An S4C current affairs programme tonight investigates the mystery surrounding the disappearance of several million pounds of investors’ money in Spain, following claims they may have been duped into investing funds with a businessman from Anglesey.
‘Y Byd Ar Bedwar’ has been to Spain to speak with some of those who claim they have lost hundreds of thousands of pounds after Rhys Williams, the son of a retired GP from Llangristiolus, persuaded them to invest money with him.
36-year-old Mr Williams, a former owner of a Llanfairpwll care home, who has been a Plaid Cymru candidate in an election for Anglesey County Council, moved to Marbella with his family in 2014.
After making connections with people who had moved to Spain from the UK, it’s claimed he guaranteed generous returns if they invested in a business venture in Dubai- a paper recycling plant.
Among those persuaded to invest was Adrian Parsons, originally from the West Midlands.
Mr Parsons remembers how he was flown to Dubai on a trip he says was paid for by Mr Williams, and shown around the recycling factory.
Consequently, he decided to invest £300,000 - £200,000 of his own money and £100,000 on behalf of his elderly parents.
But soon the money dried up and Mr Parsons says he hasn’t received any other payments since. He estimates between seven and eight million pounds in investors’ money has disappeared in total.
He says he’s spent the last two years trying to find out where that money has gone, and believes he and other investors may be the victims of a financial fraud.
In June he contacted the Guardia Civil - the Spanish police - and asked them to investigate the matter.
At the end of June, Rhys Williams and his family left Spain and returned to Anglesey.
‘Y Byd Ar Bedwar’ wanted to give Rhys Williams an opportunity to respond to the investors’ concerns.
Initially the businessman agreed to be interviewed, but then declined, providing a short statement saying he “totally, utterly rejected all the allegations” against him.
A few days ago, the programme reporter, Gwyn Loader, went to Anglesey to try and give Mr Williams one more chance to shed light on the mystery, but he again declined to answer the journalist’s questions.
In the meantime, it is understood the police investigation in Spain is ongoing.
Y Byd ar Bedwar is broadcast tonight at 9.30pm on S4C.
English language subtitles are available.