Migrant loses $111,000 in collapsed Christchurch business investment
A migrant who borrowed heavily to invest in a Christchurch redevelopment project says his life has been ruined after the company collapsed.
A migrant investor says he borrowed heavily to fund an investment in a Christchurch redevelopment project, but the company collapsed weeks after he arrived in New Zealand. He lost $111,000 and now fears repercussions from loan sharks. The case highlights risks faced by migrants seeking to establish themselves through business investment in New Zealand.
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‘My life has been ruined’: Migrant says he fears loan sharks after losing $111,000 in failed NZ business
Thanh van Tran says he borrowed heavily to invest in a Christchurch redevelopment project, only for the company to collapse weeks after he arrived in New Zealand.