The deposit will bear no interest.5.3 The deposit shall also apply to any extension of the lease agreement including any amendmentsthere to.5.4 Tenant shall not be entitled to set- off any payments against the deposit.5.5 After any upward review of the rental price or other payment obligations under this leaseagreement, Tenant is obliged to deposit at first written request of Landlord for an additional amountadjusted to the new payment obligations, provided however that the additional deposit reflects 5.1ratio to the base fee as defined in 184.108.40.206 The security deposit under this lease shall not be assigned or encumbered by the Tenant withoutthe written consent of the Landlord.5.7 Should Tenant comply with all of the terms, covenants and conditions of this Lease and promptlypay all of the amounts due hereunder as they fall due and other sums payable by Tenant to Landlordhereunder, the deposit shall be returned in full to Tenant at the end of the term of this Lease, anyextension, or at the earlier termination of this Lease.5.8 The Landlord shall have the right to transfer the lease and in such case shall also have the right totransfer the security deposit to the new Landlord and Landlord doing the transferring shall be releasedby Tenant from all liability for the return of such security deposit and Tenant shall look solely to the newLandlord for the return of the security deposit.6. OPTION TO RENEW THE LEASE While this lease is in full force and effect, provided the Tenant is not in default in the performance ofany of the terms, covenants, and conditions thereof. Tenant shall have the right or option to extend theoriginal term of this lease for a two terms of five (5) years. Such an extension or renewal of the originalterm shall be upon terms, covenants and conditions to be negotiated. Notice of the Tenant’s intentionto exercise the option must be given to the Landlord in writing by registered mail at least six monthsprior to the expiration date of the original term of this lease. If no notice to exercise the option is given
by the Tenant for the period set forth above, the lease shall terminate at the end of the original term,ipso jure, without any judicial judgment, when the Landlord shall have notified the Tenant by letter thatit wishes this dissolution in pursuance of article 3.296 et seq and article 6.265 et seq of the Civil Code ofthe Netherlands Antilles, without further notice, in which event the tenant is bound to surrender anddeliver the leased premises on the expiration date of this lease agreement. The option on the part of theTenant herein contained for an extension of this lease shall not be deemed to give the Tenant anyoption for any further extension beyond the first extend.7. PURCHASES BY HOTEL GUESTS THROUGH ROOM CHARGETenant shall permit Hotel guests to charge purchases to such guests Hotel room accounts providing thefollowing steps shall have taken place.a.Landlord shall provide Tenant with a POS system, together with all hardware equipment and softwareprogrammed into the POS system. Landlord shall remain the owner of such POS system. Tenant herebyacknowledges to have received training and the manual for the proper operation of the POS system.b. Tenant shall verify that the hotel guest has a valid Hotel id.c. Tenant shall receive verification of the guestsregistration at the Hotel and authorization for suchguests to charge purchases from the Premises to the guests’ Hotel accounts through the POS system.d. Upon authorization of the guests purchase through the POS system, Landlord shall pay toTenant the full amount of such purchase less an administration charge of five percent (5 %) within five(5) business days of the date of the purchase.e. It is understood and agreed that no set-off or deduction of the purchase amounts against rent andother compensations due from the Tenant to Landlord shall take place.f. It is understood and agreed between the parties that any amounts disputed by the Hotel guest oramount deemed by the Hotel Controller to be uncollectible shall be for the account of Landlord.23.4 If the Tenant ends its use of the Leased Premises prematurely, the Landlord shall be entitled toobtain access to and take over possession of the Leased Premises at the Tenants expense, with no rightto compensation accruing to the Tenant.23.5 Any property not removed shall be deemed to have been abandoned by Tenant and may beretained or disposed of by the Landlord as Landlord shall desire.23.6 The Landlord shall not be liable to make any payment for items not removed. Items not alreadyremoved, may be removed at the Tenants expense.23.7 Unless otherwise agreed in writing between the Landlord and the Tenant, the Tenant shall in nocircumstances be entitled to leave behind any items in the Premises after the end of the leaseagreement awaiting a response to the question as to whether an ensuing Tenant is likely to want to take
over these items. If the Tenant fails to comply with this provision, the Landlord shall be entitled, at itsown discretion, to have the items in question destroyed immediately, at the Tenants expense, or else toappropriate these items to its own use and, if so desired, to sell them and retain the proceeds of saleand also to have the Premises restored to the condition as specified in article 20.1. The Premises mustbe inspected by the parties jointly, in good time before the end of the lease agreement or the end of theuse. A report of this inspection shall be prepared by the parties and shall record the findings in relationto the condition of the Premises. This report shall also record which work still has to be done at theTenants expense in relation to repairs apparently required in terms of the report and any maintenanceaccomplished. The inspection and the preparation and signing of the report shall be affectedeither bythe parties or by their appointed representatives. The parties will not be able to challenge the authorityof such representatives after the event.26. Tenant is barred from claiming damages or loss of profit as a result of the termination of the leaseagreement, as referred to in article 23.130. NOTICE OF ATTACHMENT, BANKRUPTCYThe Tenant commits himself to give written notice immediately to the Landlord of any attachment madeon the immovable or movable goods of the Tenant or parts thereof of any presentation of hisbankruptcy petition, if he files a petition for an official moratorium and in case he should be placedunder guardianship, and also commits himself to grant inspection of the present agreement forthwith tothe bailiff who makes the attachment, the Trustee/Curator or the Administrator.32.EFFECT OF HOLDING OVER BY THE TENANT32.1 If expiration or other termination of the term of this lease as provided for in this lease agreement,the Tenant holds over and does not vacate the Leased Premises and/or refuses to hand over the keys ofthe Leased Premises to the Landlord, the Tenant shall forfeit to the Landlord and immediately payablepenalty to the amount of NAF 1.000,- (say ; one thousand Netherlands Antilles Guilders ) per calendarday for …….Landlord after the expiration or termination of this lease agreement which amount(s) will beimmediately payable without any demand or notice of default being made36. GENERAL PENALTY CLAUSE If Tenant is in breach of a condition/obligation of the lease agreement, then the Tenant shall, if no otherpenalty is specified, be liable to pay to the Landlord an immediately payable fine of NAF. 1000,- (say ;one thousand Netherlands Antilles Guilders ) per calendar day for every calendar day ( a part thereofincluded ) during which the Tenant continues in default. The foregoing is without prejudice to Landlord’sright to demand performance and Landlord’s right to full compensation in so far as the losses exceed thepenalty imposed.Thinking of visiting Aruba? This case is a perfect example of how you can be taken for a spin on asystem that will throw you and your finances in turmoil. Aruba is not the USA or Europe. The Bank
and Hotel could appeal this for an additional 10 years. The plaintiffs and their investors have lostupwards of 2 million US dollars that is now locked into this and growing. Aruba-Orco Bank, EduardoDe Veer or the system don’t care as they have the Spa and these people tied up in court forever. Doyou and your peace of mind a big favor. JUST STAY AWAY FROM THIS COUNTRY AND ITS SYSTEMUNTIL THEY GET IT CLEANED UP.