Foreign Property News | Posted by Shwe Zin Win
A billionaire has been forced to sell his mansion after falling into hundreds of millions of pounds in debt and claiming that he was made by bankrupt by a drug cartel.
Entrepreneur Bob Bull, was last year estimated to be worth close to £2 billion when he opened the doors to his mansion to celebrate being number 88 on the UK rich list.
Mr Bull spoke of how he made his fortune by transforming static caravan parks into bungalow villages with his business Royal Life.
After going bankrupt in 2016, to the point where he was 'too poor to afford a KFC', the father-of-two built the business and is thought to have accumulated the huge wealth, including a range of supercars.
But these have now been repossessed and are selling up their mansion near Southampton, Hampshire, up for sale, as the billionaire is reportedly £725 million in debt.
(Robert Bull, who was declared bankrupt last year, and his Norwegian wife Sara)
(The mansion, near Southampton, which boasts of a pool with steam room and spa, gym, games room is up for sale for £6.25 million)
(The mansion even comes with a three lane bowling alley)
The father, originally from Manchester, tried to refinance his business, thought to be worth around £4 billion.
Mr Bull said that, out of desperation, he borrowed £3 million from a millionaire, who turned out to be a member of an organised crime group with rumoured links to The Kinahan Organised Crime Group also known as the Kinahan Cartel.
The money that Mr Bull borrowed was to be paid back within four weeks with an interest of £3 million a month.
This spiralled into the father being told to pay back a whopping £42 million - and Mr Bull claims he was reminded of this through intimidation and kidnap threats.
The Sun reported how he, his family and his staff say they were victims of beatings, kidnap threats and fraud.
(Some of the cars which the couple owned included a Lamborghini Urus and a Bentley)
(The Georgian style property sits on 9.12 acres of gated grounds and includes a garage for six cars)
(A description of the property on Rightmove said: 'On entering you are aware that this is no ordinary home)
(The room which leads to the balcony of the property near Southampton, Hants)
(Rightmove said: 'The property has been thoughtfully designed and offers a luxury and versatile home)
A thug knocked his wife unconscious before stealing the keys to Mr Bull's £450,000 Rolls-Royce.
He hired a team of former Scotland Yard detectives to compile a dossier on his nightmare - which was handed to Hampshire Police.
They concluded that he had been a 'victim of a conspiracy to defraud him, to destroy his £4 billion caravan, bungalow and holiday parks business'.
Ref: Brit billionaire forced to sell six-bed mansion in Hampshire after being 'plunged £725m in debt' and made 'bankrupt by the Kinahan Cartel' (dailymail)
