Victor Bassey promised to buy property at Cornsay

Shane Gould took Stowhouse Farm, in Cornsay, County Durham, off the market when the Nigerian businessman promised to buy it.

However, the deal collapsed after Mr Bassey handed over a £175,000 deposit for the farm, which was twice returned by the bank.

Mr Bassey viewed the 50- acre farm last summer and agreed to pay £1.45m.

He visited the farm several times over the next three months, often bringing his future wife with him, as well as architects and builders.

On one occasion he even borrowed Mr Gould’s Range Rover to view fields and got it stuck in mud.

But as the completion date approached, Mr Bassey disappeared.

Mr Gould traced Mr Bassey to his then home in Grange Road, Middlesbrough.

The airline boss handed over a deposit – a cheque from one of Mr Bassey’s former companies, Excelsis Travel.

He also produced a letter from a US bank that suggested he was a millionaire.

However, Mr Gould said the cheque was later cancelled.

He said: “He messed us about from start to finish. We had several interested parties, but because he was so sure, we took it off the market.”

Mr Gould and his former wife eventually accepted a bid far lower than Mr Bassey – and other buyers – had offered.

He said: “He would come up to the farm and walk about like he was some kind of country gentleman. He told my former wife he would buy some of the horses, the hay, the straw.

“He even asked to keep the staff on, saying he would reimburse me, but of course he never did. It was lie upon lie upon lie.”

Mr Bassey was arrested by Cleveland Police’s fraud investigation team last month after concerns were raised by former employees of his company, Excelsis Airways, which aimed to re-establish air links between Durham Tees Valley Airport and London.

He has been released on bail pending inquiries.

The Northern Echo has uncovered a trail of debts and broken promises left by the businessman across the North-East.

Mr Bassey’s mobile phone rang unanswered last night.