Con artist cheats some 20 people in the capital in the biggest property-related scams in years.

A CONMAN rented homes in Beijing and sold them for almost 100 million yuan (RM49mil) in one of the biggest property-related scams in recent years.

The con artist, who was identified as Tian Weiping, coaxed some 20 people to buy apartments at the Vanke Blue Mountain residential project at a price of about 8,000 yuan (RM3,920) per square metre cheaper than the market price.

She ran away with the money she collected from the fraud victims who later found out that she was not a real estate agent or middleman but rather just someone who rented the apartments.

The Beijing Morning Post reported that a woman surnamed Chen was introduced to Tian by her friend in November 2012 and Tian told her that she had good connections with the developer of the residential project and that she could help her buy the apartment at a cheaper price.

Chen and her husband then visited the apartment to check its condition before signing an improper sales and purchase agreement and handing Tian the first instalment of three million yuan (RM1.47mil).

When Chen went to her so-called new home to put up curtains, she met the real owner of the apartment.

“We bought the apartment at a price of 33,000 yuan (RM16,170) per sqm but it was still cheaper than the market price. The friend who introduced us to Tian told us that he had also bought this kind of cheap home.

“When I met the owner, I was in a state of disbelief. Later when he showed me the S&P agreement between him and the developer, then only I knew I was fooled,” Chen said.

Another victim surnamed Wang said she also bought an apartment from Tian who told her that the apartment belonged to a “city official” and warned her against checking the city official’s background or else he would not sell it.

Wang even banded together several relatives and friends to buy five units worth more than 15 million yuan (RM7.35mil).

The real owner in the first case was quoted as saying that he bought the apartment worth six million yuan (RM2.94mil) from the developer in 2009.

He said in November last year, the rent and sales service centre of the property management company informed him that a man wanted to rent his unit.

He said the man paid six months’ rent in advance and he met the man and his mother during one of his visits to his apartment.

A photo verification of Tian by the victims showed Tian was actually the man’s so-called mother and both of them were involved in the fraud.

Many Chinese fall prey easily to property scams like this because they feel the pressure of escalating house prices which make it harder for them to buy homes in the city.

When they hear news of cheap homes, they cannot resist the temptation.

The talk of government officials selling off their properties at cheap prices amid a nationwide crackdown on corrupt officials has made these fraud victims believe that they could actually get irresistible deals.

Property fraud has become common these days.

Meanwhile, a local Beijing court heard that defendant Li Meng forged labour contracts, documents issued by the People’s Bank of China, house ownership certificates and other materials to sell an apartment claimed to be a welfare housing for the People’s Bank of China staff between March 2009 and August 2012.

Li was said to have lied to her victim that the apartment was cheaper than the market price because it was a welfare housing. She then rented a few apartments else where and sold them to four other victims.

All in all, she confessed in the court that she swindled about 4.6 million yuan (RM2.25mil) from the five victims.

She was quoted by Beijing News as saying that she did it because of her husband who often quarrelled with her.

She said due to anger during those fights she had two miscarriages and in order to please her husband, she started to think of ways to make money illegally.

“Basically, the money that I collected from the victims were given to my husband.

“He used it to buy cars and for house renovations and gambling in Macau,” she said.

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