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Prominent US Houseboat Company Accuses Xoel Álvarez of Fraud and Ponzi Scheme in Multi-Million Euro Scandal
In a surprising turn of events a leading US-based firm in the houseboating sector, has filed a criminal instance versus Xoel Álvarez Mazaira, CEO of Mínimo Boats, declaring illegal tasks and a Ponzi scheme. This
conflict has risen following the American firm's settlement of 2.33 million euros for 18 devices, component of a bigger 120-unit order that needed to be canceled due to Mínimo Boats' failure to provide on schedule, some systems being postponed for approximately a year. The conflict
increased when a 1.03 million euro down payment was suspiciously relocated amidst the company's personal bankruptcy.


Xoel Álvarez Mazaira, CEO of Mínimo Boats


Mínimo Boats, as soon as celebrated for its ingenious drifting residence styles, is currently under scrutiny for failing to satisfy its enthusiastic commitments to its client. The American company alleges that only 12 of the guaranteed 18 watercrafts
were supplied, numerous with problems, and 2 in an unusable state. This violation of trust fund expands beyond financial losses, as the United States business declares Mínimo Boats diverted funds implied for their order to provide watercrafts to various other clients, a traditional hallmark of a Ponzi
plan.


Minimo Boats SL in Mínimo Boats curdle when the last run into payment suspension (personal bankruptcy proceedings) and subjected its staff to temporary layoff systems. The grievance filed in O Porriño court paints a grim image
of Mínimo Boats' financial mismanagement and claimed diversion of funds by Álvarez Mazaira for individual use. The United States based company unrelenting quest of justice in this situation reflects not just a battle against economic deception yet also a stand against the disintegration
of depend on and collaboration in the industry.
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