Milanes investors invited to see committee details

Creditors of Luis Milanes, the casino owner, are getting restless and they are directing some of their unhappiness at a committee that is supposed to dole out money.

Milanes, of course, was the operator of Savings Unlimited, one of those high-interest schemes that collapsed in 2002. He fled but returned to meet his creditors in court. In exchange for dropping the criminal allegations, Milanes agreed to surrender property and make hefty payments to a fund that is being supervised by a five-person committee and held by a firm called Global Trust.

The property is being sold and the money is supposed to benefit the creditors. But some claim they have only seen a small amount of what they are owed.

Sunday, in response to a question from a reporter, Leonardo Gómez, one of the three lawyers on the five-person committee representing investors, said he would open the books for creditors who may be unhappy.

Speaking of investors who wrote a critical email, Gómez said in an email reply that the man “is not only entitled to information, he is welcome to it. If he is in fact in the list of victims, he can come to my office, show proper ID, and he will get ALL the information at once. You have my word on that.”

Gómez also noted that he is restricted in the information that he can provide others because of the rules of the court.

He also said that anyone involved can speak to the judge who is handling the case. “As far as going to the judge, any person who is part of the process can go,” he said. “They are not only welcome to it, they are encouraged to do so.”

Of course, not everyone who lost money in the Saving Unlimited collapse has joined the court action, and the invitation from Gómez only extends to those who have.

Creditors are hoping for a sale of the downtown Hotel Europa that Milanes signed over to Global Trust so that more cash will be available for distribution.

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