A leading Spanish Property lawyer is defending almost a hundred Northern Ireland families in a property scam worth six million euros. The bogus scheme dates back to 2005/2006 and relates to a number of off-plan apartments at the Estepona Beach and Country Club in Spain.
6 million euros swindled from investors in scam
The families from Northern Ireland invested a total of six million euros in 350 apartments supposedly planned for the Estepona Beach and Country Club in Spain. The project was managed by Ocean View Properties, a British based developer who collected the deposits for the properties in 2005/6.
Each of the investors put down a deposit of between 60,000 and 100,000 euros after they were told that the scheme had enormous investment potential thanks to Disneyland’s plans to relocate from Paris to Estepona. While Disneyland has purchased land in Estepona, the company has never announced any plans for the area.
The plan never came to fruition and neither did the planned Estepona Beach and Country Club. The investors all lost their deposits and the contracts they had to sign and return to Ocean View Properties were never countersigned by the developer.
Overseas property lawyer taking on class action
The families involved in the scam have now launched a class action against Ocean View Properties and its Spanish partner Sun Golf Desarrollos Inmobiliarios, which was in charge of marketing.
Spanish property lawyer Antonio Flores who is representing the families also claims that the lawyers who were recommended to Ocean View’s clients were complicit in the property fraud.
Some of the families involved also invested in other Ocean View off-plan developments in Morocco and the Dominican Republic, neither of which ever came to fruition.
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