Ambergris Daily had an update on the Sapphire Beach developers the other day. According to a guest post on the site, David Peterson plead guilty to one of the many charges leveled by the Feds. Peterson will reportedly be sentenced sometime in the coming months to eight to ten years of federal prison time. As usual, I have to provide a disclaimer. The writer identifies himself as someone who invested in a Peterson scheme in Florida.
What we don't know is what will happen to Sapphire Beach and what has been developed to date. The website is still up and it appears as though sales (or at least attempted sales) continue, although the last entry in the site's photo blog is from February 14th -- five days before I arrived.
David Peterson was sentenced to 7.5 years in Prison on Monday, September 12th.
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