Draining away: Thousands of people are thought to have lost more than £1billion in unlawful property schemes in recent years
When Graham Firth saw an advert for an 8 per cent return on an investment instudent digs, he thought he had found a great deal.
More people were going to university than ever before and he was told the Paramount development in Liverpool was not only finished, but occupied.
However, after the 54-year-old finance director invested £58,500, it emerged that the building was far from complete and his money vanished.
Graham is one of thousands of people thought to have lost more than £1billion in unlawful property schemes in recent years, according to legal experts at UCIS Advice Point.