property

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The Carbolic Smoke Ball case gave carte blanch for businesses to lie so long as they didn't go too far.

But that related to the efficacy of their products.

Here's an extraordinarily blatant lie that is so common that it's a surprise that it's not stamped on as a matter of policy.

FCRO Subsection:

Financial Crime News

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You know that thing where estate agents tell you you can't lose money in property? Well ....

An Australian estate agent / property developer Rick Otton and a company of which he was a sole director, told people how they could make money by buying and selling houses. We Buy Houses Limted and Otton have just been ordered to pay a whopping AUD18 million for telling porkies.

CoNet Section:

Construction

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What took them so long? FinCEN notices that shell companies hide purchase of expensive property

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Often, one is tempted to shake one's head in amazement when a regulator or enforcement agency is proud that it's done something that has been obvious for, well, pretty much for ever, in money laundering terms. If one were to shake one's head with appropriate force at FinCEN's boast that it is to target shell companies that have been used to purchase expensive properties in seven expensive areas, there's a risk it would topple free of one's shoulders. Surely the point is not the FinCEN has just noticed, but that it's just noticed that banks, lawyers and estate agents have not been making reports. Shades of Commonwealth Bank, maybe?

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Unlicensed property rentals now subject to heavy fines in New York

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Just as Uber, etc., drivers are often uninsured and unlicensed, so are those who let out apartments via on-line rental services. New York has long had very strict rules about short term lets but the laws had little or no bite to them. But NY Governor Andrew Cuomo has just approved a law that gives the law teeth on an escalating scale. airbnb and similar sites don't like it.

CoNet Section:

Corporate Management

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