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CPIB Should Go And Check ERA

ahleebabasingaporethief

Alfrescian
Loyal
After all their Big boys say in court agent did nothing wrong and that many agents have done it before.

Garment, why waste time on Netizens when you have bigger tangible fishes to fry.
 
M

Mdm Tang

Guest
After all their Big boys say in court agent did nothing wrong and that many agents have done it before.

Garment, why waste time on Netizens when you have bigger tangible fishes to fry.

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from what i understand in any civil proceedings : defendants (for eg ) can say whatever they like and whatever that will help them win the case in hand...my questions therefore is whether the relevants authority can and will they pick up pieces here and there and investigate further ? :mad:
 
M

Mdm Tang

Guest
After all their Big boys say in court agent did nothing wrong and that many agents have done it before.

Garment, why waste time on Netizens when you have bigger tangible fishes to fry.


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Feb 6, 2009
ERA to appeal court order
Judge slams unethical agents who 'flip' properties for profit
By Selina Lum



ERA Realty Network, which was ordered by the High Court on Thursday to return $257,000 to a couple, has said it intends to appeal the court decision.


In a statement to the media, its president Jack Chua said: 'ERA intends to appeal the court decision that finds our company liable as we did not benefit from the transaction.'
Two ERA agents were slammed by High Court Judge Choo Han Teck for their unethical behaviour in the transaction of a two-bedroom downtown flat.

Mr Yuen Chow Hin, an IT company vice-president, and his wife, Madam Wong Wai Fan, a housewife, had let go of their two-bedroom downtown flat at $688,000. They took their ERA agent's word that this was the best price they could get.

What they did not know was that the buyer of their Riverside Piazza unit was the wife of their agent's boss, and that she re-sold it almost immediately for $945,000, making a hefty profit.

On Thursday, Justice Choo ruled in favour of the Yuens, who had sued ERA for the 'secret profit' made in the second deal.

The judge found that the conduct of agent Jeremy Ang and his boss, Mr Mike Parikh, senior group division director at ERA, amounted to breach of duty and fraud. He also had a stern reminder for the industry of its ethical responsibilities, as it had emerged in court that such practices were common.

The judge concluded that it was Mr Parikh who wanted to buy the flat in order to make a quick profit during the property boom. To distance himself from the deal, he used his wife, Madam Natassha Sadiq, as the buyer and Mr Ang as the seller's agent, the judge found.

Mr Ang was the link but Mr Parikh was the person behind the scheme, and his position made his subordinate's breach of contract even more reprehensible. The misconduct was of such magnitude that the judge said he felt bound to make the reasons clear in his judgment so that no property agent could now claim ignorance.

'When a property agent is engaged to sell or buy property, he has a responsibility to act in the interests of the person who appointed him - not his own, or his friends', or his relatives' or his boss', said the judge. 'This responsibility that the agent bears is the foundation of the ethical rules and contractual principles that prohibit an agent from acting in conflict of interests and reaping secret profits for himself or his friends.'
 

oli9

Alfrescian
Loyal
I would recommend that IRAS check on Mike Pariah's tax returns. Im sure going by way of his deceiving & snaky nature, he mustve hoodwinked the good office of our Income Tax department.
Im also sure that somewhere along the line, he couldve under declared his income, or do not report misc income received by him. It easy to spot a snake in the bush. Its even easy to flush them out from the forest thickets. Killing them dont require much skill. A stick would suffice.
 

nextinfidel

Alfrescian
Loyal
will the courts go and dig out everything? check every single transaction of every agent and team leader to see if there's any sort of monkey business going on?

what about those buyers, sellers? will they all come forward and demand for all their sub-sales transaction to be thrown into the light?

either that or the govt steps in and takes over the whole property re-sale market. NTUC Realty Network, Temasek Realty Network comes up.
 

halsey02

Alfrescian (Inf)
Asset
I would recommend that IRAS check on Mike Pariah's tax returns. Im sure going by way of his deceiving & snaky nature, he mustve hoodwinked the good office of our Income Tax department.
Im also sure that somewhere along the line, he couldve under declared his income, or do not report misc income received by him. It easy to spot a snake in the bush. Its even easy to flush them out from the forest thickets. Killing them dont require much skill. A stick would suffice.

Sulphur would be the best thing for snakes...a prolong suffering till death as the sulphur eats into their skin...

I am sure, 'the dogs' are snapping at the heels of this Mike Pariah & his wife, unless they have done 'community work' and contributed vastly to their 'community', then; they will do some damage control.

The worse will be, they will fade out of sight, but still crafting their 'skills', in the background, and rolling in the cash!:p
 
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