A British property developer is being investigated in Brazil for alleged fraud over funds it raised to participate in a government housing scheme.
EcoHouse Group raised money from investors in the UK, Singapore and elsewhere, claiming it was investing them into Brazil’s Minha Casa, Minha Vida (My House, My Life) social housing programme. But it has been revealed that EcoHouse does not appear on the government’s list of companies participating in the scheme.
EcoHouse has suspended its business in the UK.
Financial Times, 19
