Recent victims of a financial scam on the Gold Coast are struggling not only with their finances, but also with their lives. Terminally ill and cancer stricken patients have fallen victims to this scam, where one investor was forced to rent after losing his $900,000 investment.
All About Property Developments Pty Ltd, was behind the scheme operated by securing loans for victims through Westpac. It was later found out that the development company had no assets and owed as much as $2.5 million to creditors. Investors have lost a total of $13 million in total.
This situation only shows how cold blooded and heartless financial scams operate. Verify the companies that you involve yourself with and consult a registered financial planner to ensure the legitimacy of your transactions.
Read more about this on the Property Observer website.
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