Ocean View Properties,CRIMINAL case has been launched against the boss of a Midland property firm that went bust owing £43 million to investors

CRIMINAL case has been launched against the boss of a Midland property firm that went bust owing £43 million to investors – including soccer star Gareth Barry.
Colin Thomas, founding director of Ocean View Properties, is being investigated for fraud and misappropriation of funds over a Costa Del Sol holiday home scheme.
His Staffordshire firm marketed properties using images of celebrities including ex-Aston Villa captain Gareth Barry and BBC’s Homes Under The Hammer star Martin Roberts to sell luxury off-plan apartments, though neither benefitted in any way or had any knowledge of irregularities.
It is understood that midfielder Barry, now playing for Manchester City, also invested in the company, although it is unclear how much he put in.
A source close to the England star said: “The investors are all just chasing their money at the moment.
“This has hurt Gareth just as much as anyone else. He is a victim and is in the same boat as all the other investors.
‘‘He won’t speak publicly about it because it’s all still ongoing with lawyers, but it hasn’t been good for him at all.”
In an extraordinary development in the case, the Sunday Mercury has learned that Spanish lawyers are planning to call Prince Albert of Monaco to give evidence as a witness at the trial. They believe he was persuaded to take part in an event linked to Ocean View Properties in Punta Perla, Dominican Republic.
The Dominican Republic President, Leonel Fernández Reyna, is also due to be called as a witness, though neither leader is accused of any wrongdoing.
The Sunday Mercury contacted the Monaco government, but no-one was available for comment.
As well as attracting investment from sportsmen and celebs, Ocean View was a sponsor of major Midland football clubs including Aston Villa, West Bromwich Albion, and Leicester City.
Former Leicester City skipper Matt Elliott is believed to have lost around £70,000 on an Ocean View holiday home.
He is among angry investors taking legal action to recover monies from the property company, which was dissolved in 2009 owing £43 million.
Ocean View was launched in 2001 by Yoxall businessman Colin Thomas.
His friend Sean Woodhall, a convicted conman, searched for development opportunities on the Costa del Sol, while the Staffordshire businessman found potential investors by offering high rental yields and capital returns.
Woodhall, who was linked to several overseas property scams, went missing after his light aircraft crashed while flying over Brazil in 2008.
He was later legally declared dead – despite his body never being recovered.
Mr Thomas was named in a criminal claim lodged in a Madrid court earlier this month.
Around 70 claimants from across Britain, including 15 from Birmingham, are involved in the lawsuit seeking more than £6.5 million in lost investments.
Under Spanish law, that claim forms part of criminal proceedings against the three Midland men.DISCLAIMER:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.