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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Hong Kong police raid developer behind record flat sale AFP - Thursday, July 15 Send IM Story Print Hong Kong police raid developer behind record flat sale HONG KONG (AFP) - – Hong Kong police on Wednesday raided the office of a major property developer embroiled in a controversy over the collapsed sale of what was billed as the world's priciest flat. Officers from the financial hub's Commercial Crime Bureau swooped on Henderson Land Development's office in Hong Kong's financial district and took documents believed to be connected to the failed sale. Inspectors also searched a law firm allegedly connected to the failed sale of luxury flats at the exclusive 39 Conduit Road towers in the city's Mid-Levels residential area, local radio RTHK reported. No arrests were made, but authorities "invited a number of people back to the Commercial Crime Bureau to assist us in our investigation," Commissioner of Police Tang King-shing told reporters. Tang added that police had executed a number of search warrants at various locations during the raids, Dow Jones Newswires reported. A spokeswoman for Henderson Land declined comment. The property giant has previously defended the cancelled sales, saying they were above-board transactions that simply fell apart. Henderson -- controlled by Hong Kong property tycoon Lee Shau-kee -- has been at the centre of a brewing controversy after it reported last month that as many as 20 out of 24 units at Conduit Road had been cancelled. The scrapped deals included what was supposed to be the world's most expensive apartment, a 6,158-square-foot (554-square-metre) duplex that Henderson said in October had sold for 56.6 million US dollars. Critics have demanded a probe, asking why the cancellations only came to light eight months after they were first announced, which helped hike prices for luxury residential flats and stoked concerns about a property bubble in the former British colony. Questions have also been raised about the relatively small deposit that Henderson kept after the failed sales, and why all the buyers appear to have used the same law firm to process the transactions. Henderson was criticised for selectively numbering the floors on the 46-storey building as a ploy to attract Chinese buyers. The supposed 68th-floor duplex that snatched the world-record price was actually on the 43rd and 44th floors, according to reports. It was so numbered because "68" sounds like "continuing fortune" in Chinese and is considered lucky. Recommend Send IM Story Print Related Articles N.Korea to hold talks with UN Command on sinking AFP - 2 hours 25 minutes ago US, S.Korea to hold military drills after ship sunk Reuters - 2 hours 27 minutes ago Five-wicket Watson gives Aussies edge over Pakistan AFP - 2 hours 41 minutes ago Indian FM brings 'peace message' to Pakistan: report AFP - Thursday, July 15 Hague says new govt to build on China ties AFP - Thursday, July 15 News Search Top Stories Experts urge US to restrict drug Avandia US Fed weighs new measures as recovery falters Avandia increases risk of heart problems: panel Libyan aid ship set to dock at Egyptian port Rapid weight loss best way to slim down: studies More Top Stories » Most Popular Most Viewed Most Recommended Mel Gibson takes aim at Hispanics in fresh rant Penelope Cruz, Javier Bardem tie the knot 'Abducted' Iran scientist surfaces in US Obama vows to cut HIV cases with new AIDS strategy US trade deficit widens to 18-month high More Most Viewed » Reclusive top mathematician turns down prize, again Germany's 'Octopus oracle' keeps perfect record Amputee cat gets bionic legs Fans gather for Michael Jackson death anniversary Who's right - the dolphin or the octopus? More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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