TWO holiday park bosses have been banned from being company directors for six years after investors were left £14million out of pocket.

Brothers James and William were directors of Walsham Chalet Park Limited, which operated eight holiday parks, including in Frinton Road, Thorpe-le-Soken.

They join their father as disqualified directors after £14million of investments were taken for holiday chalets never built or owned.

James Moir, 23, and William Moir, 27, both from Harlow, joined their father Simon Moir as directors of Walsham Chalet Park Limited in 2017.

The holiday parks company ran an investment scheme where people could invest in part or an entire holiday chalet and would receive returns based on the holiday rental income.

Investigations following Walsham Chalet Park’s insolvency in September 2019 found that 161 people had paid Walsham Chalet Park £14.2million to invest in chalets never built.

Thirty of those investors further paid the holiday park company £1.8million to invest in chalets at a site in Gloucestershire that Walsham Chalet Park did not own.

Investigators established that false accounts had also been sent to the company’s bank.

The Secretary of State accepted disqualification undertakings from James and William after they did not dispute they had breached their duties as directors of the company.

The brothers have been banned from acting as directors for six years each which means they cannot, directly or indirectly, become involved, without the permission of the court, in the promotion, formation or management of a company.

The directors’ father, Simon Moir, 58, previously received a 14 year ban in September 2020 for his role in the failed investment scheme.

Sue MacLeod, chief investigator at the Insolvency Service, said: "Millions of pounds were taken from investors for holiday chalets from James and William Moir’s company, despite Walsham Chalet Park not owning one site and the chalets never being built.

"As a result of this financial mismanagement, investors have lost substantial amounts of money and it is only right that these brothers are removed from being company directors for this significant period."