FSA wins £200k from illegal landbanking scheme in High Court

On 9 December 2011 the FSA secured a summary judgment in the High Court against Cityshore Commodities Limited and its director Aaron Walker. The judgment confirmed Cityshore sold land illegally to UK consumers. Mr Justice Peter Smith ordered Cityshore and Walker to make an interim repayment of £200,000 through the FSA, to their victims. They have also been banned for life from selling land by way of business in the UK. Earlier this year, as part of the same case, a manager of Cityshore, Ashley Cunningham consented to a similar ban and an order requiring her to pay to the FSA sum...