[garryrodes]

Can all owners of the Cultural Tower Beijing which was marketed and managed by Colliers please contact me since I am forming a large fraud case against colliers.

My name is Hardeep Singh Johal, address : 79 Grasholm Way Langley , Slough , SL3 8WF .
TEL: 0044 (0)7976 988534
TEL: 0044 (0)1753 542595


"Hello this is hardeep Singh Johal

I would seriously suggest that you try to contact as many owners in the development as possible, since i am compiling a case for Scotland yard at where one of my uncles works and also for the serious fraud department.

Here are the facts of the case

1) The above ground area in the cultural tower was 70223 m2. 34846 m2 below ground area. I shall concentrate on the above ground area since the below ground area is not considered in my calculations.

2) The average sale price was 30,000 RMB/m2 so that means that the developers and colliers pocketed 70223*30,000 for the whole development which would equate to 2,106,690,000 (2.1 Billion RMB)

3) The company Wenmai was set up by the developer with share capital 60,000,000 RMB, however this is not even 10% of the money that was due to us all for the first year which is 2,106,690,000 * 6/10 * 10% = 126,000,000 RMB (126 Million RMB). That means that the developer knew from the onset that it would never meet any of its obligations and hence constitutes as a intentional fraud.

Wenmai ltd
审计结果：
截止到 at ---2008年3月31日
 租金收入(Rental income)：12,591,412.15
 租金支出(rental expenses)：97,886,698.27
 租金差额(rental differences )：-85,295,286.12
 注册资本(Paid up capital)：60,000,000
 所有者权益 (shareholder rights??)：-26,028,743.89

4) It is highly unlikely that the building cost more than 7,000 RMB/m2 to construct back in 2006 which would equate to 7,000 * (70223 + 34846) = 735,000,000 RMB (735 Million RMB) that is using the same calculation for the below ground area.

5) So potentially the developer Zhongguancun Culture Developement Co Ltd , and Colliers International and Colliers CRE based in London have pocketed the difference of (2.1 Billion RMB - 735 Million RMB = 1.35 Billion RMB). So setting up a company called Wenmai Ltd is just a diversion to trick the investors since it was never adequately capitalized.

6) The rental achievable in Beijing was never 10% of the stated value and research tables suggest that the prices that the development were sold were never actual prices for the area, see my source of information attached.

" Beijing apartments slightly earn more at an average of 5.5%. Prices are around $2,138 per sq. m"

I have attached a extract of the global property guide which shows that current centre units in Beijing sell at $1,903 /m2 which equates to 13,000 RMB/m2 . Since this is the price now 2 years after the development is completed and 4 years after it was marketed. This shows that initially the developer and the international sales agent Colliers knew the original development was grossly overprices. However they used the ploy of a 10% guaranteed rent for 10 years to suck investors in since the investors were under the opinion that at the worst they would get their initial investment back after 10 years in rent.

7) Current situation as it stands Colliers International and the Developer Have pocketed the excess 1.35 Billion RMB) which is equivalent to £110 Million Pounds . So them saying that they tried by setting up a management agency with share capital 60,000,000 (60 Million RMB = £5 Million Approx) This is a empty gesture.

8) Now the Developer is in a situation where they have pocketed £110 Million Pounds and Distributed £5 Million back to the original Investors and Also paid hefty commissions to Collier CRE and Colliers International for their part.

9) The suggestion that the developer wants to sell the whole development now at a reduced price is also part of their ploy, since they have the intension to scare the small investors to sell the portions of the building and then buy back the portion with our own money which they have embezzled from us effectively gaining a 20 story building for free.

10) The Thing is there has been the figure banded about that the building is currently worth 10,000 RMB/m2 which would mean that the current building is worth (10,000 * (70223 + 34846)= 1,050,000,000 (1 Billion RMB). So considering that the developer owns 40% of the building and the small shareholders own 60%, that means that the developer with the aid of Colliers International only needs to disburse 60% of this which would equate to 600,000,000 (600 Million RMB). But considering that the developer pocketed approximately 1.35 Billion RMB, it makes them in a position that they can buy out all the small shareholders with our own money.

11) Hence what happens is that the developer gets control of the whole building and the individual small shareholders are left with the Debt that they all agreed to take out from the china construction bank, Effectively meaning that huge sums of money are embezzled out of the banking system with only two winners Colliers and also the Developer.

I Intend to do the following actions

1) Contact The China Construction Bank who have been part of this and explain the seriousness of the allegation along with the proof evidence that I have collated.

2) Contact Bank Of East Asia who funded this development, since they provided loans to most of the individual investors. So they will be left chasing individual investors for loans which have been embezzled by the Developer Zhongguancun Culture Development Co Ltd.

3) Set up a internet forum to locate all the individual investors that have invested so that we can unravel this international Fraud setup. The thing is that there are so many people involved and to many people simply ignore the situation since they don’t fully understand. I can Assure you that I can peruse this till the end.

4) I intend to file a civil action against Colliers CRE in London .

Regards

Hardeep Johal"


I would expect you to take this very seriously as I do not make random claims against people without evidence. I Have graduated with a first class honors degree in Engineering and so has my business partner, and we design building such as this in various locations around the globe.


Basically this is how the fraud works.

Colliers CRE takes a initial deposit from client in London, for a development, and produces a glossy brochure of all promises which they know are not achievable.

The developer overvalues a development and prices it at a rate far in excess of market rate, and then gets Colliers CRE market these properties to people like me who fall for it. They make huge promises to give the clients 10% return every year for 10 years under the pretence that Colliers International will be the Leasing Agent and Property Manager. However actually they just use the money that they obtained from the excess price valuation and then pay that back to the clients for a while. After they have sold all the development the Developer and Colliers stem aside and then fraud the clients to sign a Chinese form which makes another company based in china responsible. Since most people can-not understand the information they fall for the trap.

Now the situation is that I have lost £67,000 cash in this investment which I made under the trust that colliers CRE were essentially the same entity as colliers International and they reassured me at the time that they would take responsibility when I prompted the questions at the time of the investment. Now legally all the firms involved have stepped back which has left me with casing a small firm based in china for all my losses. And it is highly likely that this firm does not have any assets to back up and as expected has just filed bankruptcy. I am not the only owner in the development which were priced in its £millions and there are likely to be thousands of investors in my similar situation however I have until now not been able to contact any of them due to the lack of information. I have only the contact details of 1 other person as of yet who has invested.

I would like to get in touch with all the individual owners of the building who are in my position however I have been restricted by Colliers CRE based in London and I have no-one else to turn to.

The solicitor who was recommended by colliers CRE at the time of the investment was supposed to read the contract to make sure that it followed what was written in the English brochure, however she conveniently left the room whist all contracts were being signed and went to open a bank account with me whist she left my partner to sign unassisted. This is gross negligence.



The people responsibile to a greater or lesser degree.

1) Colliers CRE based in London Entices clients to purchase units in developments overseas which they aggressively market over the internet and also by glossy brochure making promises and guarantees, which are false.

2) Colliers International are apparently set up to manage these units over the entire period of the investment cycle say 10 years reinsuring the investors that this large international organization is involved entices more customers.

3) The developer Zhongguancun Culture Developement Co Ltd is involved as it proves colliers with huge commissions for there involvement.

4) The International Law firm Zhonglun W&D Law Firm who was recommended by Colliers CRE to act on my behalf.