Troubled R G Hotels problems continue to mount

THE FORMER owner of RG Hotels, has added a new twist to the troubled company’s tangled skein, with filing of a criminal complaint against the investors who purchased the business.

The action was filed Monday by Armando Fuentes, attorney for the founder of the copmany, Rugiere Galvez, and is directed against shareholders and executives of Guardian Finance Group reports La Prensa..

The complaint states that in October 2014, Galvez signed a contract for the sale of his assets for $60.7 million, with a future consideration of $110 million.

But he said that Guardian Finance Group was replaced a month later in the sale by a Nabali Investment Corporation. Galvez said he was “convinced” to sign a different contract.

The company has been involved in a series of controversies surrounding a $30 million bond issue, a loan that resulted in the foreclosure of social areas of projects promoted by the developer and a decision that granted it retroactive bankruptcy to 2012.