The Financial Services Authority (FSA) has frozen the assets of three companies suspected of running a land banking operation.
A High Court order has been issued against Asset Land Worldwide, Equity Services London and Asset Land Investment, as well as three individuals who could not be named for legal reasons. The FSA said the activities of the companies and individuals amounted to an unauthorised collective investment scheme. The regulator has also obtained court orders to prevent any of the companies or individuals involved from selling plots of land on particular sites pending further investigation. These sites, upon which the firms are believed to have promoted and sold plots of land, are in Stansted,...
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