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The Severe Fraud Workplace as we speak raided two websites and made three arrests within the south of England as a part of a brand new investigation into an alleged £76m luxurious care houses fraud.
The raids in St Leonard’s, Dorset and Aylesbury, Buckinghamshire had been a part of an investigation into the UK registered property developer, the Carlauren Group.
The enterprise collapsed into administration in November 2019, forcing some aged residents to vacate their houses and leaving greater than 600 traders out of pocket.
Over 4 years, the Carlauren Group purchased 23 properties throughout the UK, largely former motels, together with the historic Windlestone Corridor in Durham, which was the birthplace of former Prime Minister Anthony Eden. The group provided an annual 10% return on funding in its renovation of those properties into high-end care houses.
Solely 9 of the properties had been ever operational and a few continued to be run as motels, as an alternative of houses. The group additionally purchased various autos purportedly for the corporate together with two Lamborghinis, a Mclaren 570GT, a personal jet and two yachts.
Greater than 600 individuals and firms invested within the scheme by way of buy of rooms that had been to be rented out to aged residents, in amenities that boasted of swimming swimming pools, room service and different luxurious facilities.
Rooms had been marketed extensively and offered with a assured annual payout and the chance to resell the asset again with as much as a 25% revenue after 10 years.
The operation was supported by the Nationwide Crime Company.
Nick Ephgrave, director of the Severe Fraud Workplace, mentioned: “This firm’s abrupt collapse has created turmoil and massive nervousness for a lot of, with aged individuals pressured to vacate their houses and traders left with nothing.
“As we speak’s arrests are a significant growth in our investigation and a step in direction of getting the solutions so many individuals want.”
In response to Corporations Home information, the corporate was included in September 2014 and was beforehand referred to as Propgap Ltd till August 20125, and Company Land Options Ltd till February 2018.
The agency’s founder Sean Murray was described as a “Walter Mitty” character in a report of the agency’s collapse in The Normal newspaper.
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