Many people will have read about the £3 million Cyprus property scam in Paphos involving J&I Estates, and their sole agent in Cyprus Peter Stephenson Properties.
Ian Beaumont, the director, of J&I Estates was locked away for a £450,000 fraud in Kuwait. His “partner in crime”, Andrew Nolan of Peter Stephenson properties has twice been banned from serving as a company director in the UK. On the second occasion, the judge branded Nolan a “complete fraudster” after his insurance company One Call Insure Direct went bust with debts of £2.3m.
On Thursday 3rd April, in its series “Holiday Homes from Hell”, ITV screened a 7 minute item about the scam, including interviews with a number of those who have been conned.
[youtube=http://www.youtube.com/watch?v=nPwfOuytaeU&w=470&rel=0]
