A man identified as Leonardo “N” faces formal charges in Cabo San Lucas after allegedly collecting more than 2.5 million pesos (approximately $124,000 USD) from a buyer for an apartment that was never built or delivered, according to the Baja California Sur Attorney General’s Office (PGJE).
A control judge accepted the charges and set a four-month window for a complementary investigation. That deadline closes on July 6, 2026. No conviction has been reached.
Two Payments, No Apartment
According to the PGJE, Leonardo “N” acted as a representative of a construction company when he collected the funds. The victim paid a deposit of 200,000 pesos (about $10,000 USD) in June 2022, then made a second payment exceeding 2.3 million pesos (roughly $114,000 USD) in July 2022.
The suspect promised delivery of a finished apartment unit in Colonia Lienzo Charro, a residential neighborhood on the inland side of Cabo San Lucas, by December 15, 2023. That deadline passed without construction or delivery of the unit.
Pre-Sale Fraud: A Known Risk in Los Cabos
The case follows a pattern familiar in fast-growing Mexican resort markets. Pre-sale fraud occurs when developers or their agents collect partial or full payment for housing units that are never completed. Buyers often have limited recourse, especially when they purchase through informal agreements or from companies with thin track records.
Los Cabos has one of the most expensive real estate markets in Mexico. Rapid development along the tourist corridor and in surrounding neighborhoods has created conditions where unscrupulous operators can exploit demand. In January 2026, a separate group of foreign residents in a Los Cabos luxury community alleged fraud after homes were delivered with serious defects and without basic services, according to Mexican media reports.
What Buyers Should Know
Under Mexican law, the suspect’s identity is partially protected during the investigation phase. “Leonardo ‘N'” is a standard legal convention, not a pseudonym. The PGJE has not named the construction company involved.
Buyers considering pre-sale properties in Baja California Sur should verify that developers hold valid permits from the municipal government, confirm land title through a notario público, and use an escrow arrangement when possible. The formal charges in this case were confirmed by Colectivo Pericú, a Baja California Sur news outlet.