IN THE INTEREST OF THE PUBLIC
In a shocking revelation, loan agreements presented to the Miami Dade court by Hugo Sluimer and Covast real estate founder Rob Koster have been found to be usurious and criminally usurious. These agreements contained exorbitant interest rates, with the highest reaching an astronomical 55% per year. In Florida, such rates are not only considered illegal but are also deemed a 3rd degree felony.
According to Florida law, the maximum legal interest rate stands at 17%. However, Sluimer and Koster, both from Woerden, the Netherlands, appeared to be seeking an unjustifiably large compounding payout even though they knew the principle had been paid in full. The true nature of these usurious agreements was not immediately apparent, but thanks to the expertise of a forensic accountant, their unlawfulness was swiftly uncovered and brought to the attention of the Honorable Judge who dismissed the case in its entirety.
It is important to note that in Florida, if loans are deemed usurious, they cannot be legally collected upon. However, Sluimer and Koster attempted to pursue collection regardless of this legal impediment. In addition, the duo refused to provide receipts or any form of accounting, which constitutes a violation of §687.08, Fla. Stat. Had Sluimer and Koster complied with the law and furnished the necessary receipts and statements, the illegal nature of the agreements would have been exposed right away. The refusal to provide such documentation warrants the forfeiture of all interest accrued on the principal of the loans according to Florida law..
As per Florida statutes, the penalty for usury is twice the amount of interest reserved, taken, or extracted. Consequently, Koster and Sluimer may be required to repay any interest received or reserved for refusing to provide receipts, along with an additional sum equal to twice that amount for engaging in usurious lending. This potential outcome could amount to millions of dollars, and it is possible that the Duo could face criminal prosecution in the state of Florida.
In a further display of disregard for the law, Koster and Sluimer extended their transgressions. Koster and Sluimer knowingly provided false information to the court which can be classified as malicious prosecution, potentially exposing the them to additional liability for slander. Sluimer was recorded in a conversation where he confirmed that the he and Koster had fabricated facts which was an attempt to mislead the judge and public. In addition, Sluimer fraudulently claimed to be a Monaco Citizen over and over again in the suit which Rob Koster also played along with.
In conclusion, the loan agreements presented by Hugo Sluimer and Rob Koster to the Miami Dade court have been determined to be usurious and criminally usurious, with exorbitant interest rates well above the legal limit in Florida. The forensic accountant's expertise revealed the true nature of these agreements which may have been a factor leading to the dismissal of the case. Despite the illegality of the loans, Sluimer and Koster attempted to pursue collection and refused to provide the necessary documentation, violating Florida law while they knew the principle had been paid back. Consequently, they may be required to repay any interest received or reserved and could face criminal prosecution. Furthermore, their provision of false information to the court and fabrication of facts may expose them to additional liability for slander and malicious prosecution. The potential consequences of their actions could result in substantial financial penalties and legal repercussions.