Cabo Platinum Scam: Mexican Authorities Shut Down Headquarters

Fraud, embezzlement, commingling funds, providing fraudulent financial documents, failure to report proper income, and refusal to provide receipts in business-related operations—these are just some of the serious accusations that Danette Reid and Mishan Andre, the owners of Cabo Platinum, are now facing.

The company's partners, Skyler Schroeder, Javier Arregui, and Chief Administration Officer Sonia Navarrete, are also under investigation for altering financial documents during this process. The situation has escalated to the point where Los Cabos Director of Tourism, Donna Jeffreys, Los Cabos Human Rights Counselor, the Mexican Authorities, and the Federal Consumer Protection Agency (PROFECO) have all stepped in to assist an American citizen who has fallen victim to this massive fraud and scam. Mexican authorities are not taking this situation lightly, as immediate closure seals have been placed at the location, stopping operations and showing the severity of these issues.

One of the primary victims, David Oancea, entrusted Cabo Platinum with managing his luxury property in Los Cabos. However, in April, he terminated their services after discovering that they were providing him with false income documentation. The company created a “virtual bank account,” which they called the “homeowners’ portal,” where the financial fraud took place. They would debit and credit fictitious numbers so the homeowners would believe the funds were being held properly and were an accurate representation of the money they were holding. Once Oancea realized this was just a financial scam, he demanded the money they were allegedly holding in this “virtual bank account.” Upon this demand, Cabo Platinum stated they would wire him the money, but no money ever appeared.

They also refused to provide receipts for the millions of dollars they spent from his homeowner's account, which they solely controlled, draining the account to zero. When receipts were demanded, Cabo Platinum revealed that they do not provide them or bank statements due to their failure to report proper income each year. Even more alarming, they failed to provide proof of separate bank accounts for all the homeowners' funds they managed. Instead, they illegally commingled multiple homeowners' funds into a single large bank account outside of Mexico based in the United States. This account was allegedly used for their personal benefit, turning Oancea's funds into a personal piggy bank in this elaborate scam.

After Cabo Platinum was terminated, the large sum of money they held for Oancea inexplicably vanished without any receipts. Instead of providing the necessary documentation, Mishan Andre and Danette Reid allegedly used the money for their lavish lifestyle, indulging in trips around the world. Following the termination, the situation further deteriorated when a local judge placed a restraining order on both individuals after they broke into Oancea’s property. They even left threatening voice recordings, attempting to intimidate him by claiming they would have him extradited out of the country if he did not keep quiet regarding their operations.

Mishan Andre & Danette Reid: Cabo Platinum Owners, Scam Artist & Con Artist

Oancea, however, is not backing down. "I'm not scared of these guys," he said. "They think they can intimidate me and try to run me out of this country after stealing from me. I am bringing the pain right back to them, and at the end of the day, karma will serve its purpose." It's worth noting that neither Danette Reid nor Mishan Andre are Mexican citizens; one is Canadian, and the other is American. Yet, they threatened extradition from a country they are not even from. "It's people like them that give this country a bad name," Oancea added. This entire situation has all the hallmarks of a classic scam, with deceit and manipulation at every turn.

In addition to the criminal investigation in Mexico, Cabo Platinum is also embroiled in nearly $5 million in litigation in the United States. In this case, they provided manipulated documents to deceive a U.S. judge through a rushed order. After being terminated, and as the scandal began to unfold locally, manipulated financial documents were submitted to the United States in an attempt for an order to block Oancea's home from being occupied.  If they could not have total control of his money and who occupied it, they did not want anyone else to. They proceeded to fabricate stories to upcoming guests of his property and told them last minute the owner has declined their access, leaving many of them irate at the homeowner. However, that is a far stretch from the truth. The new elaborate scam by these two con artists would include hiding the truth from upcoming guests that Cabo Platinum was terminated back in April, in which a termination letter was served to Cabo Platinum in Mexico, ending their business relationship immediately. Instead of telling the truth, the two waited to the arrival dates, then they would proceed to tell the guests the owner declined access and then moved them to another location. What’s even more concerning, weeks and months before the guest’s actual arrival dates they already had contacted other homeowners to have the guests’ reservations rebooked, where they earned an additional 20% commission. They have falsified statements to the judge in the United States declaring under perjury that they attempted to enter Oancea’s home, but he refused access. But signed declarations under perjury from the Homeowners Association where the property resides states the complete opposite. Stating Cabo Platinum never once asked to enter his property. Security camera footage from the association can also validate this as well.  This was an elaborate scam to drain the remaining $300,000 they were owing Oancea. Each guest they moved to a new location, resulted in debits to Oancea ‘s account up to $40,000 per relocation cost. Doing this without his knowledge or permission illegally. At the same time painting the picture to the guests that they saved the day and their vacation to Los Cabos as well. Indeed, one of the most clever and elaborate scams to be done in the real estate industry.

Oancea stated he was furious, as the entire reason he has his home is to rent it, not have it sit idle. He cannot believe the U.S Judge has fallen for this deceit, but he knows the truth will eventually always shine bright. This suit in the states was a clever scare tactic intended to dissuade Oancea from pursuing legal action in Mexico, where the actual fraud is taking place and continues to affect other homeowners. Oancea is more focused on the Mexican suit, as the penalties for these crimes are very severe there. These types of financial crimes are acted upon much more seriously in Mexico than in the United States when an American Citizen is the victim. The Mexican authorities have since taken decisive action, and Cabo Platinum's business location is now sealed by the government. This marks a significant step in protecting American citizens in Mexico from fraudulent activities.

Oancea expressed his gratitude, stating, "I would personally like to thank Los Cabos Director of Tourism, Donna Jeffries, Attorney Alejandro Maldonado, Los Cabos Human Rights Counselor, and the Mexican Authorities. I have nothing but respect and praise for these individuals for helping to ensure that justice can be served."

If you or someone you know has been affected by the Cabo Platinum Scam or is a current or previous employee and is concerned about the actions of Danette Reid and Mishan Andre, it is crucial to seek legal advice immediately. The alleged fraud and embezzlement involved in this scam are serious crimes that should not go unpunished. For more information on how to protect your assets and seek justice, contact a legal professional specializing in international fraud cases.