Brazil: UK investors hit by £19 million Brazilian property scam

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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.

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Source : Brazil: UK investors hit by £19 million Brazilian property scam