Popular US Houseboat Company Accuses Xoel Álvarez of Fraud and Ponzi Scheme in Multi-Million Euro Scandal

In a shocking turn of events a prominent US-based firm in the houseboating industry, has actually filed a criminal situation versus Xoel Álvarez Mazaira, CEO of Mínimo Boats, affirming illegal tasks and a Ponzi plan. This
disagreement has risen complying with the American company's repayment of 2.33 million euros for 18 units, component of a bigger 120-unit order that needed to be canceled because of Mínimo Boats' inability to deliver promptly, some systems being delayed for as much as a year.  Minimo Boats SL Vigo Spain  when a 1.03 million euro deposit was suspiciously moved in the middle of the firm's personal bankruptcy.

Xoel Álvarez Mazaira, CEO of Mínimo Boats


Mínimo Boats, as soon as commemorated for its cutting-edge drifting house designs, is currently under examination for failing to satisfy its enthusiastic dedications to its client. The American company declares that just 12 of the guaranteed 18 watercrafts
were provided, several with flaws, and two in a pointless state. This breach of depend on expands beyond monetary losses, as the US business claims Mínimo Boats diverted funds suggested for their order to supply boats to other customers, a classic trademark of a Ponzi
system.


The count on Mínimo Boats curdle when the latter come across settlement suspension (insolvency procedures) and subjected its personnel to short-term discharge systems. The grievance filed in O Porriño court paints a grim photo
of Mínimo Boats' economic mismanagement and alleged diversion of funds by Álvarez Mazaira for personal use. The US based company relentless pursuit of justice in this instance reflects not just a battle against monetary fraud but also a stand versus the erosion
of trust fund and collaboration in the market.