Australian Property firm, director fined $4 million for breaching consumer laws

11/15/2018 4:39:00 AM

Source: Business Insurance

The Federal Court of Australia has fined the director of real estate firm We Buy Houses $6 million Australia ($4 million) and the company AUD 12 million for breaching the country’s consumer laws, reported. The court banned Rick Otton from managing companies for 10 years for making false and misleading claims about property deals. The court also permanently banned Mr. Otton and We Buy Houses from future involvement in property transactions or investment in Australia.