Friday, September 4, 2009

UK: Director of Land Banking Company Gets Seven Year Ban

Read this article. It shows the possible wrong doings that can be committed by a land banking company, such as:

a) mis-representing the product
b) no proper accounting of the investment funds
c) repeated sales of the same plots

If this wrong doings are committed by a land banking company operating in Singapore, which Government authority is responsible to take action? Is it MAS, Commercial Affairs Department or some other body? If the investor makes a complaint, will the relevant authority make an investigation?