The FSA has launched High Court proceedings against land banking operations accused of scamming investors out of £45m.
The FSA has launched action against six firms it suspects of selling land to investors that would never be given planning permission or stand any chance of being developed, according to the Telegraph. Examples of land being marketed includes a plot in a site of special scientific interest, one with no access and another on a near 45-degree slope. Three cases are currently going through the High Court, according to the newspaper. They include action against James Kenneth Maynard and Countrywide Holdings; action against Stephen Watkins, trading under the name Consolidated Land; and a...
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