Land Banking
United Kingdom | 15 Mar 17
Two directors handed lengthy bans for worthless land scam
The directors of two companies have been banned for a total of 26 years for selling worthless land as an investment, in a scam that netted £2.2m ($2.7m, €2.5m) of which the directors retained £1.3m in commissions.
Tax & Regulation | 21 Apr 16
Bogus UK land bank ordered to pay £21m after losing appeal
A British land bank scam which sold investors small plots of land at hugely inflated prices has been ordered to pay its victims £21m ($30.1m, €26.5m) after losing a Supreme Court appeal which challenged an earlier ruling, the Financial Conduct Authority (FCA) has revealed.
Australian regulator cracks down on land bank schemes
Australia’s main financial regulator is seeking to wind up two land banking schemes as part a crackdown on the real estate investment vehicles.