A billionaire who claimed that a drug cartel made him bankrupt was forced to sell his mansion after accruing debt totalling hundreds of millions of pounds.
When businessman Bob Bull unlocked his mansion to commemorate ranking 88th on the UK rich list last year, it was estimated that he was worth nearly £2 billion.
Mr. Bull talked about how his company, Royal Life, turned static caravan parks into bungalow villages, which is how he made his fortune.
Following his bankruptcy in 2016, which left him “too poor to afford a KFC,” the father of two went on to build the company and is believed to have amassed a substantial fortune that includes a variety of supercars.
However, because the billionaire is allegedly in debt to the tune of £725 million, these have now been repossessed and they are listing their mansion close to Southampton, Hampshire, for sale.
Mr. Bull claimed that the Kinahan Cartel, a well-known Irish drug gang with ties to lethal South American cartels, was behind this hate campaign.
“These people have taken me to the limits of my life,” he said to The Sun newspaper, and his wife responded, “I’m there for you.” I believe the bankruptcy would have been dismissed if the bankruptcy judge had been aware that I was a victim of criminal activity.
The father, who is originally from Manchester, attempted to refinance his company, which is estimated to be worth £4 billion.
The lender abruptly withdrew at the last minute, causing the £2.8 billion package—the largest real estate deal in Europe—to collapse.
Mr. Bull claimed that in a desperate move, he borrowed £3 million from a millionaire who was actually a member of an organised crime group suspected of having ties to the Kinahan Cartel, also known as the Kinahan Organised Crime Group.
The US Treasury Department imposed sanctions on the Kinahan family in recent years, and authorities likened the organisation to the mafia and Mexican cartels.
Mr. Bull was required to repay the money he borrowed in four weeks, plus interest at the rate of £3 million per month. As a result, the father was ordered to repay an astounding £42 million. Mr. Bull says he was repeatedly reminded of this through threats of kidnapping.
According to The Sun, he, his family, and his employees allege that they were the targets of fraud, beatings, and threats of kidnapping.
After putting his wife to sleep, a rascal took the keys to Mr. Bull’s £450,000 Rolls-Royce.
He hired a group of ex-detectives from Scotland Yard to put together a dossier about his nightmare, which he then gave to Hampshire Police.
They came to the conclusion that he was the “victim of a conspiracy to defraud him, to destroy his £4 billion business that consisted of holiday parks, caravans, and bungalows.”
“This group is feared because of its use of extreme violence, including murder, against rivals,” the documents continue. In Mr. Bull’s case, they wasted no time in making their own threats of violence and kidnapping in addition to using the Irish cartel’s threat of violence to enforce unreasonable demands.
Court documents from December revealed Mr. Bull’s intention to reach a settlement whereby he would only have to pay back 0.25 percent of his debts.
“While it may not be a substantial payout to the creditors, it still represents a return,” stated Ben Channer, an attorney representing Mr. Bull.
The home that Mr. Bull and his then-fiance Sara Nilsen shared, complete with a bowling alley and a collection of twelve supercars valued at £4 million, is currently listed for more than £6 million.
According to the listing, the house on Botley Road in Curdridge, Hampshire, has eight bathrooms, six bedrooms, including a suite.
The 9.12-acre gated property, designed in the Georgian style, has a six-car garage.
Among its amenities are a three-lane bowling alley, a games room with a cinema for eight people, a steam room, a spa, and a swimming pool.
According to a listing on the real estate website Rightmove, “The property has been thoughtfully designed and offers a luxury and versatile home, suited for entertaining on a grand scale and family living alike.
Upon arrival, it becomes evident that this is no typical residence; the spacious reception area features a central staircase that leads to both the first and second floors.
The large gardens are visible from the reception areas that are all located towards the back of the property.
This space comprises three reception rooms and an amazing open-concept family, kitchen and breakfast area. It is approximately 3,510 square feet in size and features a wine wall, a Clive Christian kitchen with a large island unit and breakfast bar and a wide selection of Miele appliances.
The next month, a court declared him bankrupt on the grounds that he owed £7.25 billion.
He told the newspaper that he was furious and that he was fighting back to reverse the bankruptcy and obtain more than £1 billion in funding to help the company regain its footing.
“I’m done,” he declared, “if I don’t appeal the bankruptcy.”
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