Holiday homes bosses accused of huge swindle

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By FERGAL MACERLEAN

Last updated at 10:37 PM on 4th June 2011

The founder and top executives behind former holiday home giant MRI face legal action in Spain after hundreds of Britons allegedly lost money estimated to amount to £13million.
Dubliner Darragh MacAnthony, who owns Peterborough Football Club, which has just won promotion to the Championship, set up MacAnthony Realty International (MRI) in Marbella as the Millennium began.
Hugely popular on the British market, MRI boasted a £100 million annual turnover before the credit crunch. As well as property development in Spain, MRI marketed villas and apartments in Morocco, Bulgaria and Cape Verde, where the company also arranged furniture supplies.

But now MacAnthony, 35, and his former joint chief executives, Michael Liggan and Dominic Pickering, have been accused of ‘theft by swindle and misappropriation of funds’ in a claim filed in Madrid by 60 British and Irish claimants who say they lost more than half a million pounds in undelivered furniture five years ago.
Lawyer Antonio Flores of Marbella- based property solicitors Lawbird, accused MacAnthony of failing in an obligation to file for insolvency for his Spanish companies.

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