Police probing sales of land plots appeal for help

City of London Police hare appealing for help and information after arresting three men in connection with a suspected £1m land banking fraud involving City-based firms.
 
The men, aged 26, 49 and 31, were arrested in Bromley, Kent, at a London office, and in Lewisham, south London.
 
All three were detained on suspicion of conspiracy to defraud and money laundering, and were later released on bail.

The operation came as detectives continued to investigate the activities of two companies that have been offering investments in plots of land.

Staff from Browne Mackenzie, which is now in liquidation, and Lawrence Taylor & Co Ltd are believed to have cold-called investors and offered land for sale at sites in Scotland and Northampton.

During these conversations, or in prospectuses subsequently sent, investors are suspected of being misled about the potential of the land to rise in value.

Detective Inspector Andy Thompson, from the City of London Police, said: “Since taking on this case we have moved very quickly to make these three arrests. Further action is anticipated in the coming weeks.

“It is now very important for anyone who has invested in land offered by these companies to contact us as soon as possible. Even the smallest pieces of information could prove crucial to our investigation.”

If you know of anyone who may have invested in land offered by Browne and Mackenzie and Lawrence Taylor & Co Ltd, they should email the investigation team at landsalesenquiry@cityoflondon.pnn.police.uk

City of London Police are currently investigating a number of cases of suspected land banking fraud.

People of all ages are being enticed into buying tiny plots of land, often in green belt areas, with the promise of rises in value of up to 20%. Being able to raise a mortgage on such a property would never be a possibility, and so all transactions would be in cash. Nor does the Property Misdescriptions Act seem to have applied in land bank marketing.

Police say the reality is that the promised profits will never materialise.