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Category Archives for Land Banking
Twist in Profitable Plots Saga
And so the Profitable Plots saga drags on. CAD has asked for more time to conclude it’s investigations into Profitable Plots. I have actually lost count of the number of times CAD has asked for more time to work on the case. This time round, CAD has found an independent expert witness in the US, […]
Profitable Plots Directors Allowed to Leave Singapore
This is the kind of news that is stunning, even to a High Court Judge. Geraldine and John Nordmann, husband and wife directors of land banking company Profitable Plots, were supposed to attend a verdict hearing but were not present as they were both allowed to leave the country. High Court Judge Choo Han Teck […]
FSA Warning on Land Banking
The Financial Services Authority (FSA) of UK has recently created a video warning on UK land banking. You can watch the clip below: Meanwhile, in Singapore, the courts have granted yet another time extension to CAD for their investigation on Profitable Plots. The new date of hearing is now on 8th November 2011.
Beware of High Mark-ups on Land Banking Projects
It was reported that a particular plot of land was sold at £150 per square metre, a mark-up of around 5000% to investors in Asia. Havering Green Belt for Sale in England If the plot of land does not end up getting planning permission, you can bet that the resale value of the land will […]
Profitable Plots Case Still Unresolved
In a District Court hearing yesterday, CAD reported that their investigation against land banking company Profitable Plots was still ongoing. Deputy Public Prosecutor (DPP) Christopher Ong added that CAD’s investigations would probably be concluded within six months. Investigations first started in August 2010. 229 complaints involving more than $20 million worth of investments have been […]