Couple lose life savings after Winning Post Estate developer goes bust
A YOUNG couple’s hopes to build their first dream home in Officer have been shattered after a property developer “robbed” them of their deposit on a block of land.
South East
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A YOUNG couple’s hopes for a dream start in life have been shattered after a property developer ”robbed” them of their block deposit.
Engaged Endeavour Hills pair Maryanne Moutsakis and Steven Ognjenovic spent their entire life savings of $32,000 on a down payment for a slice of land.
But the Winning Post Estate developer has gone bust, leaving the couple without their deposit or any prospect of being able to buy their Bayview Rd block.
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The Supreme Court liquidated the project in May, but plots are still being offered for sale on online real estate sites and parent company RIC Corporation is still promoting it on its website.
It is believed at least 30 of the 100-plus blocks have already been sold for between $300,000 and $400,000, all requiring 10 per cent deposits.
Ms Moutsakis said they were at their wit’s end about the “heartbreaking” situation.
“We paid our life savings and our money gifts from our engagement party guests on this piece of land that we were going to build our dream home on,” Ms Moutsakis said.
“This was our first big purchase and was going to get us started for our family home.
“This was going to be our start in life, but instead has made us lose all faith in society.”
RIC Corporation chief executive and founder Jason Dinh, who oversaw the Winning Post project, doesn’t return their calls or respond to requests for their deposit to be refunded.
She said they are warning other families to be wary and not be “robbed of their life savings”.
“We as young first home buyers are now left devastated without any answers or ideas as to what to do next,” she said.
“We just keep hoping and praying our deposits are safe but honestly don’t even know who to trust anymore.”
Liquidator Stephen Michell said he had asked the directors of the company to tell him where the missing funds were but he “hadn’t had a suitable response so far”.
Leader calls to Mr Dinh’s mobile, Winning Post Estate and RIC Corporation were not returned.
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