Devilaz 0 Report post Posted August 3, 2007 On TODAY's paper page 10, there is one property agent got jailed.Rasif's alleged aide gets five years and five months.Story as follows:The property agent who alledegly conspiredwith missint lawyer David Rasif to pocject almost $1 million during the sales of 22 properties was setenced yesterday to five years and five months jail.Mr Goh, a former director of a real estate company, had overstated flat valuations in clients' applications for bank loans, thereby convincing banks and CPF board into providing higher loan amounts.In passing sentence, District Judge Mr Liew said the sam was "organised" and "well-planned". The amount involved in the scam was also "considerable", he added.Mr Goh had earlier pleaded guilty to 22 conspiracy charges and 14 other forgery charges.He would propose to sellers' agent a higher price after showing buyers the flat for sale. This inflated price included purported "renovation cost" for the flat, which was paid to Danis Interior Design - a "shell" business set up by Goh, 37. Renovation works, howver, never take place.The cashback monies would then be made through Rasif's law firm, which would then deduct a share, as "legal fees". In all, Danis Interior Design pocketed a total of $917,500.After investigations started in 2005, Goh claimed Rasif told him to forge documents, and to find someonre to sign them. These documents were used to decive Commercail Affairs Department Investigators.In mitigation, defence lawyer Peter Fernando pointed finger at Rasif as the mastermind in the offences. Mr Fernando also argued that GOh's financial share in the scam was minimal - ranging between $5,000 and $7,000 per tranaction.The banks which had approved the inflated houseing loans also stood to gain financially from the additional interrest earned, argued Mr Fernando.Judge Liew, however, said the offence committed had "an adverse impact on bainking transactions".Goh is the first to be charged in Court for his role in the scam. The whereabouts of Rasif, who dissapared last year allegedly taking with him $12 million of his clients money, are not known. Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted August 3, 2007 Stupid agent, clever lawyer. Just saw somewhere in another thread, someone said better to be lawyer than agent?? Hehe...Anyway, isn't cashback scams involving the owners too?? How come only the agent kana jailed... Share this post Link to post Share on other sites
Devilaz 0 Report post Posted August 3, 2007 not sure also... just read on todays paper.. Share this post Link to post Share on other sites
