Some 200 investors who paid out an estimated £19million in a suspected fraud fear they may never get their money back.
Victims handed their ‘hard-earned savings’ over to holiday lodge schemes marketed by two estate agents.
They were offered lodges in the Dumfries and Galloway region of Scotland at two sites called Landal Barnsoul and Landal Barncrosh, with investors believing Landal was referring to the well-known European holiday operator Landal Greenparks.
But the company behind the suspected scam was called Apple Invest – which, according to those acting for the aggrieved investors, had not obtained planning permission for one of the sites, and had no affiliation with the Landal name.
The investors are blaming Andrew Anderson, director of Apple Invest, for their predicament.
The alleged fraud came to light as investors were eventually told by administrators they owned nothing. Further to this, it is alleged that after the company went into administration it continued selling lodges, contrary to a court injunction issued six months prior.
Affiliated companies accused of complicity have distanced themselves from Apple Invest.
Police, operating under Operation Banstead, have confirmed two men, both in their 40s, have been arrested – one in Cheshire and one in Essex.
While is is believed Apple Invest Ltd has no remaining funds, large sums have allegedly been transferred to companies.
Belvedere Leisure Resorts was working together with Apple Invest before the two directors allegedly fell out – though the existence of a joint venture has been denied.
With agents that sold the scheme – Advantage Investment and Knight Knox – also denying responsibility and banks refusing to accept any wrongdoing for allowing the transfer of money, the chances of the suspected fraud victims receiving any compensation have been branded slim.
Victims also say due to the complexity of the case and number of agents involved the hefty legal costs mean no one may be held accountable.
Pensioners and NHS workers have spoken out to discuss the impact the loss of money has had on their lives – with many saying they now suffer from depression and others feeling like they have ‘failed’ their family.
Dave Lindon, who was recovering from a prostate cancer operation when he invested with Advantage Investment Limited in July 2021, said the experience had left him ‘very upset’.
He explained: ‘I was contacted by Advantage Investment Limited in July 2021 after seeing an advert on rightmove.co.uk to buy a luxury holiday lodge at Landal Barnsoul. At the time I was recovering from a prostate cancer operation.
‘I lost £90,000 which was a large element of my pension savings.
‘This experience has left me feeling very upset and I no longer trust anything or anyone when it comes to finance.
‘I know several other people have lost significantly more than me and I am sure we all feel rather helpless.
‘It seems obvious that several companies are involved in this scam but as yet the police haven’t confirmed and banks are playing hardball. At least £10million has gone missing with total fraud circa £19million.’
Janet Penny, a 75-year-old who works in dentistry said she had now ‘lost all my pension savings’ after undertaking her second lodge investment.
She explained: ‘I have to continue to work and have honestly become very ill.’
Yasemin Iscan said she had met an estate agent in the year 2023 which was the ‘worst decision of my life’.
She said: ‘I was 33, naive and I even told them that this was my first ever investment and property purchase.
‘I invested £75,000 cash into this scam.
‘When I found out I lost all my life savings, I was hospitalised and had temporary amnesia due to all the pain and trauma this has caused me.
‘I have so much shame around my idiocy that I will never be able to trust anyone ever again.’
Jacquie Robinson, who also invested £85,000 in a holiday lodge in the Dumfries and Galloway site in October 2022, said she initially received the payments through to her account which allowed her to ‘semi-retire’.
But all of a sudden the money ‘stopped’ and Ms Robinson has said she is working full time again, living on her ’employer’s carpark in her camper van for five days a week’.
Steven, from Hertfordshire, added he purchased three lodges worth £234,000 in 2023 through Advantage Investment.
He explained: ‘The steady income was meant to help with my rent and car payments on top on my full time job.
‘I’ve lost my house and everything I own.
‘I’m now living with my partner unable to help with rent trying to pay off all my debts.
‘My mental health has suffered a lot with self harm and running away from home and everything since. Each day, week, month I’m anxious just trying to make sure I can get by.
‘This investment has completely ruined my life.’
While around 90 per cent of people who have lost their cash to the scheme are British, some international investors have also been affected.
Dhary Al Thamer, who invested £95k with Advantage Investment and ‘convinced’ his father to invest £400k, said he could ‘no longer look him in the eye’.
He explained: ‘This experience without a doubt changed my life. As a non-UK resident, you always think the UK is a safe country where there would be laws to protect you from scammers.
‘I haven’t been the same since then, I can’t look my father in the eye. I failed him and our family.’
Chan, from Hong Kong, added: ‘I bought a lodge and lost £85k in 2023.
‘I am far away and have no protection in the UK. I have no money to support my family’s medical bills and kid’s education anymore.’
Refundee – a claims management company – is currently seeking compensation for investors who have lost money on the grounds it is a suspected APP (Authorised Push Payment) scam and the alleged money laundering should have been picked up by the banking system.
Thus far, banks have denied any responsibility, and the case is now with the Financial Ombudsman.
An Advantage Investment spokesman said: ‘Advantage Investment is aware of the criminal Police investigation into this and have assisted with the enquiry. We have also assisted all investors to the best of our ability and will continue to do so. Unfortunately, due to the ongoing investigation we cannot comment on the matter any further.’
A Knight Knox spokesman said: ‘Knight Knox is aware of the police investigation into Apple Invest and has assisted with that enquiry. Unfortunately, due to the ongoing Police investigation, we cannot comment on the matter any further.’
Andrew Anderson has been contacted for comment.