SINGAPORE: A property agent entrusted with money from a client for the purchase of a condominium unit pocketed about S$132,800 of it, using most of it to renovate his own home.
He had to ensure that the fees were made out in cheques to the company, and he was to hand over the cheques to his firm once he received them. After viewing some units and discussing with Lim, the Australian woman signed an option on Jun 9, 2015, to buy a condominium unit.The purchase price of the property was S$765,558, said Deputy Public Prosecutor Mansoor Amir.
These were sums between about S$3,200 and S$55,000 over 13 occasions, and were for fees such as partial stamp fees, conveyancing fee, and balances of the purchase price.Of the sum of S$327.430.60, Lim issued two cheques to the developer, one for about S$114,800 in August 2015, and another for about S$76,600 in February 2016.However, Lim used the remaining S$132,814.02, spending S$82,945 on renovating his own home, and the rest on home furnishings like furniture and air-conditioning.
Only two years jail! Not a deterrent at all for dodgy real estate agents! Poor victim left in financial ruin due to greed of an agent!! huttonsSG
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