Moorings Ltd - Civil Fraud

Posted on Sunday, July 22nd, 2012 at 2:10pm CDT by 76c68c1d

Product: Sailing Yacht

Company: Moorings Ltd

Location: 93 North Park Place Blvd
Clearwater, Fl, 33759-3917, US


Category: Other

In September 2011 I purchased an 'out of charter' sailing yacht in Tortola in the British Virgin Islands through the Moorings Yacht Brokerage. The Moorings Yacht Brokerage is an affiliate company of the Moorings Ltd and both have their head offices in Florida. The Moorings Ltd has a charter base and maintenance and repair facility in Tortola in the BVI.

The yacht was privately owned but managed for charter by the Moorings Ltd. The Moorings Ltd was responsible for all the maintenance and repairs to the yacht under management. The Moorings Ltd knew that the yacht was for sale and marketed by their affiliated brokerage company. Whilst the yacht was under management certain defects to the engine were camouflaged/concealed by them by the application of an epoxy putty to the engine's injector pump and timing casing which leaked diesel and water. These were temporary repairs which were concealed by painting the areas concerned with the same color engine paint. The Moorings Ltd knew that the yacht was on the market for sale but intentionally failed to disclose said defects to me and to my Surveyor who was appointed by me to survey the yacht prior to purchase. They knew that the defects were material and that if I was made aware of it I would not have purchased the yacht. As a result of their non disclosure of the defects I continued to use the engine until the defects were discovered. Using the engine probably caused some damage. Besides the damage the defects have to be repaired. The cost of repair is astronomical. As a result I have suffered damage in excess of $50K.

I have photographs and physical evidence to back me up.


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