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

In a surprising turn of occasions a prominent US-based business in the houseboating industry, has filed a criminal situation against Xoel Álvarez Mazaira, CEO of Mínimo Boats, declaring fraudulent activities and a Ponzi system. Minimo Boats SL Vigo Spain has escalated complying with the American firm's payment of 2.33 million euros for 18 devices, part of a bigger 120-unit order that needed to be canceled because of Mínimo Boats' inability to supply on time, some systems being delayed for approximately a year. The debate
increased when a 1.03 million euro down payment was suspiciously moved in the middle of the business's personal bankruptcy.


Xoel Álvarez Mazaira, CEO of Mínimo Boats


Mínimo Boats, as soon as celebrated for its ingenious drifting house layouts, is currently under analysis for stopping working to fulfill its enthusiastic dedications to its customer. The American firm affirms that only 12 of the assured 18 boats
were supplied, lots of with defects, and 2 in a pointless state. This violation of trust fund expands beyond monetary losses, as the United States firm declares Mínimo Boats drew away funds meant for their order to provide boats to various other customers, a timeless characteristic of a Ponzi
plan.


The rely on Mínimo Boats curdle when the last run into repayment suspension (insolvency procedures) and subjected its team to short-term layoff systems. The issue submitted in O Porriño court paints a grim photo
of Mínimo Boats' monetary mismanagement and supposed diversion of funds by Álvarez Mazaira for personal usage. The United States based company relentless quest of justice in this situation reflects not simply a fight against financial deception but likewise a stand against the erosion
of trust and partnership in the industry.