The guy must have realised that people will be checking all his transactions.
http://67862000.com/recentsales.aspx?pid=10022
http://67862000.com/recentsales.aspx?pid=10022
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ERA Mike Parikh Removes List of Properties Sold by Him
- Thread starter scroobal
- Start date
Who is he?
Now you see him, now you dont. This Mike Parikh sure can wriggle his way out. Just like a snake!
who is he???????
Feb 5, 2009
ERA ordered to pay $257k
By Selina Lum
Mr Yuen Chow Hin and Madam Wong Wai Fan engaged ERA agent Jeremy Ang (next picture) to sell their apartment but Ang acted in conflict of interest. -- PHOTOS: ZAOBAO
View more photos
REAL estate agency ERA has been ordered by the High Court to cough up $257,000 and other expenses to a married couple whose property agent had acted in conflict of interest.
Mr Yuen Chow Hin and Madam Wong Wai Fan engaged ERA agent Jeremy Ang to sell their downtown apartment in mid-2007.
But soon after soon after the couple granted Madam Natassha Sadiq the right to purchase the property for $688,000, the two-bedroom apartment at The Riverside Piazza was resold for $945,000.
It was only later that the couple found about the second deal and that the woman who bought their flat, then flipped it for a profit, was married to the boss of their housing agent.
The couple sued ERA Realty Network in the High Court seeking $257,000 - the difference between the two sale prices.
On Thursday, Justice Choo Han Teck ruled in favour of the couple and found that the conduct of the agent Jeremy Ang and his boss, Mike Parikh, amounted to breach of duty and fraud.
The two men were "ethically wrong and in breach of contract by reason of creating a conflict of interest between their client and themselves", said the judge.
When a property agent is engaged to sell or buy property, he has a responsibility to act in the interests of the person who hired him - not his own, or his friends', or his relatives' or his boss', said the judge.
WHAT HAPPENED
June 2007: The Yuens appoint Mr Ang to sell their Riverside Piazza apartment.
The agent says the market value is between $650,000 and $700,000, and says a 'regular client' is interested in buying the property. No valuation is done and Mr Ang omits to mention that the interested buyer is his boss' wife.
Mr Ang does not advertise the property for sale.
July 7 and July 9: Mr Parikh advertises the property for sale on behalf of his wife, Madam Sadiq, before she has an option to buy.
July 12: The Yuens give Madam Sadiq an option to buy for $688,000.
July 14: Mr Parikh places a third ad, setting the price at $945,106 and saying the property has en bloc potential. A buyer responds, and Mr Parikh handles the deal.
July 18: Madam Sadiq grants the buyer an option to buy at $945,000.
July 25: The new buyer exercises the option.
July 26: Madam Sadiq exercises her option from the Yuens.
October 2007: The couple discover the flat was resold after the CPF Board asks why they sold well below the valuation obtained by the new buyer.
Dec 19, 2007: The couple find out that Madam Sadiq is married to Mr Ang's team leader, Mr Mike Parikh.
WHAT THE JUDGE SAID: Justice Choo Han Teck said that Mr Parikh and Mr Ang were ethically wrong and in breach of contract by creating a conflict of interest between their client and themselves.
ARRANGEMENTS BASED ON DECEPTION
'Jeremy's duty to act honestly required him to disclose his boss' interest in the sale and purchase. The arrangements made and carried out by him in collaboration with Mike and his wife Natassha depended on deception.'
- Justice Choo
MANY OWNERS, BUYERS AT RISK
'Mike has 200 agents working for him and we do not know how many agents the defendant has, nor how many housing agents there are in all. This kind of misconduct is never easy to discover because it is carried out in stealth and in breach of trust and far too many homeowners and potential purchasers are at risk. The defendant and its two agents have done a grave disservice to the honourable and honest members in their rank.'
- Justice Choo
ARRANGEMENTS BASED ON DECEPTION
'Jeremy's duty to act honestly required him to disclose his boss' interest in the sale and purchase. The arrangements made and carried out by him in collaboration with Mike and his wife Natassha depended on deception.'
- Justice Choo
MANY OWNERS, BUYERS AT RISK
'Mike has 200 agents working for him and we do not know how many agents the defendant has, nor how many housing agents there are in all. This kind of misconduct is never easy to discover because it is carried out in stealth and in breach of trust and far too many homeowners and potential purchasers are at risk. The defendant and its two agents have done a grave disservice to the honourable and honest members in their rank.'
- Justice Choo
http://67862000.com/projects.aspx?pid=10027&style=1
If you are thinking about selling, buying or renting a unit in Caribbean, call the specialist that you can trust - ME!
If you are thinking about selling, buying or renting a unit in Caribbean, call the specialist that you can trust - ME!
in 4 days the property has resold for 940K, this kind of deal is very obvious "sub-sales", it's common among sneaky agents reaping secret profits,
if the vendor pursuit the claim, he will success in his claim against the agent, go ahead!!!
better get Lee and Lee to act, 100% guarantee win!!!
if the vendor pursuit the claim, he will success in his claim against the agent, go ahead!!!
better get Lee and Lee to act, 100% guarantee win!!!
I'm sure Jeremy Ang had told the owners to trust him too.....never never trust an agent. Bring them go circle & run around instead of losing $$ by tursting them!
Simple.....don't engage ERA. They have been proven to be unethical.
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