Savers are owed millions after an unregulated investment bond scheme promoted by Kevin McCloud, one of Britain’s best-known property gurus, collapsed. The designer and presenter of Channel 4’s Grand Designs helped to raise £2.3 million from about 280 investors through a mini-bond — essentially an IOU — to raise capital for development projects that he would oversee.
McCloud promised that the scheme would turn “the housebuilding process on its head” to develop beautiful pieces of architecture that offered seclusion, privacy and tranquillity. The homes would have minimal energy and water use and would be built from hemp — a low-carbon, highly insulated material.
Investors were invited to a presentation on February 23, 2017 at the five-star Andaz hotel in London where McCloud explained the
