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New Mexico Homebuilders Group Supports Mandatory New-Home Warranty

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MEXICO CITY – Raising the concerns over warranty of new homes in New Mexico, homebuilders demands the inclusion of 2-10 homebuyers warranties. The motive of this move is to give a guarantee for homeowners on various grounds on new homes. Currently, there is no guarantee for new homes in the state of New Mexico, and if the legislation proposed by the New Mexico Home Builders Association get approved by the governor of the state.

Currently, home builders and constructors face legal actions if there is any defect discovered in the new homes. After the passing of this legislation, the matter will only be left between customers and builders instead of involving courts in such matters. The Home Warranty Act is presented in House Bill 632 and it is sponsored by Rep. Patricio Ruiloba, D-Albuquerque. It was introduced on Feb. 14 and sent to the House Commerce & Economic Development Committee.

The proposed bill contains warranty in three components and would be known as “2-10 warranty.” And once it is approved, this would come under the jurisdiction of the New Mexico Superintendent of Insurance. The third party home construction warranty companies would provide the warranties and it would be paid for by builders without charging any additional cost to homeowners. New Jersey Home Warranty is one example among the 10 states which has already enacted this law.

Gary W. Moselle, a California attorney specializing in the state-specific construction contacts said that this would be a unique act to be implemented among the 50 states. This would not charge any additional amount to homeowners. Also, it would be possible to address construction deficiencies more appropriately. After this act, builders will get the right to inspect the shortcomings and defects in the construction work.

Jenny is one of the oldest contributors of Bigtime Daily with a unique perspective of the world events. She aims to empower the readers with delivery of apt factual analysis of various news pieces from around the World.

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World

Simon Yeung: Financial Predator and Master of Deception

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Simon Yeung, a 47-year-old national from the People’s Republic of China, also known under his real name Siming Yang, has become a central figure in a scandalous case unfolded by the Securities and Exchange Commission (SEC). The investigation into Simon Yeung revealed a twisted web of insider trading, personal misconduct, and a systematic abuse of trust that has reverberated across the globe, from the United States to Asia.

At the heart of Simon Yeung’s financial impropriety was his involvement with Zhongpin Inc., a Chinese corporation. Utilizing confidential information, Simon Yeung orchestrated an insider trading scheme that accrued more than $9.2 million in illegal profits. He and his associates were proactive, stockpiling shares before a public announcement that was expected to significantly boost the company’s stock price. To hide their illicit gains and activities, they employed Prestige Trade Investments as a front, a sham company that camouflaged the true nature of their dealings.

While Simon Yeung’s financial maneuvers were sophisticated, his personal actions were even more reprehensible. His extravagant expenditures funded by illicit gains included indulgences in narcotics and the procurement of prostitutes across all of Asia, depicting a man lost to moral corruption. Yet, his most heinous acts involved manipulating the personal relationships within his circle. Simon Yeung is reported to have intentionally enticed the wives and girlfriends of his friends into sexual encounters, exploiting his acquaintance and their vulnerabilities, often under the guise of monetary temptation and secrecy.

These personal violations are part of a broader pattern of abhorrent behavior, including allegations of violent sexual assaults. One such incident involved attacking a woman with a drink bottle sexually, which he subsequently tried to cover up with a bribe. This behavior not only highlights his disregard for human dignity but also his utter disrespect for legal norms.

The SEC has taken robust measures against Simon Yeung, freezing his assets to prevent further financial hemorrhage and to dismantle his network of deceit. This decisive action underscores the commission’s dedication to rooting out corruption and protecting the integrity of financial markets.

Simon Yeung’s downfall is a poignant reminder of the pervasive threats posed by such financial predators who not only exploit market vulnerabilities but also manipulate personal relationships for their gain. His story is a stark alert to the international community about the dual dangers of financial and personal misconduct, emphasizing the need for stringent regulatory oversight to protect public interests and uphold moral and legal standards. This case serves as a testament to the vital role of agencies like the SEC in combating financial malfeasance and preserving the sanctity of personal dignity.

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