Foreign Investor Fined $250,000 for Illegal Property Purchases

Australia’s Federal Court has fined a man living in Victoria for illegally purchasing and possessing multiple properties, the first penalty order issued since the enaction of the country’s foreign investor laws. The court ruled that Vijay Balasubramaniyan, a temporary resident, had to pay a total of $250,000 (US$186,000) in fines to the federal government…

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