Two fraudsters who used worthless parcels of land to scam investors out of more than £10million have been jailed.
Matthew Noad and Clive Griston, both from Kent, ran a London-based boiler room scam where returns of several hundred per cent were promised to investors from sites which were ‘ripe for housing development’.
In reality the land at Hulcote, near Towcester, Scotland and Devon, had little value with no prospect of gaining planning permission.
South Northants Council has reminded people they can speak to the council about proposed land deals and check the planning register to find out if land is subject to planning applications. Noad and Griston pleaded guilty in December and, combined with a scame in relation to carbon credits, were sentenced at the Old Bailey to four years and eight months each in jail on April 22.