Milanes case is still deadlocked by holdout investors

Former investors of Luis Milanes will meet in a court session again Oct. 28 after another session this week that did not result in a conciliation agreement.

Milanes is the former owner of Savings Unlimited from whom reimbursement is being asked by about 500 former investors. That is far fewer than the number of individuals and firms that lost money when he fled the country in November 2002. The bulk of the investors want some $570,000 that Milanes owes distributed, but there are a few holdouts who have derailed the process.

Meanwhile other investors have made contact with A.M. Costa Rica to see if they could become involved in this case at such a late date. They were attracted by news stories. They are expected to contact prosecutors.

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