Land used by jailed fraudsters up for sale

Hulcote village
Hulcote village

The land once owned by multi-million-pound fraudsters is up for sale – but buyers are being warned about its potential.

A pair from Kent are spending four years and eight months behind bars after conning the elderly out of £10 million between 2005 and 2010.

Matthew Noad, 30, and Clive Griston, 52, ran a London-based boiler room scam to fleece victims who thought they were investing in a site ripe for development.

But the patches of land across the UK – including in Hulcote – had little or no value and, instead, the money paid for luxury items including a £109,000 Bentley.

The site, just outside Towcester, is now being sold by the liquidators, and South Northants Council (SNC) has removed any right to build on the land.

It is subject to an Article 4 Direction, which even forbids the construction of a new fence or the repair of any existing fence.

The only possible use for the land, without further planning permission, is agricultural.

The scam also included land in Dumbarton, Scotland, and in Collumpton, Devon.

Most of it was in flood zones or areas of historical significance which had no prospect of gaining planning permission.

Noad made more than £2 million by funnelling £655,000 through the account of his dad, Roger – a former Coutts banker.

Matthew Noad and Griston were jailed in April for the five-year scam and told they could not be company directors for 10 years. Roger Noad was jailed for three years.

Anyone can speak to the SNC planning department about proposed land deals.

The history of a plot of land can be checked online here