Timeshare owners who invested in a resort which is currently the subject of a fraud investigation are considering taking their own legal action.
Earlier this week it was revealed that North Wales Police are investigating the affairs of the Dyserth Falls Resort , formerly known as Graig Park Hotel.
It follows complaints from many of the investors in the 32 timeshare lodges on the site,which closed temporarily in January, 2015 , but then reopened.
They claim they were victims of “fractional ownership” when the company failed to honour an agreement to take over their contracts on other timeshares in return for moving to Dyserth Falls.
That left them having to pay for two properties.
They believe that the total losses incurred by investors could be over £7m.
An action group was set up last year and the matter was referred to the Serious Fraud Office and National Crime Agency.
Group spokesman Malcolm Pitt said: “We are still plodding on, frustrated by the lack of action by the authorities and also not being able to find the remaining 700 families sold fractional ownership at Dyserth Falls.”
He said they had failed to reach agreement with any of the parties they feel were responsible for their losses and were now considering legal action.
He said they would persevere even though laws such as the Data Protection Act prevented them from obtaining details of all those who had lost money.
“We feel that we who have suffered losses in excess of £7m are just left out in the field with the grass dying under us,” he said.
Dyserth Falls Resort have been asked to comment.
see-http://www.dailypost.co.uk/news/north-wales-news/dyserth-falls-investor-losses-may-11822804
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