Property News · April 20, 2016

FCA wins landbanking case, but investors still likely to lose out


Asset Land’s appeal rejected by the supreme court but the City regulator says investors ‘are likely only to get a fraction of their money back’The City regulator has won its case against those behind a land investment scam first highlighted by the Guardian in 2009. However, it is a bittersweet victory for the investors who sunk money into the scheme as they might only get back a tiny fraction of the cash they handed over.The case in the supreme court involved a company called Asset Land, which persuaded investors to buy plots of land at “hugely inflated” prices, according to the Financial Conduct Authority. Continue reading…

Source : theguardian.com
Read more…FCA wins landbanking case, but investors still likely to lose out

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