SINGAPORE: A Singaporean woman bought three semi-detached properties for three foreign friends, intending to transfer ownership of the property to them once they obtained Singapore citizenship.
Song told Wang that he would not be eligible to buy the property in his own name, as he was a foreigner. She offered to buy it on his behalf and to transfer ownership of the property to him once he obtained Singapore citizenship. The three China nationals subsequently stopped paying for the properties, defaulting on all three sale and purchase agreements when their progressive payments became due but went unpaid.
"In Singapore, land is a scarce commodity, and residential properties are priced to match. In particular, freehold and landed properties are especially prized by many," said Mr Hon. He asked for the sum of about S$1.6 million to be confiscated. The sum was initially meant to be paid by Fairview Developments to Song, as she is the purchaser of the three properties on paper. Song is now bankrupt.
The three Chinese must be banned from entering SG
Lock her up.
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