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Landbanking……
Landbanking, as it is often called, is where a company purchases plots of land for resale to investors. There are some companies out there who do conduct themselves entirely appropriately and advise clients on the risks of such investments along with advising honestly on the land they are selling.
There are also companies out there who are acting fraudulently, acting dishonestly, lying to investors, giving overly exaggerated expectations of profit and promising to obtain planning permission on behalf of the investor along with guarantees of planning permission being granted.
Indeed i see many articles in the press of the regulators shutting these schemes down to protect the consumer. However, when people fall victim of these schemes, generally there is little that they can do to recover their monies.
Take the Asset Land Landbanking scheme, Asset were shut by the FSA, despite freezing orders being obtained is there any real likelihood that the investors who invested their life savings into the scheme would ever get their money back? The answer sadly is “No” not from the Asset Land company anyway. The directors of Asset Land are being prosecuted, any monies recovered will go to funding the legal costs of the regulators first and foremost in my opinion, secondly there is no guarantee that there will be any money recovered even with a freezing order.
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There are also companies out there who are acting fraudulently, acting dishonestly, lying to investors, giving overly exaggerated expectations of profit and promising to obtain planning permission on behalf of the investor along with guarantees of planning permission being granted.
Indeed i see many articles in the press of the regulators shutting these schemes down to protect the consumer. However, when people fall victim of these schemes, generally there is little that they can do to recover their monies.
Take the Asset Land Landbanking scheme, Asset were shut by the FSA, despite freezing orders being obtained is there any real likelihood that the investors who invested their life savings into the scheme would ever get their money back? The answer sadly is “No” not from the Asset Land company anyway. The directors of Asset Land are being prosecuted, any monies recovered will go to funding the legal costs of the regulators first and foremost in my opinion, secondly there is no guarantee that there will be any money recovered even with a freezing order.
More...
