Brazil Property News

UK investors hit by £19 million Brazilian property scam

by Mark Benson on June 26, 2014

UK investors hit by £19 million Brazilian property scam

UK investors hit by £19 million Brazilian property scam

It has being revealed that UK real estate investors were tricked into acquiring £10,000 property plots in Brazil only to find the land is worthless. A company by the name of Pantheon Realty Consultants is alleged to have promised the land would be developed as hotels and resorts leading to a 20% per year return for investors. The idea had been for investors to benefit from the ongoing World Cup tournament although it seems that many investors will have a battle to get their money back.

The company is alleged to have operated from a prestigious address in London which seems to have caught the attention of investors. Unfortunately, what you see is not always what you get and if a property deal looks too good to be true then the reality is it probably is. [click to continue…]

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