Another man has been sentenced in a landbanking fraud where sentences of up to eight years have already been handed down to seven others.

Adam Hawkins, who was convicted last month at Southwark Crown Crout, has been given six years and nine months in prison.

He had been involved in operating three land banking companies where over 110 investors lost at least £4.3m.

Hawkins primarily worked as a salesman and was involved in the management of the three land banking companies, Plott UK, European Property Investments (UK) and Stirling Alexander.

Georgina Philippou, acting director of enforcement and market oversight at the FCA, said: “This investigation and prosecution by the FCA has led to immediate custodial sentences for eight people totalling 32 years and nine months, showing how seriously the courts view this kind of offending.

“This prosecution demonstrates that we will not shy away from taking firm and decisive action to protect consumers and the integrity of the financial services industry, as well as holding individuals and companies to account for illegal investment activities.”

Confiscation proceedings are being pursued against all defendants.