Body Builders in real estate scam

[HOG]

In the Herald on Sunday paper page 3

The $15m property scam. They say there is four people are at the centre of an investigation into an elaborate real estate scam, which has fleeced banks of millions of dollars. The Herald on Sunday understands that two of the people being investigated are well-know in the body-building circles.

One source said the scam was know as “The Body Builder Case”.

[diamond]

own up whoever it is.. :pfft:

[MasterTel]

It's not me, unfortunately - but I'd love to know who it is!

It does give new meaning to the property investment term 'negative "gear"ing'! :pfft:

[waldo]

Well....judging by the amount of money involved there is a jail sentence behind this for whoever is responsible. Doesn't sound like the scam was foolproof, unless whoever it is was planning on skipping the country before they were found out. All I hope is they were smart enough to move to a non-extradition country.

Don't mess with the banks or the IRD....