Agent jailed for faking home sales

By Jane Chen | March 23, 2010, Tuesday |

Online Edition

THE boss of a Beijing-based housing agent has been jailed for 14 1/2 years for contractual defraud after faking contracts to sell eight homes for a Shanghai developer which asked it to help sell the properties in Beijing.

The boss, surnamed He, was also fined 30,000 yuan (US$4,394) by Pudong New Area People's Court, today's Shanghai Morning Post reported.

He borrowed the property documents from the Shanghai company and returned with fake ones he duplicated, the court was told.

He then faked seals of the Shanghai company and created contracts to sell the homes for 5.5 million yuan.

He sent 900,000 yuan to the Shanghai company and spent the rest on futures investments and shopping.

Metro

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Agent jailed for faking home sales

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