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Stabroek News



Land snatched - World Wise head claims property stolen by investor
published: Thursday | October 9, 2008

Arthur Hall, Senior Staff Reporter

The National Lands Agency (NLA) is refusing to accept blame for what appears to be a growing problem in which properties are being transferred without the knowledge of the owners.

The searchlight has been placed on this phenomenon following recent reports of the alleged illegal transfer of a property belonging to Noel Strachan, the chief executive officer of the troubled alternative investment scheme, World Wise Partners.

By a businessman

It is believed that the property was seized by a businessman after several unsuccessful attempts to collect almost $150 million he had invested in World Wise.

"As far as we are concerned, a registrable instrument of transfer has to be executed by all the persons on the title and stamped by the Stamp Office before the transfer is registered," Senior Deputy Registrar of Titles Joan Walker told The Gleaner.

According to Walker, the NLA has received "one or two" reports of property being illegally transferred and these are referred to the police.

Precautions

"We take precautions to ensure that all documents that are lodged are properly executed. They have to be witnessed by a lawyer or a justice of the peace or other persons specified under Section 152 of the Registration of Titles Act," Walker said.

The NLA has been cleared of any wrongdoing by attorney-at-law Christopher Townsend, despite his having at least three cases on his desk where property has been transferred without the knowledge of the owner.

"It happens every day. Anybody can sign your name, but it needs to be authenticated by a justice of the peace, a lawyer or a notary public so it is not a Titles Office (NLA) problem," Townsend said.

Townsend is also representing Strachan, who is trying to recover property that he alleges was illegally transferred.

"My client called me from overseas and indicated to me that he had heard that his property was transferred and asked me to verify the claim. We made contact with the Titles Office and found out that his property in Stony Hill Heights, St Andrew, was transferred to another owner," Townsend said.

The police Fraud Squad was then called in and an investigation launched.

A police source yesterday told The Gleaner that one person involved in the transaction had already been questioned and the other person should be questioned in a matter of days.

According to the police, an arrest could be made by next week.

Yesterday, the businessman, to whose name the title has been transferred, refused to comment on the matter when he was contacted by The Gleaner.

arthur.hall@gleanerjm.com

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