land bank fraud Jamaica

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Land Banking Fraud in Jamaica: Selling Shares in Undeveloped Land That Never Materialises

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Land banking schemes that solicit investor funds in exchange for a share or fractional interest in undeveloped land have been used in Jamaica to raise money from investors attracted by the promise of profits when the land is developed and sold. When the underlying land is not as described, the development never occurs, or the operators misappropriate the funds, investors lose everything.