Case studies

Advance fee fraud leaves Bulgarian holiday homes unbuilt

We have advised clients in relation to the recovery of substantial damages for money lost in another off-plan holiday home fraud.

On this occasion, our clients owned the land in Bulgaria and sought to acquire multi-million pound funding to build the homes. They were falsely promised that funding could be arranged by the fraudsters and were persuaded to part with significant advance fees.

The civil claim was preceded by a successful prosecution of six defendants over two trials in a £4 million commercial loans advance fee fraud between 2006 and 2009 operating through an apparently respectable company. The individuals behind the scam falsely promoted the company  as a long-established, wealthy and prestigious financial organisation capable of lending hundreds of millions of pounds as venture capital. As a result, our clients were persuaded to part with substantial sums as the key to unlock the finance needed to build the holiday homes in Bulgaria.

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Penningtons Manches Cooper LLP

Penningtons Manches Cooper LLP is a limited liability partnership registered in England and Wales with registered number OC311575 and is authorised and regulated by the Solicitors Regulation Authority.

Penningtons Manches Cooper LLP