Daily Mirror (Northern Ireland)
IT’S ALL OVER FOR LAND BANKER
Lovely news for victims of a land banking scam.
Around 2,700 investors were conned into buying plots of land at prices of up to £30,000 after being told that the value would soar when the sites got planning permission to build houses.
This never happened and nor was it ever likely to, because the land at sites in the Midlands and South of England was greenfield.
Then they were told that the covenants they’d signed meant they had to pay annual fees for the upkeep of roads on the sites, even though none existed because no development had taken place.
When victims refused to pay they were sued by the company behind the deals, Terracorp Limited, run by 49-year-old
Baron Deschauer from Canada. He lost a case against multiple defendants in the High Court last year and has now lost an appeal. Mr Justice Mills summed up his case as amounting to telling the victims that they had “to pay an indefinite series of sums each year” and might never get anything in return.
One of the defendants was Kusum Thanki, who helps run the Land Banking Victims Association.
She bought a plot for £24,000, her covenant charges started at £140 and are increasing by 5% each year and have now reached £320.
“We are finally released from the unending, unreasonable annual demand and threat of legal action,” she said.
I’ve always admired foodbank charity The Trussell week, Trust. Until this advertising when I saw it of diversity for a director – on and inclusion £62,000.