A MAN from Colwyn Bay who ran a care home scheme which lost investors more than £57million has been banned from being a company director for 14 years.

Robin Forster, 42, of Kings Road, was the director of Qualia Care Properties Ltd and Qualia Care Developments Ltd, which took £57m from investors in an unauthorised investment scheme.

Forster also deprived creditors of more than £2m through inter-connected business transfers in the days prior to his companies entering administration.

Insolvency Service investigations have resulted in him being banned as a company director until 2038.

The High Court had ruled last year that Forster’s investment funds were unlawful..

He was handed the disqualification order at the Manchester District Registry of the High Court on February 5.

The order, which began on February 26, prevents him from becoming involved in the promotion, formation or management of a company, without the permission of the court.

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Mike Smith, chief investigator at the Insolvency Service, said: “Robin Forster was the director of companies which put investor funds at risk through an unauthorised care home investment scheme.

“Forster made false and misleading statements to investors, promising them returns which were never likely to be achievable.

“He also transferred funds to a connected company just days before both Qualia Care Properties Ltd and Qualia Care Developments Ltd went into administration.

“His actions fall well below the standards the Insolvency Service expects of company directors and we are pleased to have secured a disqualification order lasting until February 2038.

Qualia Care Properties Ltd and Qualia Care Developments Ltd offered investments in care homes in the north-east of England between February 2016 and September 2020.

Investors purchased a long-term lease on a room in a care home run by a third company, Qualia Care Ltd, and sub-let the room back to the other Qualia companies.

The High Court also agreed the returns promised to investors of between eight to 10 per cent of the purchase price were never likely to be achievable, and that Forster had made false and misleading statements to investors about the sustainability of the scheme.

Forster also caused Qualia Care Properties Ltd and Qualia Care Developments Ltd to make three transfers totalling more than £2 million to Qualia Care Ltd, in the four days prior to the companies entering administration in September 2020.

Qualia Care Properties Ltd and Qualia Care Developments Ltd were both liquidated in the summer of 2022, while Qualia Care Ltd went into administration in October of that year.