During the "Storm Before the Calm" chronicles, I made reference to a developer who duped many people into giving him money in exchange for properties which were not yet built, almost exactly parallel to our own story. He was formally accused yesterday of misappropriation and conspiracy to commit fraud.
I hope it brings some respite to the victims involved. They will never be fully compensated, because they'll never be able to win back the time they lost, even if they manage to recoup their money in full. Their story reminds me to count my own blessings, and I hope it helps to weed out some of the bad apples in the real estate industry, as well as teach people to not be bullied into forking out their hard earned savings with nothing to show for it (aside from the 10% deposit - to the notary, NOT to the seller).
Remember to be vigilant out there.
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