These reports reveal why we should care about money laundering apart from the fact that our real estate market has been awash with ‘Black Money’ from money launderers lured by the reward of Permanent Residency … and the consequences of a whole Cohort of Australians locked out of home ownership in Australia!
FinCEN files reveal suspicious transactions were waved through despite red flags
By the International Consortium of Investigative Journalists
Posted and updated 21 September 2020
Banks moved more than $2.7 trillion in payments they believed were suspicious over 18 years
Some of the biggest banks in the leaked files continued to wave through suspect payments despite promises to government authorities to improve money laundering controls
Donald Trump’s former campaign manager Paul Manafort features in the documents
From 2012 to 2013 inclusive the Chinese buying spree grew by almost 60% targeting Sydney and inner-city Melbourne
Chinese buyers and Chinese-backed developers focused on Sydney with more than $600M development sites for 5000 apartments to be marketed in China
With 10 Million Millionaires in China … was this why we have a social and economic imbalance in Australia … prior to the Pandemic?
With precincts 100% owned by Chinese and/or rented by Chinese, built by Chinese developers thus not available to the Australian market …
IT is alleged that Australia needs ‘foreign investment’ despite our Title Deeds becoming perhaps our biggest export! When foreigners buy our property it means less for the Australian HNW and UHNW to invest … less opportunities for our Super Funds … it would seem we have many home grown investors to ensure the Title Deeds remain onshore!
Begs the question how much of Australia does the CCP own?
And then it seems from this article that all is not revealed about what went on pre Covid-19!
Through visa manipulation a vast range of temporary visas allowed the holder to buy Australian Real Estate to gain a Permanent Resident Visa!
And with a mere 160,000 permanent migrants outnumbered by Temporary Visa holders, for example, in May 2019 their numbers surged past 2.3 Million
And many were lured here esp. those from our Big Neighbour to the North when they bought our real estate to gain a PR Visa and Medicare benefits!
Further, the property sector esp. over the past decade were unable to build the supply to keep up with the ‘foreign demand’ for our housing which may also explain why much of our housing was poorly constructed …
AGAIN it would seem the property media is spinning … somewhat … in saying that ‘the large majority of temporary migrants will not be purchasing a home in Australia; they rent’
BECAUSE those seeking to buy a ‘new home’ can do so on line through e.g. Juwai and gain a ‘PR Visa’ … they are no longer on a Temp. Visa …
This PR Visa has long been the lure.
They can also purchase through a Proxy Buyer, they can buy several homes, and they can launder ‘black money’ in our real estate because the Real Estate Gatekeepers are exempt from the second tranche of the AML legislation!
Martin North has said there will be a 30 to 40% fall in apartment prices due to the collapse of this Ponzi …
Who were all these high-rise apartment precincts scattered all over Sydney built for? … cough … cough … this high-rise demand was not there prior to the Visa manipulation that has taken place …
WILL there be an opening for a return to building homes for aspiring Australian First Home Buyers? That would boost our economy …
Read more from the Property Spin then search CAAN WEBSITE to learn more!
THIS explains why the Gosford Public School was sold off in 2014 … located slightly to the south of the centre of Gosford.
DESPITE the alert from Martin North and others …
THAT as a consequence of the Pandemic … particularly with the masses of poorly constructed high-rise on the urban fringes, and further in as well with prices falling up to 30 to 40%, and with too much stock all looking the same, and on the market at the same time.
WHY is this happening now in Gosford despite a lot of concern that the development is too large for the area … but they obviously know more about the future than we do …
IT all points to big plans from those with power and influence for Gosford. They will ensure they prevail, this sort of money won’t be deterred.
ALSO the site at the corner of Mann Street and Donnison Street … though a smaller development, again it is mixed use – they all are these days
WHEN the demolition was taking place we spoke to a chap who suggested, like recent developments in Parramatta, it was ‘ME’ money and more than likely marketed to Chinese buyers
NO DOUBT its appeal is because it is …
.urban .high rise that can be populated by cohort .close to public and private schools .close to selective school .close to shops; a must .close to train .close to hospitals .close to club
In the leadup …
2020 VISION FOR TWIN TOWERS’ about a development in GOSFORD CBD said to be ‘State Significant’ builds …
–$400M Archibald development of 2 towers including 300 apartments, hotel of 167 suites, 25 floors plus retail, bars and restaurants.
It wasoriginally in 2015 the work of Peter Zhu but new owners of the Archibald are keeping their identities secret, why?
The Central Coast Quarter development application has been lodged for a hotel/entertainment destination at the southern end of Mann St … was this what the sell-off of the Gosford Public School was all about?
Plus another developer down the road is proposing 3 buildings between 8 and 24 floors to include much the same …
AND the Lederer Group is planning a development near Kibble Park, Gosford of 5 buildings 20 to 30 storeys … OMG!
The beautiful harbourside setting of Gosford to disappear for ‘Vibrancy and the emerging population’ … from??
NSW Planning proposes no barrier to who lives in Exclusive Sydney Enclaves
COUGH … cough … choke ….
How credible is this coming from NSW INC Planning?
FOR almost a decade now we have been subjected to Developers controlling the Federal Liberal Coalition, and rewriting policies of the ‘divide’. With the 100% overseas sell-off of ‘new homes’, and enhanced foreign competition for Australian housing esp from the UHNW and HNW from China …
Together with the shelving of the second tranche of the Anti-money laundering laws for the Real Estate Gatekeepers for more than a decade … followed by an exemption for them in October 2018 by the Morrison Government
Even though the Real Estate Tour Migration is now negligible that money launderingexemption remains …
Does NSW INC believe we will swallow this ‘new benevolence’? With the spinmeistersturning and twistingto make it read like this state government cares for its poorer constituents having forced them out of public housing … made many public servants redundant … and bulldozed communities for high-rise, toll roads, tunnels and stacks … ?
IS this the ‘Developers’ SIXTH TRANCHE?
Has this piece been put together now that they have read the reports from ACOSS, and others … have the Mob yet another spin on ‘social/public housing’ and affordable housing to fast-track ‘Build-to-Rent, Co-housing, Boarding Houses’ cheap, higher density housing all across Sydney … esp. for young Australians locked out to become life-long tenants?
Looks like the next chapter in overdevelopment will be supported by the disgruntled ‘Investor Class’ having lost out to Covid-19 are seeking to make a motza with investment in Build to Rent, Co-housing and boarding houses. It appears it matters not to them that money launderers own so much of this Nation’s real estate; that a whole Cohort of Australians have been locked out of home ownership … are these Australians there for the uptake to ensure their investor lifestyle?
It matters not to them that the money launderers may have property back home in high-rise precincts … that they can come to Australia to buy homes here increasing CO2 emissions
Will this mean the mob can come in and bulldoze our low-rise suburban streets for developments housing 28 people or more where there were 4 or 5?
P.S. … NSW INC subsidises developers to sell ‘boarding houses’ after a mere 18 months as flat developments …
P.P.S. Scattered across Sydney we still have workers cottages alongside mansions from Watson’s Bay to Riverstone … it’s not new … we had it all!
THE NSW Building Commissioner will be able to issue stop work orders, order developers to rectify defective buildings and stop occupation certificates from being issued.
With three goals …
-the first to focus on the accreditation regime for designers
-the second to give insurers the confidence to ensure the work
-the third decennial liability insurance with 10 years coverage for defects for consumers
The new legislation has been described as complicated however, when companies contravene the legislation the directors and any involved in company management can be personally liable! This may also be retrospective!
IT would seem due to community-wide awareness of the shoddy work of this Sector … with the word having gotten around … across the Globe … and the consequent pull-back that the TaskForce had to concede somewhat … and it could be this is as far as they have let the Commissioner get to …