Ausin Group (Australia) is saddened by recent allegations of fund misappropriation in China against its Chinese marketing referral partner, Shenzhen Ausin Investment Consulting Co. Ltd and its owner, Mr Harry Jin.
In light of the seriousness of these allegations, Ausin Group (Australia) has terminated its relationship with Mr Jin. and referred the matter to Australian authorities. Steps are being taken with Chinese authorities and Ausin Group (Australia) is working closely with vendors affected.
Ausin Group (Australia) had an agreement in place with Shenzhen Ausin Investment Consulting, and its owner Mr Jin, whereby prospective overseas Chinese buyers would be introduced to off-the-plan Australian property sales marketed by Ausin Group (Australia) on behalf of its clients in Australia.
Over 8,000 properties have been sold during the 10-year agreement with Shenzhen Ausin Investment Consulting Co. Ltd; which was licensed to use the Ausin brand in China during this time.
Recently, allegations surfaced from overseas Chinese buyers that monies related to property exchange and settlements were paid directly to Mr Jin. This behaviour was directly in breach of Ausin Group (Australia)’s agreement with Shenzhen Ausin Investment Consulting, which expressly prohibited the collection of any funds.
Ausin Group (Australia)’s initial investigation into the issue has identified that Mr Jin’s rogue behaviour has been linked to approximately 130 transactions in 15 developments across Australia. Ausin Group (Australia) does not hold any funds that are the subject of these transactions.
CEO Joseph Zaja says, “Ausin Group is working with authorities both here and in China to ensure the best outcome for all involved. We have zero tolerance for any misappropriation of funds or corrupt behaviour.
“Ausin Group has terminated any and all agreements with Mr Jin and his company and has issued a cease and desist in relation to use of our Trademark.
“As we interrogate the issue further, we want to assure our clients that Ausin Group continues to be a reliable and trusted property referrer. We will continue to operate as usual in Australia and are committed to working with those affected to help find alternative buyers for properties not yet settled,” he said.
Ausin Group asks anybody in NSW who is affected by this issue to contact:
James Pantos Detective Senior Constable, Sydney City Police
Tel: (02) 9265 6579
NSW Police Force complaint event number is E 68333323.
Ausin Group’s Australian operations and businesses such as; Property Management (Ausin Real Estate), Immigration, Taxation, Contracts & Settlement Team, Local Sales and Network teams are in business and operating as per normal.
Further information on who to contact in other States and China to follow.
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