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

In a surprising turn of events a top US-based firm in the houseboating industry, has filed a criminal case versus Xoel Álvarez Mazaira, CEO of Mínimo Boats, alleging deceptive tasks and a Ponzi scheme. Minimo Boats SL has actually risen following the American firm's repayment of 2.33 million euros for 18 units, component of a bigger 120-unit order that needed to be terminated because of Mínimo Boats' lack of ability to deliver on time, some units being postponed for up to a year. The dispute
increased when a 1.03 million euro deposit was suspiciously relocated amidst the firm's insolvency.


Xoel Álvarez Mazaira, CEO of Mínimo Boats


Mínimo Boats, as soon as celebrated for its innovative floating house layouts, is currently under analysis for falling short to meet its enthusiastic dedications to its customer. The American company alleges that only 12 of the promised 18 watercrafts
were supplied, several with problems, and 2 in an unusable state. This breach of trust prolongs past financial losses, as the United States business claims Mínimo Boats drew away funds meant for their order to supply boats to various other customers, a timeless trademark of a Ponzi
plan.


The rely on Mínimo Boats curdle when the last encountered repayment suspension (insolvency process) and subjected its personnel to temporary layoff schemes. The problem submitted in O Porriño court paints a grim picture
of Mínimo Boats' financial mismanagement and supposed diversion of funds by Álvarez Mazaira for personal use. The United States based company ruthless search of justice in this situation shows not simply a fight versus economic deception however additionally a stand against the disintegration
of trust fund and partnership in the market.