banking scam

Land banking is the practice of aggregating parcels of land for future sale or development.
While in many countries land banking may refer to various private real estate investment schemes, in the United States it refers to the establishment of quasi-governmental county or municipal authorities tasked with managing an inventory of surplus land.
In some cases the practice is run as a scam, with land being sold above its market value and its potential for future returns exaggerated.

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