PROCASA -ISSAC MIZRACHI RUSSOCORRUPTION AND SCAM ON REAL ESTATE

L
This review was posted by
a verified customer
Verified customer

Procasa is a family run construction company by the Mizrachi family. Many foreigners buying real Estate from them have been subject to their corruption and Scam. Do not buy from them with your peril. Completion dates are never respected. By years...and I mean years...they will ask you to pay extra money for raw materials in their construction.Apart from this they will never contact you, communication does not exist, and finally IF and when you come to complete, you get huge bills. They are criminals. The list is endless. the complaints with lawyers in Panama is mounting high. I know of several cases, where the foreign buyers have just lost their deposits (30% of the purchase price) i.e. Pine Hills and destiny. without not even an email or letter. Where many have asked if they can change the apartments due to views that when they bought plus on the sales brochure had views of the sea to find that a huge monstrous block has gone up in front of them.i.e. West Tower. Cases where after so called completion you do not even get your keys and are told that you must pay maintenance bills despsite the fact that the builing i.e. Destiny has major building problems. Cases where on completion despite there so called completion dates if you do not pay the final 70% on time (mortgage) if you apply for one, you will be given notification of various clauses and then told you must pay $30K in order to keep it. cases where the defects in the buildings are so bad that nobody can live in them. drain problems, leaks, etc. All the Real Estate agents tell you that all procasa buildings are like this. Communication does not exist. call them after you have bought to see what is happening and you will never get a response. Procasa have made their money from bleeding the 'foreigner' they are a family of theives and corruption. Beware all who intend to invest or live in Panama, keep away from Procasa. Panama is a beautiful country and delightful people but corruption is rampant, especially in the construction field. Plus communication on a business level is zero. Only the new President will be able to eradicate corruption in Panama. The buyers rights are very limited, the developer in this case Isaac Mizrachi makes his own rules. New rights are coming in to protect the consumer . Take a look at www.hg.org/article.asp?id= Legal action is taking place against this family for justice as they have lost all their life savings. All those who are victims of Procasa should file complaints against them

Responses

  • Pr
    procasavictim Aug 18, 2009

    This family has contact everywhere. one of them is a litigation lawyer educated at the University of pennyslvania names DAVID MADUR MIZRACHI he is a partner at this company and a litigation lawyer in Panamam for Procasa, and is a memebr of ICC fraudnet to assist fraud victims...
    Keep away from this lot girl. you must make a complaint to the 'Autoridiada al cliente' in Panama. [email protected]

    2 Votes
  • An
    another procasa victim Sep 07, 2009

    i too was scamed by theese theives, please trust me and do not do business with them.they stole 50k from me, and i am trying to get it back, who knows if i will.they never answer calls, they treat you like gaarbage, they use stall tactics.they are theives and criminals.

    2 Votes
  • Cr
    crispj30 Jan 10, 2010

    Well I have to disagree. My wife and I are buying an apartment in the yet to be finished Kubik apartments. We paid a 20% down and they even give us a 15 month payment plan because we didn't have the 20% down all at once. They worked with us. Now we have a final bill statement from them and we owe them nothing. We already have an account with a local bank and are approved for the loan. Now we are waiting for them to finish the building (which we know wont be done on time but nothing in Panama finishs on time) and get the keys from them. Now there are several factors that made are experience a postive one. 1. my wife is from Panama and I lived there for 3 years. I know the culture and and need to understand that things move slower and well customer service at behind the times. 2. We have a Panamaian lawyer that is our friend and Procasa know that so I guess that keeps them honest. 3. We read the contract and understand it. Those who lost their money likely didnt understand the contract and thats why you didnt get your money back. Procasa has been in business for 10 years and have comlpleted many projects. I have spoke with many people who live in those projects and they have no compliants. Am truly that people have lost their money but you can find a business and their will be complaints against a builder even ones that are "honest". You cant make everyone happy. SO read and UNDERSTAND the contract and you won't lose your money. I will acknowledge that there is a chance that we could lose our money but we have a local lawyer and will get our money back. Please remember that Panama is not USA. If you are expecting service and communication like you get in the states then you will be disappointed and should stay in the USA. Thank you.

    -3 Votes
  • Jo
    Jorge Vaca Jun 22, 2010

    PROCASA-ISSAC MIZRACH RUSSO

    NOSOTROS COMPRAMOS UNA PROPIEDAD AL SR ISSAC/PROCASA PANAMA, POR MOTIVOS PERSONALES LES SOLICITAMOS CANCELAR EL CONTRATO.
    PROCASA NOS ATENDIO MUY CORRECTAMENTE AYUDANDONOS A RESOLVER EL PROBLEMA.
    EXELENTE Y PROFESIONAL SERVICIO AL CLIENTE Y DISPUESTOS A AYUDARNOS A RESOLVER NUESTRO PROBLEMA CON RESPECTO A LA COMPRA DE PROPIEDAD.
    DEFINITIVAMENTE PROCASA/ISSAC MIZRACHI RUSSO SON PERSONAS DE BIEN, HONRADAS Y DISPUESTAS A SOLUCIONAR PROBLEMAS REFERENTES A SU EMPRESA.
    TENGO UNA PALABRA DE AGRADECIMIENTO HACIA ELLOS.
    DIOS LOS BENDIGA Y PROSPERE MUCHO
    JORGE Y MITZI VACA
    1461 NW 132 AVE
    PEMBROKE, PINES FL 33028
    USA
    [protected]

    -2 Votes
  • Ca
    carlos villamizar Aug 19, 2010

    PROCASA se resume en una sola palabra y es LADRONES.

    1 Votes
  • Da
    davidng Mar 20, 2012

    I am Panamanian, I bought an apartment in el cangrejo, PH Kubic. Back in 2011 I received the apartment with a lot of situations to be solved.
    According to Procasa they were going to solve them right away. It is March 2012 so far they haven't solve anything.
    Kind of situations I am having: Doors with termites. Most of the tiles are lacking cement. Got filtrations in several walls.
    All the crew that was working in the apartment were fired. All the guys in charge of supporting the complaints from the project were also fired or left the company.
    There was an arquitect first in charge called: Maria Giron, then there another one called Lastenia. Both are not anymore in the company. Now there is guy called Carlos Trejos.
    They always say they are going “soon” to fix everything but nothing happens.
    Procasa is owned by Mizrachi’s family. They have connection all around the country so fighting against them by “law” is impossible.
    There is also a famous case related to the project Green Park which owners had to hang a banner from all the balcony’s which says: “Here we live unhappy”.
    I’m going to take the same action, going to ACODECO won’t solve the situation since as I mentioned they have connections.
    That’s why I simply share my case so others won’t get into this trap. You can contact me at: [email protected] I will be more than pleased to give you more details!

    1 Votes
  • Ja
    jacksonheights Apr 23, 2012

    Jorge Vaca and crispj30 might very well be posters paid for by Mizrachi to restore their ill fame. Just check the spelling of the one who says he 's a native English speaking person. He certainly is not.

    1 Votes
  • Si
    SimonBolivar Apr 24, 2012
    This comment was posted by
    a verified customer
    Verified customer

    Yes, I also recently bought a unit in the Kubic building and I have to say the the Procasa is the most incompetent company I have ever had the misfortune to deal with in my lifetime. I have never seen such a poorly constructed building- many leaks, broken tiles, damaged doors, incorrectly installed wiring, damaged kitchen cabinets, bathroom sinks installed WITHOUT caulking, window problems, etc. etc. The really frustrating part is that when you call their offices they will be rude, will lie, hang up on you and generally act extremely unprofessional and arrogant. We couldn't even use the pool Kubic for a couple of months because the incompetent fools messed up the construction. Meanwhile, I have had to hire many workers to come in to fix all of their mistakes and poor workmanship. If you are even considering buying one of their units, BEWARE! You have been warned.

    1 Votes
  • Tr
    travelerchris Nov 01, 2013

    This is the first time I ran across this page. We bought in Destiny in 2006. We received our occupancy permit in Oct 2008 and had to pay in full, or we would lose our deposit. We did. Our place didn't even have walls yet and we had to pay in full. By 2009 it was finally finished. Mizrachi's are crooks and had paid off the building inspector. We talked to our lawyer and she basically said "you can sue them, but they'll get it taken care of. They're well connected". They left us with leaks, pool leaks, floor tiles that popped up, bathtubs that had holes in them, crumbling concrete. You name it. We were promised a luxury building and got anything but. Do NOT do business with Procasa or the Mizrachis. I know they have a new building going up on the beach somewhere. Protect yourself. Don't trust them.

    1 Votes
  • Gl
    GladysUrrutia May 26, 2014

    YO COMPRE UN APTO A PROCASA EN EDFI SOLARISDEL CANGREJO...MIL CIEN PRONLEMAS DE CONSTRUCCION . LA PUSCINA VINONDAÑADA DE ESTRENO. NUNCA SE GHICERON RESPINSABLES..CONSTRUCCION DE MALA CALIDAD. DESPUES ME QUISE METER EN UN PRIYECTO EN 2007 PUNE HILL, Y TUVE QUE PEDIR MI DINERO DE VUELTA $21500 Y GRACIAS A DIOSME LO DIERON ...ES LA FECHA MAYO 2014 Y LA CONSTRUCCION DE MI FASE NO SE HA HECHO...ME HUBIAN ROBADO, , , PERO LOS OLÍ A TIEMPO Y NO PUEDOERON ROBARME...NO COMRE NADA DE PROCASA...DONT BUY ANYTHING FROM PROCASA...GRAIAS PAPA DIOS ME SALVATES D UN ROBO!

    1 Votes
  • Da
    Dave Delmaro Jul 29, 2017
    This comment was posted by
    a verified customer
    Verified customer

    PROCASA is a horrible family/builder. Dealing with them is asking for trouble. I am an American. They made promises but did not deliver. It does not matter if it is in writing or not. They will fool you as that is what they are good at. Stay away from that kind of family/people. Who knows who breeds such rotten creatures but unfortunately, they exist and their names are listed above!

    0 Votes

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