A company marketing plots of land as an investment opportunity has been wound-up by the High Court in Manchester following investigations by both the Companies Investigation Branch (CIB) of the Insolvency Service and the Financial Services Authority.

From February 2005 to November 2006, Sinclair Deville Limited (SDV), offered "investment opportunities" to private individuals under a scheme in which fields purchased by the company were divided into plots of land and then sold for investment purposes.

SDV was described in promotional literature as a land banking business aimed at identifying and securing prime undeveloped land before planning consent is granted. Land acquired was divided into smaller plots and sold to private individuals with a view to planning permission being obtained for the site as a whole. Investors were recruited on the basis that the value of a site would increase substantially if planning permission was obtained.

(Via Government News Network. To read the full story, click here)

A director of a property fund management company based in London has been disqualifed for four years following an investigation by Companies Investigation Branch of the Insolvency Service.

Mr Baljinder Chohan was the founding director and controlling shareholder of UK Property Fund Managers Limited ("UKPFM"), a company set up by Mr Chohan to co-ordinate the launch of a property fund and to raise up to £1billion equity for that fund. The company was based at the office of an associated company under Mr Chohan's control, UKLI Limited.

(Via Business Credit Management UK. To read the full story, click here)
(See also: UK fund manager disqualified via PropertyWeek.com)

The BBC carries a story about a share scam perpetrated against British investors.

A father and daughter have been accused of tricking 15,000 mostly elderly British citizens out of more than $70m (£34m) by selling worthless shares.

Investigators allege Paul Gunter, 58, and daughter Zibiah, 25, from Florida, sold fake shares in 50 dormant firms...

... The BBC's Andy Gallacher, in Miami, says it is thought the Gunters hijacked the identities of the dormant, publicly traded companies and used high-pressure sales techniques to sell worthless shares to British investors.