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SINGAPORE — When a friend lent him S$1.7 million to buy a condominium unit in Bukit Timah, Dmitriy Shport failed to repay her and instead sold the private property behind her back to pay off his debts.
The Singapore permanent resident then waited several years before lying to her that he had just sold the unit.
In order to convince her of the legitimacy of this “sale” and that he did not violate their loan agreement, he sent her photos of an altered option to purchase document.
In Singapore, an option to purchase is a signed agreement between a property's seller and a prospective buyer, before they enter into a contract for the sale and purchase of property.
To date, Shport has yet to make any repayments to his friend.
More at https://www.todayonline.com/singapo...id-repaying-s17m-property-loan-friend-1988836