A report from the Australian Financial Review. "One of the first victims of collapsed Chinese residential agent Ausin said she would not buy real estate in Australia again after her experience with the company, which promised to navigate complex Chinese capital transfers in order for her to buy a house and land package in south-west Melbourne. Sales agency Ausin Group's offices in China collapsed leaving behind missing deposits and failed settlements of houses and apartments in Australia."

"Ausin's China business, which is a separate entity to Ausin Australia, has allegedly misappropriated 'tens [of] millions of dollars' of settlement and deposit monies for new homes acquired across 15 projects in Sydney, Melbourne and Brisbane. A buyer from Wuhan, one of the biggest cities in China, told The Australian Financial Review she bought a house and land package at a south-west Melbourne estate at the start of the year for just over $600,000 after taking a 'free real estate tour' with Ausin to see houses in Melbourne. She was unwilling to reveal the name of the developer and requested anonymity."

"'The reason for giving the money to Ausin is the difficult capital transfer from China to Australia... so Ausin helped us send the money to the developer,' she said. Along with referring buyers for a commission, the collapse last week has revealed the Ausin offices in China have also become 'conduits' through which Chinese buyers send their money to Australia, circumventing restrictions placed by Beijing on capital transfers out of China."

"'I am very angry ... all my hard-earned savings and wages are down the drain. My only option now is to try and force the liquidation of Ausin [China] assets to see if i can recover my funds,' she said. 'I am sceptical about investing overseas now. Even if the location and developer are great, I am still concerned that there are 'black holes' with the middle person or agent who can run away with the money.'"