I am very opposed to buying any condo in Company name, and I said so in an earlier post. However, I came across an article in Thaiger that I found interesting. Whether all the information in the article is true or not, I can't say. But, I am passing it along to add another perspective. According to the article, 47,000 companies have been flagged for investigation. Of those 47,000, only 852 have had charges brought against them so far. Thaiger points out that the figure of 852 does not represent convictions, just charges brought. The next step would be for the cases to go to court, followed by appeals should there be a conviction. Thaiger also points out that each case has to be investigated separately and, should charges be filed, each case then needs to also wind its way through the court process, also separately. Since this is how the system works, Thaiger estimates that at the current pace it will take 50 years to get through the current cases. How they determined it would be 50 years, I have no idea. Neither Thaiger nor Google had any information on actual convictions, although Google had the same number of cases, 852. Although I have never bought in Company name and never would, if I did own a single 'small potatoes' property in Company name I might be breathing a little easier if the information in the article proves to be correct.
