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)


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