Jump to content
House Price Crash Forum
Sign in to follow this  
enrieb

Land 'scams' Techniques Revealed

Recommended Posts

Land 'scams' techniques revealed

http://www.bbc.co.uk/news/business-13462052

The strategies used by a landbanking brokerage to sell strips of land to unwary investors have been outlined to the BBC by a former employee.

The man worked for the Property Partnership, which sold virtually worthless plots across the UK.

Many were persuaded to pay tens of thousands of pounds for land that is unlikely ever to be built on.

The firm, believed to be ultimately controlled by Kent businessman Scott Assemakis, is now in liquidation...

Share this post


Link to post
Share on other sites

Peanuts.

What about the real "land scam" associated with every property in the country where the price of that land has been artificially pumped up to multiple times its economic worth through dodgy lending, bent interest rate policy and lopsided tax and regulatory policies?

Share this post


Link to post
Share on other sites

Peanuts.

What about the real "land scam" associated with every property in the country where the price of that land has been artificially pumped up to multiple times its economic worth through dodgy lending, bent interest rate policy and lopsided tax and regulatory policies?

+100!

Share this post


Link to post
Share on other sites
He said he was taken in by the high returns that were promised.

"They were so convincing. The broker told me the investment would achieve a profit of 100-130% in a period of 12 to 18 months," he said.

Blinded by GREED.

Land banking scams are when small plots of agricultural land are advertised on the internet or over the phone as investment opportunities.

http://www.actionfraud.org.uk/fraud-az-land-banking-scams

Share this post


Link to post
Share on other sites

Blinded by GREED.

Land banking scams are when small plots of agricultural land are advertised on the internet or over the phone as investment opportunities.

... such as this one ... er ... found on the front page of H.P.C. website

www.landfinderuk.com

"Cheap Land for Sale

Cheap plots of Land for Sale in UK Free Brochure. Buy plots of Land.

www.landfinderuk.com"

"Land in has always been one of the great financial opportunities available. Now, thanks to our unique set-up, we can offer excellent purchases for as little as £20,000. With possibilities at up to a five fold return on your investment in as little as two years. Can you afford to miss out"

Edited by johnny5thumbs

Share this post


Link to post
Share on other sites

http://www.guardian.co.uk/money/2009/jan/03/capital-letters-tony-levene-consumer-rights

Scott Assemakis involved with another fine wine investment scheme in 2009.

Additionally this blogger has revealed his margins http://investdrinks-blog.blogspot.com/2010/01/european-fine-wines-ltd-pavie-2003.html Land brokering is clearly more profitable.

---

http://www.watfordobserver.co.uk/news/724763.0/

Not sure if it is him but he had a crash racing his Mercedes with his friend (21yrs) in a Porsche.

Edited by Money Spinner

Share this post


Link to post
Share on other sites

Land 'scams' techniques revealed

http://www.bbc.co.uk/news/business-13462052

You are told that if you just stick with the company for 12 months they guarantee you will be a millionaire. It was very easy for me to go with them," he said.

Lifted straight out of Ben Aflleck's speech in

. Warning contains strong language. Edited by Money Spinner

Share this post


Link to post
Share on other sites

Hey if anyone wants to start off their own landbanking business, all you need to get you going:

http://www.rightmove.co.uk/property-for-sale/property-28781372.html

45150_NRNV179_IMG_00_0000.gif

£11,425

A large tract of land was subdivided into smaller plots as shown on the plan. These plots were sold by a land investment company and one is now available for resale.

Ah. Its only for one plot. Looks like an investor who probably bought it for £10K wants out.

Two more plots elsewhere

http://www.rightmove.co.uk/property-for-sale/property-30590483.html

http://www.rightmove.co.uk/property-for-sale/property-28103851.html

Edited by Money Spinner

Share this post


Link to post
Share on other sites

What is it that needs to be revealed that people cant understand?

A farmer has a field, say an acre, worth about £5k. He has grid lines drawn over the aerial photo and divides the field into 50 and sells each plot to simpletons as an investment for £10k each.

You almost have to admire it.

Share this post


Link to post
Share on other sites

People hand over six figures on the strength of a cold call from someone wanting to sell something that he says can be sold on for at least double in a year's time? Seriously, this is on the level of a guy in the street wanting to sell you magic beans.

Share this post


Link to post
Share on other sites

If you lot ever get depressed about money, think of this:

Jonathan Phelan, head of unauthorised business at the FSA, says: "We've even come across one high-net-worth individual who lost £3 million through this type of fraud"

http://www.moneywise.co.uk/your-life/scams-and-rip-offs/article/2011/05/18/beware-land-investment-scams

It would be nice to believe that but I dont for a second. No one with millions to invest would get caught with this. That is money being cleaned imo.

Share this post


Link to post
Share on other sites

It would be nice to believe that but I dont for a second. No one with millions to invest would get caught with this. That is money being cleaned imo.

Who knows (?) - it could have been a footballer or an actor. Think Nicholas Cage (lost $9.5m).

Share this post


Link to post
Share on other sites

Who knows (?) - it could have been a footballer or an actor. Think Nicholas Cage (lost $9.5m).

If he lost $9.5 then it was by selling something which he had paid too much for at the wrong time, not by buying 100ft square plots from some dipstick farmer in the home counties.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.