A Swiss company that sold land in Southern England as part of a scheme which left investors owning useless plots bought at inflated prices has been ordered into compulsory liquidation.

Hambrook & Greenstock AG ran a land banking business selling plots of undeveloped land to UK investors at three sites at Sible Hedingham, Marlow, and Chalford. The company bought the land for just over £600,000. Some 750 plots were subsequently sold to investors for £5 million.

The petition to wind up Hambrook & Greenstock AG, in the public interest, was presented following an investigation by the Department of Business, Enterprise & Regulatory Reform (BERR).

BERR Minister Pat McFadden said:

"This should send a message loud and clear to fraudsters who think they can rip people off and get away with it. These people used a slick sales pitch to swindle honest investors who ended up out of pocket.

"We're determined to crack down on these scams. The public should be wary of aggressive land sales offers."

(Via The Central Office of Information. To read the full story, click here)


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