Some investors suspect a scam as Castlewood Group's Dream project in Phuket goes sour

Dream Phuket Hotel & Spa, Castlewood Group's key project. Investors said they were informed last month that Castlewood was winding up and that they had to attend a meeting to appoint a liquidator.
Dream Phuket Hotel & Spa, Castlewood Group's key project. Investors said they were informed last month that Castlewood was winding up and that they had to attend a meeting to appoint a liquidator.PHOTO: DREAM PHUKET HOTEL & SPA/FACEBOOK
Published
Dec 17, 2019, 6:23 pm SGT
Updated
Dec 18, 2019, 10:17 am
awcw@sph.com.sg

SINGAPORE - A Phuket hotel resort project by a Singapore-based property developer that drew over $90 million of funds has gone sour, with some retail investors going as far as to lodge a police report after the company suddenly went into liquidation. 

Some investors of the failed developer, Castlewood Group, now suspect that they may have fallen prey to a scam.

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