Can we help our relatives, and those we know to be vulnerable, steer clear of such scams? Insolvency proceedings against the fraudsters can run in parallel to prosecutions and see a recovery to creditors but this can be a rare occurrence.
FIVE people have been jailed for a combined total of 29 years for being part of a £3m land banking fraud which scammed more than 300 victims from across the country. Land banking fraud involves investors being contacted with cold calls, mail shots, brochures or websites and encouraged to purchase plots of land in the belief they are investing in land that will significantly increase in value. The fraud related to the involvement of five people, three of whom are from St Helens, with Land Banking (UK) Plc and Land Strategy Limited.