A PETERSFIELD man is among hundreds of victims of a time share fraudster who are heading for a High Court showdown with the man who conned them.
Martin Smith of Stafford Road has joined people from all over the country to launch High Court claims against fraudster John Palmer for millions of pounds in compensation.
They claim in writs, issued in LondonÕs High Court and just made publicly available, to have lost thousands of pounds after being taken in by Palmer, who has been jailed for eight years for his part in the fraud.
Mr Smith is among the many who are seeking damages for fraudulent and other misrepresentation, deceit, conspiracy and for money taken from them by Palmer, who was jailed after a seven-month trial at the Old Bailey in 2001.
Palmer regularly appears in the lists of the UKÕs richest people, but had assets of £47million frozen after his trial.
When the case is heard, the court will be asked to order, among other things, that accounts connected with the fraud are disclosed to order payment of all money found due to the victims of the fraud, which centred on timeshares in Tenerife.
The writ says that Palmer, helped by various individuals and companies, conspired, deceived, and induced those suing him to agree to buy, or sell, or let or keep timeshares by making false statements.
It is alleged he deceived them over the value of the timeshare, over how quickly a sale could be expected and what reimbursement they could expect if a timeshare was not sold within a certain time.
Palmer also misled them over the status and role of a company called Caldon Ltd, claiming it was a finance company independent of the company selling the timeshare, and that it advanced money to that company on account of the purchase, the writ claims.
The writ also says that he deceived them over the rent which could be expected from the property, the intention of the timeshare sales companies, and over the resale and rental companiesÕ attempt to sell or let timeshares promptly and at the prices quoted, their prospects for doing so, and the dates on which timeshares would be completed and ready for occupation.
Palmer, who has a home at Battlefields, Bath, Somerset, is also accused of failing to account to some of the victims for rent and other income received from letting their timeshares to third parties.
Palmer defended himself at his trial, and the jury took 21 days considering its verdicts before deciding he was guilty.
Years before he had been acquitted of handling gold stolen in the £26m Brinks Matt bullion raid at Heathrow Airport.