Eden Land Planning - Case Study

If you invested £100,000, then, according to Eden Land Planning's prospectus: £1,786 would go towards Professional Fees, and £98,214 would be used to purchase land at Redruth, Cornwall. That is what you agreed to in July, 2018. What really happened to your £100,000 was more like this: £1,786 went on Professional Fees, and £2,823 went on Stamp Duty, £65,848 was used to purchase land, and £29,542 was retained by Eden without your knowledge. Remember, all this happened 2 months  before Eden asked you to sign the Shareholders' Agreement. If challenged, Eden will argue that, in signing the Shareholders' Agreement, you agreed that any surplus money after completion of purchase be transferred from Redruth Eden to Eden Land Planning. But, 2 months before the signature date of the Shareholders' Agreement, Eden's Lawyer, ELS Legal, had receipted your investment of £100,000 and told you by letter that "these monies" would be used to purchase land, (not two-thirds

In June/July 2018, Eden Land Planning Ltd. raised £2.24 million from 22 investors on the strength of a prospectus document called the Investors Presentation. In July 2018, Eden used only two-thirds of the investment fund to purchase land at Redruth, Cornwall. Eden and their lawyer, ELS Legal, led the investors to believe that the entire fund (except 2% fees) was applied to the acquisition of land at Redruth, Cornwall. Immediately following completion of purchase, Eden quietly appropriated nearly one-third of the investment fund. (Best estimate, £661,750). The investors were never informed of this. Two months later, through ELS Legal, Eden issued a Shareholders' Agreement for signature. Eden appears to believe this document retrospectively justifies their retention of a large portion of the tendered investment capital without the investors' knowledge. Having effectively crippled their own project by withholding almost one-third of the investment fund, Eden has found it impossibl

I produced this document in March 2023. I am a private investor in the Eden-Redruth project. The document analyses the finances of the project and highlights Eden’s covert appropriation of a large portion of the investors’ tendered funds. Eden Land Planning Ltd. launched the project in 2018 but certain facts pertinent to this analysis did not come to light until February 2023, hence the late timing of the document.    Key Facts:  In 2018, Eden Land Planning Ltd. issued a prospectus against which they collected investment funds totalling £2,240,000. There were 22 investors.  The prospectus stated that £40,000 would be allocated for professional fees, leaving £2,200,000 for acquisition of land at Redruth, Cornwall.  The investors were thus led to believe that approximately 98% of their money would be invested in property and 2% spent on professional fees.  The investment money was paid to Eden’s lawyer, ELS Legal, who acknowledged receipt of each individual investment by letter and confi