Brazilian £21m housing Ponzi scheme solicitor struck off

The boss of a company that offered investment opportunities in Brazilian social housing, but which collapsed owing investors £21m, has been banned for 14 years after misleading his clients and failing to account for several millions of pounds of transactions. Ecohouse Developments Ltd offered investments in the construction of social housing in Brazil. Investors would typically pay £23,000 per unit and would expect to receive their capital plus a 20% return 12 months later. People were ...