PHOTO: Former Ralan salesman Stanley Xie. ABC News: Jerry Rickard

Stanley Xie feels angry and frustrated. Most of all, he feels a sense of guilt.

Key points:

  • Property developer Ralan Group’s collapse has left thousands of investors facing financial ruin
  • Many investors were Chinese-Australian who stand to lose millions on apartment projects — some of which were never built or finished
  • The case has raised concerns about the role of legally questionable financing of off-the-plan developments across the industry

“Because of me, they lost their money,” he said.

“Because of my sales, because I pushed, Because I allowed such a tragedy to happen.”

Mr Xie was a salesman with the property developer giant Ralan Group prior to its spectacular financial collapse that has left thousands of investors in its wake.

As a Ralan salesman, Mr Xie’s job was to spruik a form of property investment the company’s administrator now says was legally questionable.

He is speaking out about what he saw at the property behemoth in the hope it will help the 2,300 investors who have watched almost $300 million worth of deposits in off-the-plan apartments vanish.