Therapist Loses £28k Inheritance in Property Scam, Targeted as 'Vulnerable'
A wellbeing therapist has been left devastated after losing her entire £28,000 inheritance in a sophisticated property investment scam. Nancy Laats, 63, from Nottingham, was deliberately targeted by fraudsters who identified her as "vulnerable and gullible," according to her own account in a new ITV documentary.
The Alluring Investment Pitch
Ms Laats was searching for an ethical way to invest her parents' inheritance when she encountered the Unique Property Investment Group. The company presented itself as offering opportunities in the assisted living sector, claiming to work with the YMCA on government-backed schemes. She received professionally crafted brochures that made the venture appear entirely legitimate.
"Everything they said to me became believable," Ms Laats told the ITV Tonight documentary 'Rising Scams: What You Need To Know.' "Anybody looking at it would believe that it was a genuine investment."
The promise of a 25% monthly return on her investment particularly appealed to her desire to make her inheritance "work harder for my retirement." The company's focus on social housing and assisted living projects resonated with her values, and she developed what she believed was a genuine friendship with the team.
The Initial Success and Subsequent Collapse
Initially, the investment seemed to be paying off. Ms Laats invested £13,000 in 2023 and received five monthly payments of £275 while maintaining regular contact with the company representatives. One message from the team referenced ambitious plans with YMCA, claiming they had been asked to find "at least 10,000 one beds this year" with contracts spanning "50-plus years."
Encouraged by this apparent success, Ms Laats invested an additional £15,000. However, just over two weeks later, she received devastating news: the company had instructed administrators.
"When I got the email, I think I went into shock," she recalled. "But I was still believing. And trusted that they would sort it out."
The Harsh Reality Revealed
As more details emerged, Ms Laats' concerns grew. The company had claimed to have £10.7 million in assets in October 2024, but the administrators' report painted a very different picture. Despite investors pouring more than £12.5 million into the firm, it owned just two properties worth £315,000.
Although these properties were connected to a genuine housing association, other promised contracts never materialized. The report showed "nil" in all company accounts, with just over £1 million paid in intercompany loans.
Emotional Fallout and Self-Blame
The revelation has taken a severe emotional toll on Ms Laats. "I started to get really anxious in my chest how heartless and hard these people must be," she said. "Taking my money when they knew they had an issue."
She experienced intense self-blame in the aftermath: "I went through a few weeks of calling myself stupid, pathetic. Brainless. And really pulling myself to shreds."
Ms Laats, who believes she has lost all her inheritance money, added: "I have moments where I can't get up in the morning. I still can't believe that these people that got to know me, I think they saw somebody that was vulnerable, gullible. And they didn't care."
Company Response and Denials
Unique Property Investment Group responded to ITV's inquiries with several statements. They claimed that "to the best of the directors understanding at the time, [the independent housing providers they worked with] held public-sector contracts" and their role "was limited to property sourcing and related commercial activity."
The company also stated that "investors were required to complete risk acknowledgements, including sophisticated investor self-certification where applicable." Regarding the intercompany loans, Unique claimed they were "entered into as part of the Company's property and development strategy" and that funds were applied for "commercial and business development purposes."
Unique denied any wrongdoing, attributing their administration to "financial and operational pressures" and stating that "steps were taken to stabilise the company's position where possible."
YMCA Clarifies No Involvement
A YMCA England and Wales spokesperson provided clear clarification to the Daily Mail: "YMCA England & Wales has had no involvement in any proposition claimed by UPIG, has not endorsed UPIG in any form and has not given permission for YMCA's name or brand to be used in connection with any investor materials or communications."
The documentary 'Tonight - Rising Scams: What You Need To Know' aired on ITV1 and remains available on ITVX, highlighting the growing problem of sophisticated financial fraud targeting vulnerable individuals.
