Five individuals suspected of being involved in land banking by way of an unauthorised collective investment scheme have been arrested.
With the assistance of the City of London Police, the FSA executed search warrants on nine premises in Kent and Greater London and five individuals arrested. Nobody has been charged at this stage in connection with the FSA's investigation, which is ongoing. The FSA does not regulate land as an investment but collective investment schemes, including those concerning land, are subject to regulation.
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