Australian's repossessed home sold for 1,000 dollars
Feb 9, 2012 |
Sapa-dpa |
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An Australian man whose house was repossessed by the Victorian state government and then sold at auction for 1,000 Australian dollars (1,007 US dollars) told a Melbourne court that it was worth 630,000 Australian dollars.
Picture taken from www.tucsoncitizen.comZhiping Zhou was fighting the sale of his house in a Melbourne suburb, which was repossessed over a 98,000-Australian-dollar debt.
The buyer told the Victorian Supreme Court that the transaction was legal because no reserve price was set for the auction.
Feb 9, 2012
LBS
Shocking!!Sounds like a personal vendetta - or like MuAfro says "Corruption at its best."
No sane person / organization would repossess and auction at that price unless there was some benefit to them.
Zhiping Zhou will still owes the balance of his dept too.
The world is full of greedy, self serving, corrupt criminals!! :(
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