Wednesday, January 26, 2011

Expat Property Developer Arrested over Embezzlement

DENPASAR

The head of Bali’s leading foreign-owned realtor Ray White Paradise Property has been arrested by police after a land sale to a Chinese woman went sour.

Mark Tuck, 60, was detained by Badung Police after a client, Dorothy Poon, 63, reported that land-title certificates for a Rp5.4-billion (US$597,600) plot of land in Seminyak were not handed over and some of the funds she had paid were not reimbursed, Badung Police spokesman Putu Indrajaya said.

Paradise Property, founded by British national Tuck six years ago, merged last year with the Indonesian arm of Australian real-estate giant Ray White.

An official with the company who asked not to be named told The Bali Times the case was not related to the company as it now exists.

“We cannot issue a statement as this is a case that involves only Mark personally. The companies formerly doing business under the [Paradise Property] brand name no longer exist and the ownership structure has changed,” he said.

Filed under: News Alerts

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