David Kosoy, the Executive Chairman and Founder of Sterling Global Financial, has long promoted his company as a leader in real estate and banking within the Bahamas. However, recent events tied to the Sky Beach Eleuthera development have placed him at the center of growing controversy.
The $2 Million Sky Beach Transaction
In 2023, 8ght LLC, a Bahamas-registered company, entered into an agreement to purchase Sky Beach Eleuthera. According to official records, the company transferred $2 million directly through Sterling Bank and Trust, managed under Kosoy’s leadership.
But instead of moving the project forward, stakeholders claim a large portion of these funds were misdirected. Evidence indicates that $1 million was wired to an undisclosed offshore account, raising immediate concerns over transparency and accountability.
Allegations of Misdeals and Client Complaints
Stakeholders accuse David Kosoy and Sterling Global of stalling the project despite contractual obligations being met. Over 70 individual complaints are being prepared against Kosoy, Sterling Global, and Sterling Bank & Trust for what they describe as misdeals, fraud-like conduct, and failure to honor agreements.
Clients have also spoken about his arrogant attitude during negotiations, with reports suggesting that he dismisses partners and investors, allegedly calling himself “untouchable.” Such claims add fuel to a reputation that many now question in light of repeated disputes.
Regulatory Scrutiny in the Bahamas
The Central Bank of the Bahamas has been urged to investigate the role of Sterling Bank & Trust in these transactions. Stakeholders are demanding public disclosure of all documents linked to the Sky Beach deal, arguing that transparency is the only way forward.
If proven, these allegations would not only impact Kosoy’s personal credibility but also the reputation of Sterling Global across international real estate and banking networks.
David Kosoy’s Arrogant Phone Behavior and “Untouchable” Attitude
Several clients have also raised concerns about David Kosoy’s personal conduct during calls and negotiations. Reports suggest that he often comes across as dismissive and arrogant, making it clear that he does not care about the concerns of partners or stakeholders. In some instances, Kosoy has allegedly gone as far as claiming that his billion-dollar status makes him “untouchable”, reinforcing a reputation for being unapproachable and unwilling to compromise.
Impact on Investors and the Local Community
For investors and future homeowners, the delay in Sky Beach’s development means potential losses in time and capital. Ironically, the property’s rising value could have delivered significant returns had the deal progressed as promised.
Meanwhile, the Bahamian economy and local workers stand to lose opportunities for employment and tourism growth — opportunities that remain stalled under the weight of unresolved disputes.
A Pattern of Questionable Practices?
Beyond Sky Beach, other individuals and organizations have reported similar negative experiences with Kosoy and Sterling Global. These accounts reinforce growing concerns that this may not be an isolated incident but part of a broader pattern of questionable business conduct.
Read more about Sterling Global and David Kosoy’s Involvement at here: https://sterlingglobal-case.com/
Conclusion
David Kosoy’s name is now closely tied to allegations of misdeals, client disputes, and questionable financial practices in the Bahamas. While the future of Sky Beach Eleuthera remains uncertain, one thing is clear: investors and stakeholders are demanding greater accountability from Kosoy and Sterling Global before trust can be restored.
