The Department for Productivity, Energy and Industry (DPEI) has taken court action against six property firms, in order to cease them from trading, deeming it to be in the public interest.

The companies that DPEI (formerly DTI) has tackled for allegedly exploiting get-rich-quick schemes are Sterling Mansion (UK) and Mansion Investments, SMI (Overseas), Turningpoint Seminars, Portfolios of Distinction and CM2 Services.

The fear is that investors are being given misleading information regarding achievable rental returns and consequently being conned out of tens of thousands of pounds to enable these companies to construct buy-to-let apartments.