Almost 500 UCIS land investors could be due payout - FCA

Between 2005 and 2010, approximately 870 investors invested some £32.8m in unauthorised collected investment schemes established and operated by Countrywide Land Holdings, Regional Land and Countrywide Holdings, and Consolidated Land UK. These schemes sold plots of land across the UK with the promise that investors would make a significant profit when the land obtained planning permission and was subsequently sold. Following High Court cases in which the unauthorised businesses were ordered to repay investors, the FCA has received some £2.5m from a directly related Panamanian company,...