The phrase ‘land banking’ comes from the business practice of buying plots of land in the expectation or hope that it will increase in value. When ‘banking’ the land, the buyer often predicts that the land will be required for housing development, that planning permission will be granted or foresees a need for specific infrastructure. When that day comes, the buyer can sell the land at a profit. All of this is legitimate business.
Any land banking, however, carries risk. Not every plot of land will be developed in the lifetime of the buyer. In business, risk is often key to profitability, as with land purchase. However, the authorities will sometimes accuse individuals of fraudulent activity around land banking, ignoring legitimate risk profile. Sometimes buyers can mistake their bad luck for fraud.
The buyer is provided a misrepresentation that the plot of land which they are purchasing will increase in value. However, there is no planning permission in place, or it is inadequate, or there is no housing development or there is no requirement of any specific infrastructure.
There have been a few categories of activity that the authorities have prosecuted as fraud. Here are a few examples:
An individual is promised that the land will increase in value after purchase. Whether this is fraudulent can turn on the state of mind of the individual making the promise.
A buyer liaises with an individual who encourages them to buy a plot of land, telling them that the land will increase in value. The seller sometimes acts as a broker and sometimes sells directly. However, the land does not exist, and the transaction is false.
A seller might sell a buyer a piece of land legitimately and fairly but misstate elements of the land. A common example of this is the seller mistakenly claiming the land already has planning permission for development.
If you are arrested for this offence, you will be taken to a police station for the purpose of being interviewed under caution. Among other rights you have the right to be represented at this interview by a solicitor free of charge. This is usually a duty solicitor nominated by the police. You also have however the right to nominate a solicitor of your choice. The solicitor will be able to obtain some information from the investigators about why you have been arrested and will be able to discuss this with you and provide you with advice prior to the interview.
ABV Solicitors have expert fraud solicitors able to attend the police station on short notice nationwide.
Upon receipt of such a letter it is critical that you seek the assistance of a solicitor immediately. ABV Solicitors will allocate a specialist fraud solicitor for you and make arrangements on your behalf to liaise with the investigators and facilitate an interview at your convenience.
This will allow sufficient time for you to arrange a face-to-face meeting with a specialist solicitor in advance of any interview so you can be advised, and fully prepared on what to expect.
We are here to fully support you and those concerned during this difficult time. Obtaining immediate legal advice can make all the difference to the outcome of the investigation.
This can be an extremely stressful time for you, your family and your business.
You may have already been interviewed and released on bail or released under investigation. You may have not used a solicitor at all during your interview or are not confident with the solicitor who represented you and require a specialist solicitor with experience in this area.
Whatever the situation, ABV Solicitors have a dedicated team of experts who are experienced in allegations of land banking fraud and who can provide you with sound advice and assistance.
If you have been charged with insurance fraud you must seek the assistance of a defence specialist immediately. ABV Solicitors have a dedicated Fraud and Financial Crime department consisting of experienced solicitors who are specialists in this field.
ABV Solicitors can provide immediate advice and assistance and assist you and your business during this stressful time.
Law enforcement agencies such as the police, HMRC, FCA or SFO often use ancillary powers in addition to making arrests and search warrants. These include applying for Restraint Orders or Account Freezing Orders under the Proceeds of Crime Act 2002.
The purpose of this is to prevent those under suspicion to dissipate assets which may have been acquired through the commission of committing offences.
These Orders are draconian and can cause severe disruption to the lives of individuals and those connected to them including their businesses.
ABV Solicitors have a dedicated team of experts within their Fraud and Financial Crime Department who specialise in tackling these Orders.
If any of the above circumstances apply to you or someone you know contact ABV Solicitors Fraud and Financial Crime Department immediately on 0344 587 9996 or visit our website at www.abvsolicitors.co.uk
ABV Solicitors are available 24/7 and offer their professional expertise and assistance nationwide.
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