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STANSTED AIRPORT This deal was to prove the tipping point in Lynda's relationship with Colin Coats.

The audacious plan was to be part of a consortium that would buy a piece of land next to Stansted airport near London.

The land would then be flipped and sold to a third party for development for a substantial profit.

Flipping is the fraudulent practice of artificially increasing the book value of an undeveloped parcel of land well above its fair market value.

A group of colluding buyers purchase and resell the same property among members several times, each time increasing its price.

They then sell it off, putting the buyer at risk of losing a large sum when the property's value declines to its true market level.

Coats claimed PS85,000 of his money was invested in the deal without his consent.

DANISH BEARER BONDS THE Stansted deal involved PS6.6million worth of fake Danish government bearer bonds.

A bearer bond is a debt security issued by a business or government. It is unregistered and whoever physically holds the paper on which the bond is issued owns the instrument. This is useful for investors who wish to retain anonymity.

LOCHBURN GATE, GLASGOW - Lynda took PS30,000 deposits for the new development. But she never paid a reservation fee for the flats and spent the money.

MORTGAGE FRAUD Lynda provided replacement bank statements for people trying to get a mortgage.

PATRICK BURNS - Told the court he was left PS20,000 to PS30,000 out of pocket by Lynda after entering into a deal on city centre apartments.

Coats later pursued him for cash and threatened to gouge out his eyes and shoot him.

He also stole Burns's BMW, the jury heard.


SCAM J Stansted airport
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Publication:Daily Record (Glasgow, Scotland)
Date:Apr 9, 2013
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