3 people have been arrested by the Serious Fraud Office as part of a new investigation in the Carelauren Group and an alleged £76million fraud involving luxury care homes. The raids in Dorset and Buckinghamshire are part of an investigation into the UK registered property developer, the Carlauren Group, which collapsed into administration in November 2019, requiring some elderly residents to vacate their homes and leaving over 600 investors out of pocket. Over 4 years, the Carlauren Group purchased 23 properties across the UK – including Ocean Hotel in Sandown and Auckland Hotel in Shanklin, both of which have since been sold on – offering an annual 10% return on investment in its renovation of these properties into high-end care homes. Only 9 of the properties were ever operational and some continued to be run as hotels, instead of homes. The group also purchased a number of vehicles purportedly for the company including 2 Lamborghinis, a Mclaren 570GT, a private jet and 2 yachts. Auckland Hotel was 1 of those properties that continued as a hotel after being purchased by the Carlauren Group in 2017 under the banner of The Care Home Group. When the company collapsed in 2019, 20 staff found themselves redundant just weeks before Christmas. Overall, more than 600 people and companies invested in the scheme via purchase of rooms, that were to be rented out to elderly residents, in facilities that boasted of swimming pools, room service and other luxury amenities. Rooms were advertised widely and sold with a guaranteed annual payout and the opportunity to resell the asset back with up to a 25% profit after 10 years. Today’s operation was supported by the National Crime Agency (NCA). Nick Ephgrave QPM, Director of the Serious Fraud Office, has said:
“This company’s abrupt collapse has created turmoil and enormous anxiety for many, with elderly people forced to vacate their homes and investors left with nothing. “Today’s arrests are a major development in our investigation and a step towards getting the answers so many people need”.
Take investors money, and then spend it on jets and hypercars, classic, almost as genius as turning 5 days work into 5 weeks using bs papertrails and charging daily.
Just another day in Tory Britain.
obtaining money by deception and spending it on a lavish personal lifestyle is nothing new, is as old as the hills and has nothing to do with the tories
Well not all off them anyway.
Incorrect, Auckland Hotel was a filthy rundown hovel with an appalling reputation (check Tripadvisor) it was closed prior to the sale and renovations so I can’t see anyone lost their job.
It looked much improved when they went bust and presumably now sold.
GET YOUR FACTS RIGHT 20 HARD WORKING STAFF LOST THERE JOBS JUST A WEEK BEFORE XMAS
AND THE HOTEL HAD 100% FEEDBACK IT WAS IN EXCELLENT CONDITION AND I WAS A REGULAR CUSTOMER SO I KNOW THE HOTEL VERY WELL
Not very low key fraud, super cars, yachts, and private jets, nice to see the money was not wasted. Lifetime ban on driving or owning a car after their 20 years in prison. I will be interested to learn the fraudsters nationality. I know we have our own low life thieves but I do hate it when we get extra from abroad.