Land investment scams on the increase in the UK

According to BBC News, land investment scamming is now a growing problem in the UK. Around £42 million has been invested in these scams which are being currently investigated by the FSA.

It seems that in recent times, an increasing number of people have been cold-called by companies offering land for sale that they say is ‘ripe for development’.  As a result of this and the volume of complaints from the public, the FSA has reacted by looking into around 20 of  the scams in which many people have been tricked into handing over cash for property that either did not exist, or did not have the value, features, or growth potential indicated by the sellers. The country’s police forces are also on the alert.

BBC News lists some of the victims and their comments:-

Helen, Bracknell

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