Land Banking Company under investigation

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Land Banking Company under investigation

Postby roncha » Thu Mar 10, 2011 8:59 am

Today's "The Straights Times" highlighted about a land banking company known as "Profitable Plots" is under investigation by CAD.
Profitable Plots is selling lands in the UK & Philippines, and an industrial lubricant called Boron (Moron ? :) ), to retail investors in Singapore. The amount totalled up to $23.5 million, involving 229 compliants as of today.

Another land banking investment scam ???


Roncha
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Re: Land Banking Company under investigation

Postby Dennis Ng » Thu Mar 10, 2011 11:56 am

roncha wrote:Today's "The Straights Times" highlighted about a land banking company known as "Profitable Plots" is under investigation by CAD.
Profitable Plots is selling lands in the UK & Philippines, and an industrial lubricant called Boron (Moron ? :) ), to retail investors in Singapore. The amount totalled up to $23.5 million, involving 229 compliants as of today.

Another land banking investment scam ???


Roncha


this is old news. They have been under investigation since year 2010.

In my seminar "How to Save and Accumulate One Million Dollars" I have warned about UK Land Scams since May 2009. I hope I managed to save some people from avoiding to suffer loss due to such scams.

Land Banking is a tried and proven way to get Rich in property, but there are Land Banking scams, so in the seminar, I share a few questions to ask that will help people avoid most Scams out there, in whatever forms the scams might take.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Re: Land Banking Company under investigation

Postby lootster » Wed Jul 11, 2012 11:11 am

This is an email I received through Tan Kin Lian newsletter, just to share for the benefit for all seminar graduates....
---------------------------------


I received an e-mail from this concerned citizen of Georgia. I am posting the e-mail with all reference to the land banking promoter removed, but indicated below as X. Those who have invested in this project will know which is X. If you have been misled into investing in this project, and you wish to take join a group to lodge a complaint collectively, please send an e-mail to kinlian@gmail.com.

For other people, do read the statements presented below carefully. Most land banking schemes follow the same pattern, i.e. the land plots are offered at 10 to 20 times of their actual value.

Click here to indicate that you have received this message

Click here to add your friends and contacts to receive my mailing in the future

Dear Mr. Tan Kin Lian,

I live in Jackson County, state of Georgia, USA. This is a small, very rural county about 60 miles from the city of Atlanta. X has been buying up some big tracts of land here and is proposing to develop them for housing and industrial sites, but the land CANNOT be developed -- it's against local zoning laws, and there is no water or sewer service available.

I recently learned that X sells fractional interests in these tracts of land to small investors in Asia through sales offices in Singapore, Tokyo, Kuala Lumpur and Hong Kong. These sales are at crazy prices!

As you probably heard, we had a housing and property bubble here up till 2007, but the bubble popped. Jackson County now has about a 20-year supply of building lots available, and they can be bought for $6000 - $10000 per acre. A 37-acre piece of land next to mine recently sold for $4000/acre. From a brochure I found, it says X is selling these lands to small investors in Singapore, etc. for the price of over $82,000 per acre! 

In Georgia, it's hard for us to believe people would pay stupid prices like this, but here is the data from our county's own tax records showing that over 1,600 Asian investors bought this land at the price of $82,500/acre: 

Here is my question: How can X do this? How can these buyers be so stupid? They will never get their money back. If these investors pass this land on to their grandchildren, it will still never be worth what they paid for it--the county has huge amounts of land that is already zoned for housing and has water and sewer available. These lands are available for MUCH less than the Asian small investors paid.

What is X telling these people, that they will be able to sell at a profit in a couple of years? Or is this a Ponzi scheme, where money from new investors is used to pay off prior investors?

In Georgia, we would like to hear your reply because we are afraid X's landbanking schemes are very harmful to our community, and they may also be harming small investors in your country.

Thank you for your help,
James  


Tan Kin Lian
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Re: Land Banking Company under investigation

Postby dragonhart2 » Tue Jul 31, 2012 9:58 pm

hi looster,

tks for sharing....if anyone wants to invest in raw land overseas, pls do some homework and invest with a well established company with proven track record.

in Spore, there's only 1 such company.

cheers,
jason.
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Re: Land Banking Company under investigation

Postby wemakebread » Wed Jun 11, 2014 8:42 pm

Article from Singapore Law Watch
Source: http://www.singaporelawwatch.sg/slw/hea ... -jail.html

Above article quoted the source as Business Times, 10 Jun 2014
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