Cross-border real estate investment fraud: How to avoid overseas real estate investment fraud?
Case Overview:
Mr. Chen invested $100,000 in a foreign vacation property through an overseas real estate agent. The agent claimed the property would provide stable rental returns and provided detailed property photos and a fraudulent contract. However, after making the payment, Mr. Chen received no rental income, and the agent disappeared.
Legal Response:
Contract Review and Risk Assessment: Mr. Chen provided the contract and payment receipt to Financial Legal Aid. The law firm discovered numerous unclear clauses in the contract and confirmed that the agent had not provided accurate property information.
Cross-border Asset Investigation:
Financial Legal Aid conducted an international investigation and discovered that the real estate agency was not registered locally and that funds were being transferred to multiple overseas accounts.International Arbitration and Litigation:
Financial Legal Aid assisted Mr. Chen in initiating international arbitration proceedings, seeking the return of his investment and pursuing legal action against the real estate agency.
Case Highlights:
1. The law firm assisted Mr. Chen in initiating international arbitration proceedings, seeking the return of his investment, and pursuing legal action against the agency. Payments should always be made through trusted channels, avoiding transfers to personal accounts. If a contract term is unclear or in doubt, consult an attorney promptly and review the contract to avoid falling into the trap of non-compliant clauses.
