Auckland man on trial over low-cost housing fraud scam
A businessman went on trial yesterday accused of duping people in a low-cost house-buying scheme.
Wednesday, September 15th 2004, 4:15PM
by The Landlord
Mohammed Ayub, 38, of Massey, in Waitakere City, faces 46 charges in the High Court at Auckland, including obtaining or attempting to obtain a pecuniary advantage by false pretences, forgery, using a document to defraud, threatening to kill, carrying on a business fraudulently and perjury.In his opening address, prosecutor Kevin Glubb characterised Ayub as "cunning, calculating and creative" in his dealings with 10 house-buyers and numerous financial institutions.
Ayub was said to have advertised an attractive no-deposit scheme, which offered the prospect of an affordable entry into the housing market, sometimes with a free car thrown in.
But Mr Glubb said it was nothing but a sham.
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