BMG Browne Mackenzie = Fraud?

PasturesNew

Personally, if I had a family/kids and some investments ... and was looking for a bit of diversification to pass through the generations, I'd have willingly bought a bit of land (after I'd seen it). Chances are that one day, maybe in 200 years' time, it'd get planning - and then some lucky bugg4h descending from me at some random future point might have a great day.

But, as the others have said ... nobody yet has actually said what's been bought.

sduffield76

We have spoken to the Metropolitan Police and they have pointed us in the direction of action fraud (actionfraud.org.uk)

We are currently in the process of reporting Browne Mackenzie for fraud.

They recommend that you put down all details you have ie dates, who you contacted, who contacted you and the amounts of money involved.

I think that the more people they have posting complaints about Browne Mackenzie...the more they will do. So PLEASE can you use this site and lets get the ball rolling.

harvestman

I wonder whether reporting BMG for fraud at this stage is jumping the gun. I think we should first ascertain the facts.

I have discovered, for example, that their lease on the Basinghall St offices expired last week and they chose not to renew it. Since this is their registered office and they are a limited company, I wonder if we should find out who the Director(s) are and whether they are planning to register new offices somewhere else.

Ownership of the land in question is also a key question to be resolved.

I'd rather discuss these matters in a forum of interested parties rather than this public space.

pararct

Surely anyone who is about to part with tens of thousands of pounds in exchange for property would have a solicitor run over the contract?

If the land was sold on the basis of PP being granted then if this was not likely to be the case the solicitor would be aware and would advise accordingly.

The land brokers may be guilty of misrepresentation but Fraud? End of the day money was exchanged for goods which in this case was a parcel of land.

Pretty much the same as someone parting with £10,000 for a beat up mark 3 Cortina on the sellers promise that it will be worth 10 times more in the future.

If it sounds to good to be true then 99.99999% of the time it is.

For those that have been scammed I would get a legal expert to explain the difference between mis representation and fraud before you go launching proceedings through the Courts. It will probably all hinge on the intention to deceive. Proving one or the other could be very problematic and will run contrary to the established position of Caveat Emptor. That is of course is dependant on you finding the !!!!!!$ in the first place.

You could well be chucking good money after bad.

GDB2222

ILW wrote: »

Do the people claiming they have been defrauded actually own the land they have paid for?
If they do, there is little chance of there being any fraud.
If the sellers just ran off with the money and they did not get title to the land, then there should be a case.

That's too simplistic. It depends on what was said to people to induce them to hand over their money. In my experience chatting to land bankers over the phone, they make the most ridiculous claims verbally - certainly fraudulent. However, they are much more careful what they put into writing. So, a fraud may well have taken place, but proving it may be difficult or impossible. It would help if a large number of victims came forward and had the same story to tell.

GDB2222

PasturesNew wrote: »

Personally, if I had a family/kids and some investments ... and was looking for a bit of diversification to pass through the generations, I'd have willingly bought a bit of land (after I'd seen it). Chances are that one day, maybe in 200 years' time, it'd get planning - and then some lucky bugg4h descending from me at some random future point might have a great day.

I have some magic bean to sell you, only it will take 100 years for the magic to activate. Money back guarantee if they don't work!

The land bankers were selling small plots of agricultural land (worth maybe £100) for a large fraction of the price of building plots, ie £10k-15k. You could buy a whole field for the price of these plots. Then, at least, you'd have something to pass on.

Davesnave

GDB2222 wrote: »

The land bankers were selling small plots of agricultural land (worth maybe £100) for a large fraction of the price of building plots, ie £10k-15k. You could buy a whole field for the price of these plots. Then, at least, you'd have something to pass on.

You'd have something to maintain too. Here speaks someone who has had to put in over 1/2 kilometre of fencing this year, and also have all the hedges cut as an annual expense/chore. So far, the return has been one freezer pig!

Investment in land is not for the casual individual. It can work, when attached to an existing house, but ownership brings responsibilities, or it ought to, in a world where many are hungry today.

ILW

I was sold a lottery ticket the other day and was led to believe it could be worth millions. I have now found out that due to some wrong numbers being drawn it is worthless. Who do I report this fraud to as the person that sold it to me refuses to refund my money?

GDB2222

Were you told your lottery ticket had say a 1 in 10 chance of winning the jackpot? If so, you were definitely defrauded.

ILW

GDB2222 wrote: »

Were you told your lottery ticket had say a 1 in 10 chance of winning the jackpot? If so, you were definitely defrauded.

They were a little vague on the actual risk factor, but I definately got the impression that I would be in the money. Should I go to the police or is this more something for the FOS.