Troubled Bulgarian resort investors given ultimatum over money

IRISH investors in a troubled Bulgarian resort scheme have been told they must pay thousands of euro more before the end of the month or wait two years for their money back.

Letters are being sent out to hundreds of Irish people who paid €20,000-€50,000 to secure apartments in what was supposed to be a five-star golf resort in Pomorie on the Black Sea coast.

The builders walked off the site earlier this year after complaining they had not been paid. Tough questions were asked about the track record of the Dutch developer, who then admitted he did not have the money to complete the scheme.