A British businessman has allegedly lost hundreds of thousands of pounds in a property scam on a Thai island.

David Edward, 70, said he was cold-called by a real estate agent in 2016 who offered to sell him the apartment unit in the Chaweng Noi district of Koh Samui.

The businessman said he paid the agent a deposit of five million baht (115,300 GBP) and the rest of the money was to be paid upon completion of the sale -a total of 15 million Baht (346,000 GBP).

However, David said the agency has still failed to transfer the title deeds or legal documents and he has been unable to get his money back.

David has filed a complaint with the police and the Central Investigation Bureau in Bangkok but no arrests have yet been made.

He said: 'I'm concerned about my property and other people's properties as well. I bought property in Thailand when I was in Saudi Arabia a long time ago and I'd like to retire in Thailand but I have two young children now and I have to do what's best for them.'

David claimed that the property agency misled him about the status of the apartment block project on the idyllic island, which is a popular destination for tourists.

The company reportedly told him that the property was ready for transfer, but the Brit learned this April 19 that the complex did not actually have a building permit.

David claimed to have found evidence that the company had defrauded other clients, and had even sold or mortgaged plots without their consent.

David's lawyer, Phattakorn Teepaboonrat, said that at least five other victims, mostly foreigners unfamiliar with Thai laws, had been allegedly scammed by the company, with damages amounting to more than 100 million baht (2.3 million GBP).

The agency is said to have lured them with promises of tax exemptions before forging the title deeds.

Phattakorn said: 'This company offered real estate projects for sale on its website, including certificates of ownership and project pictures, to establish trustworthiness. My client purchased two rooms for 15 million baht, and although he has already moved in, there has been no transfer of ownership.

'Legally he does not own them so cannot ever rent them or sell them and could be removed at any point.'