An article in the Daily Mail
reveals a reversal in fortunes as a speculator's overseas venture ruined him
After his UK property business fell flat due to the slump in prices this guy took out a loan of £3.3 million against his mansion to invest in the property market in Romania so that his children could continue to board at their public schools. The enterprise was a con and he now faces the prospect of losing his Devon manor house and he and his family being left homeless.
His nightmare is compounded because not only does he not work but he refuses to let his children attend nearby state schools so they are hometaught by his wife which means she can't enter the labour market. One of the daughters who was originally down for 12 GCSEs is now only taking 5 (about half as many than she would at her nearest comprehensive school).
The whole situation would be laughable if there weren't young people whose futures are on hold.
A fool and his money...