Landal Greenparks lodge investment

jimjames

Albermarle said:

 Solicitors Regulation Authority advice to the Public on 'Too good to be true Property schemes'

SRA | Beware of 'too good to be true' property and investment schemes | Solicitors Regulation Authority

A key point is that if you must get involved then use your own solicitor and not one suggested by them, as they are likely in on the scam.

That's a very useful link. For clarity it's worth pointing out that no-one is suggesting that Landal Greenparks Lodge investment is a scam and that it is a real company although it should also be highlighted that it is a very high risk investment to put money into a brand new company that has no track record. It is likely that you aren't buying a property or land but lending money to the company and if they fail to pay your money back then you have little recourse as investors in Storage pods and airport parking spaces have found. Parking spaces is an interesting one too - they were "guaranteeing" the interest payments yet something like Covid19 strikes and no-one is flying so would have no money to do so.

Albermarle

 For clarity it's worth pointing out that no-one is suggesting that Landal Greenparks Lodge investment is a scam 

You are right, I should have been more careful with my wording .

It is likely that you aren't buying a property or land but lending money to the company

In the case I heard on the radio , they ( do not remember the company name ) did go through the motions of actually buying/selling/leasing  property ( I think it was also holiday homes ) . However they pushed the clients to use their solicitor(s) and they did not act in the clients best interests and when the scheme collapsed the clients had no recourse as the paperwork was not correctly done.

Some years later the solicitors were struck off.

Malthusian

Albermarle said:

You would think a Finance Director would have more sense, but I was listening to a similar story recently where the solicitors involved were eventually barred ( can't remember where ) and one of the people who lost a load of money was a retired financial advisor !

The perennial question "how can an accountant / financial adviser fall for a scam" can always be answered with "refer to Sturgeon's Law".

Financial advisers are very good at coming up with convincing-sounding reasons to believe a scam is real, that's why they so many of them have been recruited to flog scams. An aging retired financial adviser is particularly likely to fall for the logic of "A financial adviser wouldn't fall for a scam, I am a financial adviser, therefore this must not be a scam".

"How can a finance director fall for a scam" is actually a variant on a different question, "how can a person fall for a scam". No qualifications are required to be a Finance Director; any given FD might be highly qualified and experienced in business finance, or they might be the second son of the business' founder.