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What she says

Q If the money invested goes into the buying and flipping of the properties, then why are there bank mortgages?

A I don't do fixer-uppers or flip the properties. What my company does is turn-key housing projects. We buy the house, renovate it and lease it out to a tenant before selling it to a buyer. The potential owner is buying an investment property, which is already producing rental income.

At times, we will guarantee the rent while we search for the tenants. I also don't borrow money from the US banks directly, but should the investor need to, then we will provide that option on their behalf.

Q We also understand that the investors have signed their power of attorney over to you and CTL Global Holdings. If so, then why are they still made to handle the banks, land and property taxes themselves?

A The power of attorney (POA) was never signed over from the start for that. It was only when we had trouble with the first property management company that we asked them to sign over their POA, to facilitate the transfer from one property management company to another.

This POA is limited and does not allow us to carry out other transactions on the investors' behalf without their informed consent.

Q In a January article in the Indiana Star, you were quoted as saying you may have lost US$500,000 or more for several reasons. These include failure of contractors to deliver and contractors who ran away with the money. Whose money was it? What part of that sum was money put in by the investors?

A It was all my own money. The first contractors did shoddy work or none at all. One took a year to renovate one house. It's what I call bad debt. I try to put these behind me and carry on.

"I have my passport with me and if you look at the pages, there is nothing here to indicate that it was impounded at any point."

– Ms Clara Tan