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Forums Home > General Forum > £20m land sale referred to Serious Fraud Office

  

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Topic : £20m land sale referred to Serious Fraud Office

Peter
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Posts : 5064

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18/07/2013 : 18:31:18      reply with quote


The land was sold for about £20m but there are concerns it could have generated tens of millions more for the taxpayer.

The Wales Audit Office is focusing on the decision to sell the sites privately rather than a public auction.

The Welsh government has not commented but has defended the sale previously.

In March last year the parcels of land, situated across Wales, were sold to a Guernsey-based firm called South Wales Land Developments.

Instead of there being an open tendering process, 18 property agents and developers were approached and the sites were bundled together in one portfolio rather than sold individually.

(Does this sound familiar)

read more... www.bbc.co.uk/news/uk-wales-23304989
click for more information

kvs
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Posts : 157

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18/07/2013 : 19:00:24      reply with quote


The serious fraud office! Interesting. Looks like heads are going to roll in Wales. Wonder how that would work here?
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