The owner of a Moray caravan park at the centre of a fraud investigation went into administration with debts of £14million, it was revealed last night.
The extent of how far into the red the operator of the Silver Sands site at Lossiemouth had plunged has sparked fresh fears that people left out of pocket may never be able to recover their money.
The spiralling debt forced Leicester-based Green Parcs to call in administrators in June.
Police launched an investigation at Silver Sands in August last year after residents raised concerns about caravan ownership.
About 70 people claimed they had been given handwritten receipts when they bought their holiday homes.
They claimed they had paid thousands of pounds for their vans but discovered later they were not the only owners.
Lossiemouth councillor David Stewart said last night he was “absolutely shocked” to learn that Green Parcs had such substantial debts.
He said: “There are quite a few local businessmen still waiting for payment for work that they carried out at Silver Sands.
“There is little chance that they will get full repayment now, I am sure.
“As for those who tried to buy caravans, there will be little chance of them getting their money back either.”
Green Parcs also owns caravan sites at Forres and Dornoch and all three complexes have been put up for sale by administrators.
Carol Scott claims she bought a caravan at Silver Sands in May last year, only to find later it had been sold previously to someone else.
The mother of two, of Muirton Way, Buckie, said: “I did hear that they were in debt but didn’t realise it was as much as £14million.
“It is a stalemate at the moment as we feel that the administrators do not want anything to do with us.
“I think we are a lost cause, to be honest, but I would like my money back.”
Another woman, who claims she paid £15,000 for a three-bedroom caravan at the site but did not get the keys, said she was not convinced she would ever get her money back.
The Portgordon resident, who did not want to be named, said: “We have been ignored as if £15,000 is nothing.
“The only people who have told us anything are the police and we are just waiting for the case to go to court.”
Three people appeared at Elgin Sheriff Court in March in connection with allegations of fraud and embezzlement at Silver Sands.
Neale Rothera, 35, of 5 Orchard Way, Wymeswold, Leicester, Shona Walters, 40, of 18 Fairfield Avenue, Elgin, and Gholamresa Motakellemi, 41, of 11 Kilbirn Eld, Oakham, Leicester, made no plea and were released on bail.
A Crown Office spokes-woman said a date for their next court appearance had not yet been set.
Green Parcs director Deepak Johar could not be contacted last night.
A spokeswoman for administrator Deloitte said it was taking offers from firms interested in buying the business.
She said: “The level of secured debt is £10.3million and the level of unsecured debt is £3.7million.
“This involves a whole range of creditors such as those who supplied the firm goods, and may include caravan-owners if they were owed money at the time it went into administration.
“We have had a significant level of interest in buying Green Parcs and will be looking at the interested parties over the next few weeks.”