Directors of a property investment company scammed almost £1.8 million in mortgage loans against homes worth around just £960,000 by passing off false valuations to a bank.
Ring-leader Mahmood Anwar Yaqub was banned from acting as a company director for 15 years by a judge at Birmingham County Court after an investigation by the Insolvency Service. Continue reading Property Fraudsters Scammed £1.8 million in Mortgages
Nine Leeds-based companies have been shutdown after they preyed on investors already duped by landbanking scams.
Each company claimed to be able to return some of the money lost on specific plots of land and investors bought shares. They were found to receive no influence in return; instead the money was used to pay salaries, leaving the company with no means of succeeding in its aims. Continue reading ‘Rescue Schemes’ Closed
Police are looking for Hothomes UK's owners
Police are seeking a letting agent who has disappeared owing landlords and tenants hundreds of thousands in rents and deposits.
Hothomes UK, based in Plymouth, is believed to manage around 2,000 rented homes and losses could mount up to £500,000 or more.
One landlord claims he is owed £4,630 in rents collected but not paid by the business. Others have received cheques that bounced and tenant deposits have been collected but not protected. Continue reading Rogue letting agent closes owing clients up to £500,000