Australia, Feb. 15, 2007
Ms Santosh Kumari
Isn't that a pretty bad deal for me?, When NRI couple thought
they were set for life when they invested their entire life savings
in a development project.
Jim Singh's wife, Sarbjit, was working in Byron Bay in 2003,
when her workmate approached her for investment opportunity in
a proposed $8 million retirement village at Coomera, on the Gold
Coast. Reserve Concierge, a company registered with the Australian
and Securities Investment Commission was promoting this project.
Wnd of 2003, Mr. Singh became suspicious and contacted the Gold
Coast City Council to inquire about the development application
for the retirement village and he was told tha company had lapsed
few months ago.
Singh along with few other investors then tried contacting Mr
Yeo, but one of the directors of the company said, he did not
want to discuss what had happened to the retirement village project.
This week , in court house, Singh asked Yeo if he would go to
mediation. But Yeo declined any mediation.
Right away, Yeo proceeded with his application for an apprehended
violence order (AVO) taken out against Singh. AVO means fears
violence or harassment from their harasser and the AVO hearing
is set for later this month.
Most of the investors feels that they have lost their money but
refused to give up and approached the court for help. Investors
met in Brisbane and appointed a receiver in an effort to recoup
their money and two banks also wanting their money back, it soon
became evident it was a lost cause.
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