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12 Questions

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Australia Gold Coast Property Scam Quiz

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Questions and Answers

What was the common mistake made by the victims of the scam?

They were too greedy

They were too trusting (correct)

They were desperate for housing

They were uninformed

How much money did the scammers pocket from the scam?

Billions of dollars

Hundreds of millions of dollars (correct)

Thousands of dollars

A few million dollars

Who is Vic Ollis as described in the script?

An investment banker

A financial advisor

A real estate agent

A convicted felon (correct)

What is the role of Vic Ollis's offsider in the scam?

Rounds up the prey Signup and view all the answers

What was the original name for the scam mentioned in the text?

Gold rush marketing Signup and view all the answers

How many major companies were engaged in two-tier marketing on the Gold Coast?

Over 50 Signup and view all the answers

What did one marketeer add to the price of each property sold?

At least $30,000 Signup and view all the answers

What is the first step of the scam as described in the text?

A free plane trip to view investments Signup and view all the answers

Did Bev Chisholm's bank conduct a valuation on the investment property?

No, but they lent the money anyway Signup and view all the answers

How much did the Chisholms borrow for a property worth less than forty thousand dollars?

$91,000 Signup and view all the answers

What did Neil Jenman do before working to expose real estate scams?

He sold real estate Signup and view all the answers

What did John Simon, founder of Aussie Home Loans, advise against?

Attending real estate seminars Signup and view all the answers