In the inner south eastern suburbs of Melbourne, evidence has been brought forward that there is a multi million dollar money laundering involving realtors, buyers sellers and City council members.
In Melborune’s wealthier inner suburbs of for example Caufield, Balaclava, Elsternwick, houses that are being sold for example for $1,000,000 are being paid for with $600,000 in legitimate funds and the rest, $400,000 in black money.
This practice is well known to the Real Estate Agents in the area, and also the City Council members are being bribed in order to let these sales go unnoticed.
The origins of the black money at this point in time will not be discussed by corpau, as there are various sources where it comes from, which irrespectively whether revealed or not cannot be traced ‘officially’.
There are many repercussions of this fraudulent activity, where one is the false ‘economy’ incorrect published house prices effect, to incorrect taxes collected on the final sale price.
Realtors have already been reported by the Herald Sun newspaper to be committing fraud on a grand scale, but there has not been any court matter pertaining to their fraud.
It is very doubtful that this information of money laundering will make it to the mass media. Some people are ‘allowed’ to commit fraud / money laundering, whilst other are punished for the same deeds.
corpau
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