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20 February 2004

Property Crooks

A valuer speaks out.

What are the Fair Trading Departments doing about Michael David Wilson and others? How is it that these people can advise on property but not shares?

Property is the most important investment that Australians make in their entire lives, yet you do not need any qualifications to advise or deal in real estate.

This is an absolute joke and the State and Federal Governments WILL be held to account for this when people start losing their money (en-masse) because of crooks and their associates. It is reprehensible that governments allow these people to deal and advise in real estate.

As a Property Valuer in private practice for over 15 years, I can honestly say that I have not seen so much fraud and deceit as I have seen in the property market in the last 5 years. Yet, no regulatory body has stepped in to protect the consumer, they just flick pass it and say it is not their jurisdiction.

This is the lamest excuse I have ever heard.

What are the regulators there for? Who are they protecting? It would appear by their actions or in-actions, they are there to protect the crooks and not the consumer.

I am saddened to see so many people lose their money to property scams and in the end the Government and Tax Payer (you and me) will have to bail them out when they have no Super and no savings because the crooks spent it all on fancy cars and luxury yachts.

These comments refer to the article – FROM PRISON TO PROPERTY

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