Transnational real estate scams: How to guard against fake overseas real estate investment opportunities?

Transnational real estate scams: How to guard against fake overseas real estate investment opportunities?

Case Overview:

Olivia received a call from someone claiming to be a foreign real estate developer who was promoting a real estate project in Europe, promising a high rate of return and a government guarantee. Without thoroughly verifying the information, Olivia transferred $100,000 to the developer through the bank account provided by the developer. However, after the project went online, Olivia found that she did not obtain legal ownership of the property and the developer had lost contact.

Legal Response:

Identity and Background Checks:
Olivia handed over all the transaction records to our law firm, and our law firm quickly launched an investigation. After verification, it was found that the developer not only did not have legal qualifications for real estate development, but the real estate certificates related to the project were also fake.

Multinational asset tracking:

Our law firm helped Olivia trace the flow of funds through banks and international payment platforms and found that the funds had flowed overseas through multiple unknown accounts. Our law firm advised Olivia to recover the funds through cross-border litigation and asset freezing.

Litigation and Arbitration:

Olivia decided to file a cross-border lawsuit, and our law firm provided her with legal assistance. She eventually successfully recovered part of the funds and filed a claim for compensation against the developer.

Outcome and Summary:

Olivia successfully recovered part of his investment funds. During the case, our law firm assisted him in tracing the whereabouts of the funds through international cooperation. This case reminds investors that when participating in cross-border real estate projects, they must conduct sufficient background checks and ensure that the projects they invest in are legal and compliant.