26 Apr '16, 8am

Sentosa villa Buyer: Arrested China exec

ZHANG Min, the Chinese businesswoman involved in the Ezubao ponzi scandal, is believed to have been the buyer of a S$23.8 million bungalow along Lakeshore View in Sentosa Cove , the purchase of which has not been completed. Zhang is understood to have been uncontactable when the completion date for the property's purchase fell due earlier this year. Shortly thereafter news broke that a person bearing the same name had been arrested in the Ezubao scandal in China. Zhang had been granted an option for the bungalow's purchase in October last year; she exercised the option later in the same month and lodged a caveat on the property in November. In early February this year, she withdrew the caveat. This was shortly after news broke of her arrest in China. Market watchers reckon that Zhang would have paid a 5 per cent deposit of the purchase price, that is, S$1.19 million - whic...

Full article: http://www.srx.com.sg/singapore-property-news/18182/sento...

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