The investors’ dream was to own holiday apartments in a quiet corner of Bulgaria, and the company which promised to fulfil those dreams was based in Mumbles.
The owners of the company are local businessman Nigel Hole and former Swansea and Wales international rugby player Andy Moore – Andy Moore is the former second-row forward for Swansea and Wales, not Andy Moore, the former scrum half who played for Cardiff and Wales.
But, after investing in property sold by Britannia Overseas Property, many of the customers have nothing to show for their investment and are now demanding answers.
Taro Naw spokn to dozens of customers, who have invested a total of nearly half a million pounds in property marketed and sold by Britannia Overseas Property in Bulgaria. Over two years later, they are still waiting for the apartments to be completed.
One customer who invested with Britannia Overseas Property in the Woodlands Spring development, in the town of Bansko in Bulgaria, is Rob Morgan, from Swansea. Together with his brother and a friend, they invested £45,000. But, two years after paying the money, they’ve yet to take possession of their completed apartment.
Speaking to Taro Naw, Rob Morgan said: "My message is that it’s time for them to take responsibility for what’s happened instead of putting the blame on other parties. It’s their fault and I want them to stand up to their responsibility because we invested with Britannia and it’s up to them to make sure that we get something back from the money we put in."
Katrina Williams, from Caerphilly, invested £25,000 in the Woodlands Spring development.
"Looking back at things now, we’re really disappointed with Britannia – we had faith in the company, a Welsh company, a company for the people of Wales, and now we’re very disappointed."
Taro Naw attempted to contact Nigel Hole and Andy Moore on several occasions but they did not reply to complaints raised by customers of Britannia Overseas Property.
In a written statement to the programme, Andy Moore said that the Woodlands Spring development was the sole responsibility of Nigel Hole, and that he had no involvement in the development of Woodlands Spring. He added that the responsibility of Britannia Overseas Property was in marketing, selling and advertising the properties.
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