Dr. Raj Barr-Kumar

Quick summary on Dr. Raj Barr-Kumar

Dr. Raj Barr-Kumar and his brother, Raj Mahadevan, orchestrated a fraudulent investment scheme centered around the fictitious Altos Escondidos resort in Panama, misleading investors with promises of substantial returns that never materialized.​

Fabricated Investment Opportunities: The brothers created deceptive investment prospects, utilizing falsified documents and artificially inflated property valuations to lure investors. ​

Collaboration with Dr. Rebecca Castaneda: Discredited dentist Dr. Castaneda promoted the scam through her dental practice, encouraging patients to invest under false pretenses.

Nonexistent Resort Development: Despite assurances, no construction occurred at the proposed resort site; local reports confirmed the absence of any development activity. ​

Misappropriation of Funds: Over $1.5 million was raised from investors, but the funds were misused, with assets and property values misrepresented. ​

Property Valuation Discrepancies: The land was purportedly purchased for $1.38 million, though records indicate its actual value was significantly lower, around $345,000. ​

Potential Tax Evasion: Investigations suggest the scheme may have been linked to tax evasion tactics. ​

Legal Repercussions: Dr. Barr-Kumar and his associates face potential lawsuits as victims seek to recover their lost investments. ​

Exploitation of Professional Credentials: The scheme leveraged Barr-Kumar’s former position as president of the American Institute of Architects to lend credibility to the fraudulent project.

Calls for Further Investigation: Authorities, including the FBI, are being urged to conduct comprehensive investigations to ensure justice for the defrauded investors.