BANNED 1; INVESTIGATE.Byline: Penman; Sommerlad THE lies behind the latest land banking scam have been laid bare. Townfield Land Investments raked in pounds 3.3million by selling plots on greenfield sites, telling investors the price would rocket once it got planning permission planning permission Noun formal permission granted by a local authority for the construction, alteration, or change of use of a building planning permission n → licencia de obras . Hardly likely because the site was near a flood plain and an area of outstanding natural beauty - the plots sold for around pounds 9,000 were worth just pounds 150. In 2007 we warned that Townfield faced being shut down in the High Court and now boss 36-year-old Neil Westley has been banned from acting as a company director for 13 years. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Insolvency Service The Insolvency Service is an executive agency of the United Kingdom's Department for Business, Enterprise and Regulatory Reform (BERR) which:
Lied in claiming some of the land was brownfield site, and likely to get planning permission. Lied about the directors themselves investing in the site. Lied about the company carrying out "exhaustive" checks to ensure it had a realistic chance of getting planning permission. And lied about being experienced developers who had got planning permission on two previous land banking projects. |
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