SUSPECTS OF MALVERSATIONS OF THE HOFBORG PROPERTIES REAL ESTATE AGENCY

Posted by Brian Woods on November 9th, 2020

It is in the famous Cap D'Antibes, landmark of the billionaires of the planet that the real estate agency Hofborg Properties is rife. Rather discreet and working with mainly a clientele from Eastern countries as the shareholder couple likes to boast. Fabien Borgondo and his Russian-born wife Olga Borgondo are at the center of an investigation by the French authorities, following complaints filed by the owners of the villas that the couple managed to rent. A handful of owners and management agents of these wealthy people have come together to denounce the practices of the couple and their real estate agency.

The origin would be a conflict with one of the managers of a billionaire based abroad.

"The practices of the couple and their real estate agency"

The couple accumulate escapades: double accounting, commissions taken on all those involved in the management and maintenance of the luxurious properties of these rich owners. The commissions went up to double the amount of work done reveals one of them. The agency demanded the payment of retrocessions in cash to all companies and stakeholders on pain of no longer working with their wealthy clients.

The vase is overflowing, one of them, a small business owner, told us when we met, “even if these were the practices of the time in the sector, today renowned international real estate agencies no longer practice. so ".

"We have work, either, but we put ourselves in danger every time we have to handle cash for this gentleman, the game is no longer worth the candle because we must also tighten the prices ...".

This investigation initiated by the owners will undoubtedly extend to companies and subcontractors who have worked with the couple in recent years, but also mainly to tenants, who have all been harmed by paying double the price of the services requested.

The unpunished Eldorado of the Hofborg Properties agency and its shareholders, will certainly end as quickly as the collaborations with their clients who no longer wish to be duped, but also not to be under the fires of French justice.

The arrogance of the couple, believing themselves to be untouchable, will today have to bring to light their ways of doing things and their complicity with the contracting parties, and have to explain themselves on many details and handling of professional and personal cash.

“There is no more room for this type of practice” reveals a competitor representing a very well-known and reputable international brand, “it is the dishonor of our profession, which really does not need such an image. ". Fabien and Olga Borgondo will have to find other sources of income to support their lavish lifestyle.