Indian couple duped in Australia
An Indian couple thought they were set for life when they invested their entire life savings in a development project.
But almost four years later, Jim and Sarbjit Singh from Billinudgel, a town in New South Wales (NSW), are still fighting a bitter court battle to get their $132,000 back after the company they trusted went belly-up in October 2004.
In 2003, Sarbjit was approached by a colleague about an investment opportunity in a proposed $8 million retirement village at Coomera, on the Gold Coast, promoted by Reserve Concierge, a company registered with the Australian and Securities Investment Commission, according to Northern Star newspaper.
Excited by the investment prospect, the couple invested all their hard earned money in the company.
Soon after, they became suspicious and contacted the Gold Coast City Council to inquire about the development application for the retirement village, only to be told it had lapsed some time ago.
The couple along with few other investors then tried contacting Mr Yeo, one of the directors of the company, only to be told that he did not want to discuss what had happened to the retirement village project.
For many investors it soon became evident it was a lost cause, but the Indian couple refused to give up and approached the court for help.
In court this week Singh asked Yeo if he would go to mediation. But Yeo declined any mediation and proceeded with his application for an apprehended violence order (AVO) taken out against Singh.
An AVO is a court order taken out by a person who fears violence or harassment from their harasser.
The AVO hearing is set for later this month and if Yeo is successful, Singh's case may hit rough weather.