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HLS and it's buy to let

Financial Monkey | 30.09.2008 07:41 | SHAC | Animal Liberation

Buy-to-Let is the issue that is most vulnerable in the current econmic climate.Lenders are looking at all Buy-To-Lets and are putting up interest payments and pulling the plug. HLS have a huge outstanding buy to let. Andrew Baker, CEO of HLS, owns the company that bought HLS property to let it back to them.

Andrew Baker looks like he's having a few problems with the business deal he told friends was a "one way bet". You're right Andrew it was one-way.

Baker set up a seperate company to raise money so they could buy HLS property using the money to pay off some HLS debts and then renting back the buildings from the holding company aker set up. In anyother company a CEO buying his own building to rent it back to himself would be considered fraud in HLS the regulators allowed it.

Now those dodgy dealings are to come back to haunt Baker. He was found running round panicing when stocks started falling, at one point crying due to the loss of money. You never cried for the animals so you won't get any sympathy for us.

Financial Monkey