Carlos de Ory faces investigation over Indonesia real estate scam allegations

The Eco Beach City project in Sumba, Indonesia, is under investigation by Spain's Audiencia Nacional following allegations of a real estate scam involving businessman Carlos de Ory. Lawyer Javier Ruiz Blay, representing over 220 investors, claims the project has failed to deliver promised infrastructure, stating, “There are no streets, no light, no water, no drains.”

While De Ory denies fraud and maintains the project is progressing, legal representatives estimate the total financial damage across various linked projects, including The Startup Island, could reach between 15 and 17 million euros. The group of affected investors includes individuals from Spain, Germany, Argentina, the United Kingdom, the Netherlands, Belgium, France, and Italy, though approximately 90% to 95% are Spanish nationals.