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Old 24th Jul 2007, 01:43
  #43 (permalink)  
speeeedy
 
Join Date: Feb 2004
Location: Australia
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Aircraft,

The house was 'valued' at $350,000 because a certain person who ran the house on behalf of the owners was telling all buyers at every available opportunity that the house was situated on polluted land, was structurally unsound, had a leaking roof and therefore would not get sufficient rent to cover the costs.

But to one particular buyer he told the truth: The land was great, The house was very solidly built, the roof was in top shape and the rental market was already starting to skyrocket. (Oh and he stood to get a massive kick back from this particular buyer, that he wouldn't get from all the other buyers).

That would be unethical and illegal for a real estate agent doing a $500,000 deal but apparently OK for a CEO doing an $11 Billion deal.

Oh and did I mention he also bought the house next door and was renting it out at a cheaper rate whilst charging all costs to the main house, claiming that he was a genius for the ‘success’ of his new housing investment (There is also a small house in Singapore, but you wouldn't know about that!).
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