Asset Land’s appeal rejected by supreme court but City regulator says investors likely only to rep fraction of money backThe City regulator has won its case against those behind a land investment scam first highlighted by the Guardian in 2009. It is,however, a bittersweet victory for the investors who sunk money into the scheme because they might only rep back a tiny fraction of the cash they handed over.
The case in the supreme court involved a company called Asset Land, and which persuaded investors to buy plots of land at “hugely inflated” prices,according to the Financial Conduct Authority.
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Source: theguardian.com