Chinese student given $18m to buy Aus properties

A Chinese student who was sent $18 million-plus by his parents to invest in Sydney property instead blew part of the fortune on cosmetic surgery, luxury jewellery, a car and a lavish apartment, before a court ordered him to hand back millions and two homes. Allen Xu, 29, has lost his appeal against a Victorian Supreme Court ruling that found the money was not a gift, with judges ordering he repay almost $5 million and transfer two properties to his mother, Jiyun Ma. The Victorian Court of Appeal judgment, dated August 26 and published online, found Xu’s case was badly damaged by his own WeChat messages, in which he admitted the money and properties were his mother’s. MORE NEWS 49yo’s no regrets, rips up neighbour’s home Woman loses court bid to stop parents selling ‘her’ home The ghost town that was meant to be Australia’s capital In one draft apology message tendered in court, Xu described himself as “a greedy person, a dishonest person, an immoral person, and a very bad person” who “couldn’t control the devil living in my heart”. Allen Xu lived in the apartment in Haymarket. Picture: realestate.com.au Court documents show Xu came to Australia to study around 2020 and later comple...