THE property business of a self-proclaimed Liverpool millionaire is under investigation for fraud after the company went into liquid-ation owing debts of £2.3m.

Property mogul Ken Metcalf is being investigated by Merseyside Police following complaints about his com-pany, Tailormade Overseas Property Solutions Ltd (TMOPS).

Angry investors from around the world gathered at a creditors’ meeting after TMOPS was voluntarily wound up.

Metcalf, who lives with his family in a £1m Chester house bought in his wife’s maiden name in March this year, is chairman and chief executive of TMOPS.

Based in the city’s Union Court, it sold development and real estate, including lux-ury apartments in Italy and Spain, but now owes money to 45 people and businesses.

Metcalf told the Daily Post he was unable to comment on the allegations while legal proceedings were taking place.

Staff of the company are owed £3,000 in redundancy and pay in lieu of notice.

Oliver Stanley, who gave Metcalf £400,000 last year for the refurbishment of 12 terraced properties in Halifax, said people would lose their homes now the money has gone.

He said: “Where has the money gone? Metcalf surrounded himself with credible people and gave personal guarantees.

“This is big, there are more people affected than have come forward so far. People are going to lose their homes.”

Metcalf has included two of his other property companies, Tailormade Elite, run with his wife Nicola, and Tailormade Investment Villages Ltd in the list of creditors, claiming £1.57m.