Burton News & Staffordshire Newspaper | Burton On Trent Local Newspaper Headlines | Daily Mail | Property fraud probe launched

Burton News & Staffordshire Newspaper | Burton On Trent Local Newspaper Headlines | Daily Mail | Property fraud probe launched

A BUSINESSMAN is at the centre of a Government and police investigation into a suspected £43 million overseas property scam, the Mail can reveal.

Colin Thomas of Town Hill, Yoxall, is currently being investigated by Staffordshire Police and is also facing legal action from the Insolvency Service following the collapse of his company Ocean View Properties.

A spokesman for Staffordshire Police said: “Following the collapse and liquidation of Ocean View Properties International Ltd, Staffordshire Police is in receipt of a number of complaints alleging fraud against the company.

“Staffordshire Police and the City of London Police are continuing to liaise with the Official Receiver, who has a duty to report any matters of criminal conduct uncovered during its investigation.

“Following an Ocean View Properties International Ltd creditors meeting, Grant Thornton UK LLP were appointed as liquidators, and they continue to concentrate on identifying and recovering, where able, the assets of the company on behalf of the creditors.

“A file was submitted by Staffordshire Police to the Serious Fraud Office for its consideration. The SFO has subsequently decided not to carry out an investigation and Staffordshire Police is currently considering the most appropriate way forward.”