An Australian house hearing has been widely reported as a great example of how an investigation into the activities of an alleged investor can be a devastating blow to a company.
The allegations have since been withdrawn, but not before a host of investors have lost money.
Here are some things you need to know about the case.
What is the RSLH case?
The case relates to the purchase of a house in Sydney by the RLC Group in March 2017.
The RLC group is a property developer, but was also the company behind the RBLK scheme, which was widely accused of fraud.
The scheme was to buy an apartment building for $400,000 and to turn it into a “wealthy” condominium.
RLC said it bought the property for $300,000 in 2017, and had paid $2.8 million to a broker for the first two years of the project.
The first two months of the sale were spent renovating the property, and the last three months were spent building a large new apartment building on the site.
The broker, who was working with the RSCH, said the buyer wanted to renovate the building but had not been able to find a buyer for the property because of a property tax rebate.
The house was eventually sold for $1.7 million, and a number of investors were also involved in the scheme, including a Chinese billionaire who wanted to build a luxury hotel on the property.
What did the investor say?
The investor allegedly told RSL that he had already sold the property to an overseas company and that he wanted to convert it into “a new luxury condominium”.
He also said that he would invest $1 million in the project, and that the buyer was going to invest $3 million.
The investor also said he wanted a “significant” amount of money from the buyer, and said he would make a big profit.
The buyer did not respond to the investor’s request for comment, and RSL did not comment on the case at the time of publication.
Who is RSL?
The RSL is an Australian investment company that is part of the Commonwealth Investment Corporation (CIC), a body that manages funds and other assets for Australia’s financial institutions.
It was set up in 2000 to help manage Australian banks’ investments in international markets.
It also oversees investments in Australian banks and other companies, such as real estate.
It is based in Sydney, and has more than 5,000 employees.
RSL says it has $2 billion in assets under management.
How was the case investigated?
RSL claims that the investor was acting as a third party broker, and was not a registered investor.
However, the Australian Securities and Investments Commission (ASIC) has said that the RRLH investor is a registered investment broker.
In addition to buying the property from a third-party broker, the investor also paid for the renovation of the property as well as the new apartments.
The third party was also alleged to have been an employee of RSL who also received payments from the property developer.
Who was involved in this investigation?
In October 2018, RSL said that a number on its website “contained a misleading statement” about the amount of the $2 million it had paid to the broker.
The statement said that $2,000 was paid to a “broker who has not been identified as a registered financial planner” in October 2018.
It went on to say that the broker had provided “no information or evidence to support the information that was supplied to RSL”.
The broker also allegedly failed to disclose “any financial advice provided by the broker”.
RSL has also claimed that the “broken down information” in the “Broken Down” section of the website was false.
It says it made “multiple errors” in its reporting of the matter, and “noted these and others” in an internal complaint.
RBLk and RLC have also apologised for any harm that may have been caused by this investigation.
Who will be held responsible?
RBLs statement says that RSLs “inappropriate behaviour” led to “financial harm”.
In a statement to the media, RBL says that it “acknowledged that some of our employees had been misleading and that some employees had also provided misleading information to RBL”.
RBL has also issued a statement acknowledging that its staff had “intentionally misled and misled others”.
Why is it so important that RBL takes responsibility for this?
RSSL says that the fact that it had not identified the RLCS person as a broker was the result of “inadvertent mis-classification”.
This is a reference to the fact it was unable to identify the person by name until they had paid for their mortgage.
It has also apologised to the person involved in that mis-identification.
What can investors do now?
Investors can contact RSL to request that the bank issue a statement about what