A British property investment group based in Milton
Keynes is facing charges from federal authorities in the
United States that it is operating a multi-million pound
Ponzi scam – dipping into new investors’ money to pay
off earlier investors.
North Dakota Developments and its owners Robert Gavin
and Daniel Hogan are said to have raised more than $
62million (£40million) from almost 1,000 investors
through a network of sales companies that include
Property Horizons Group, which they also control.
Investors were told their money would finance the
construction of four ‘man camps’ – accommodation for
workers said to be flooding into the Bakken oil field
region of North Dakota.
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