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Council lost £1.8m after trading of £1.9m loan for almost ‘valueless’ Bluestone shares

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PEMBROKESHIRE politicians have slammed a council leadership bid in the wake of revelations that the previous administration lost £1.8m by exchanging a £1.9m loan in the Bluestone holiday village for shares.

At the full council meeting of Pembrokeshire County Council on May 11, members heard the secured £1.9m loan investment in Bluestone was exchanged for shares which – at best – have been valued at £70,000.

Cabinet member for finance, Alec Cormack told members at the May 11 meeting that the very best annual dividend received on the shares was £5,250, meaning it would take 340 years to recoup the apparently written-off loans.

The behind-closed-doors decision, made by the previous council administration’s Cabinet in 2009, also included the removal of a previous agreement securing public access to the Blue Lagoon water park, then known as Waterworld.

The issue was raised at the May meeting by Councillor Alan Dennison, a new member of the council’s Independent Political Group (IPG), which also happened to be the previous administration.

In a submitted question, he asked full council: “Given the council’s previous investment in Bluestone of a 1.9 million secured loan, now converted into shares, can the Cabinet Member advise what return on investment per annum has been received over the last five years in share dividends or any other form of income?”

Members heard that amounted to just £19,000 in five years.

The £110m Bluestone eco-resort, near Narberth, opened in August 2008.

Early on, the county council invested two loans, adding to a total approaching £1.9m, the lion’s share in respect of Waterworld – now called the Blue Lagoon – with the key justification being there would be year-round public access for the public.

In 2009, it was reported that the county council took up an equity share option in the company behind the Bluestone holiday village, exchanging its loans for them.

Cllr Cormack answered Cllr Dennison’s question at the May 11 meeting, saying the original £1.9m investment was secured with a legal charge on land at the land registry, but was later exchanged for shares with no guarantee and the loss of the public’s right to access the-then Waterworld.

It was in 2009 that the confidential behind-closed-doors decisions were made, removing the loans and the guarantees, members heard.

“The council’s lost £1.8m of the £1.9m – roughly 95 per cent – of the IPPG investment and the public’s lost the guaranteed right to use the Bluestone pool,” said Cllr Cormack.

“At this rate, if we took that maximum dividend amount of £5,250, the council would get its money back in roughly 340 years.”

Speaking after the meeting, a spokesperson for the Pembrokeshire Labour Group praised Cllr Cormack’s role in bringing the information to the public domain.

“Cllr Cormack’s revelations about what had been agreed by the IPG administration are astonishing. There is simply no justification, whatsoever, for the decision by the Independent Political Group (IPG) cabinet leader of the time [Cllr Jamie Adams] to convert the loan into shares.

“Not only do they contain no justification for the decision; it’s clear the IPG swopped a secure loan for shares without any consideration of the consequences. They traded the people of Pembrokeshire’s access to the blue lagoon and £1.8m of taxpayers’ money for shares worth less than £70,000.

“Not only were they worth just £70,000, they’re also non-voting shares meaning this shoddy deal failed to secure this authority any influence over the company – it absolutely beggars belief.”

Referring to a forthcoming vote of no confidence in Council Leader David Simpson, in favour of IPG group member Huw Murphy, the spokesperson added: “This is the same Independent Political Group who are now desperate to run the council again and they’ll need the backing of the Tories to do it. The question must be, what secret deal have they cut to short-change the people of Pembrokeshire again?”

Councillor Jamie Adams, leader of the IPG group, has been contacted to comment.

 

Crime

Man charged with attempted murder after Carmarthen park incident

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57-year-old due in court following alleged knife and stalking offences

A MAN has been charged with attempted murder following a serious incident in Carmarthen town centre last week.

Dyfed-Powys Police confirmed that James McKenna, aged 57, from Carmarthen, has been charged with attempted murder, possession of a bladed article in a public place, and stalking.

The charges relate to an incident in Carmarthen Park on Thursday (Jan 29), which prompted a significant emergency services response and caused concern among residents.

Police have not yet released full details of the circumstances, but officers were seen in and around the park area for several hours following the incident while enquiries were carried out.

McKenna is due to appear before Llanelli Magistrates Court on Thursday (Feb 5).

The Herald understands the case involves allegations of both violence and targeted behaviour towards an individual, with stalking listed among the charges.

Public concern

Carmarthen Park is a popular and busy public space used daily by families, dog walkers and joggers, and incidents of this severity are rare.

The news has prompted concern locally, particularly as the alleged offences include possession of a knife in a public place.

Residents have previously raised questions about safety in parks and open spaces across west Wales, especially during darker winter evenings.

Court proceedings

At this stage, the charges remain allegations and the case will now proceed through the courts.

Magistrates will decide whether the case is sent to Crown Court due to the seriousness of the attempted murder charge.

Further details are expected to emerge during Thursday’s hearing.

The Herald will be attending court and will provide updates as they become available.

 

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Crime

Sex offender jailed after living off grid in Pembrokeshire and refusing to register

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Man walked into police station after months avoiding authorities

A CONVICTED sex offender who told police he intended to live “off grid” rather than comply with legal monitoring rules has been jailed after handing himself in at a Pembrokeshire police station.

Christopher Spelman, aged 66, of no fixed address, appeared for sentence at Swansea Crown Court after admitting breaching the notification requirements of the sex offenders register.

The court heard Spelman was released from prison in Dorset on July 4 last year but immediately refused to provide police with an address, despite being legally required to do so within three days.

Instead, he indicated he planned to buy a tent and live outdoors.

Prosecutor Brian Simpson said officers subsequently launched a nationwide search when Spelman failed to make contact with police. Public appeals were issued and his case featured on the television programme Crimewatch.

Detectives believed he had been travelling around the UK using public transport and staying at campsites. He was known to have links to several areas including Merseyside, Manchester, Devon, Cornwall and Hampshire.

His whereabouts remained unknown until January 3 this year, when he walked into Haverfordwest police station and was arrested. It is unclear how long he had been in Pembrokeshire.

Spelman previously served seven years in prison after being convicted in 2014 of 12 counts of sexually assaulting a girl under the age of 14. He was placed on the sex offenders register for life.

The court heard this was not the first time he had failed to comply with the rules. After an earlier release in 2016, he again failed to register his address and avoided police for around five years before being caught.

He has 11 previous convictions for 29 offences.

Defence barrister Andrew Evans described the case as unusual and said his client had long disputed his original conviction and had expressed a wish to live “outside society”.

However, he said Spelman had gradually accepted that he remained subject to court orders and now wanted more stable accommodation and a chance to rebuild his life. The defendant asked the court to impose a custodial sentence so arrangements could be made for his future release.

Judge Geraint Walters noted there were signs Spelman wished to change but warned that any further breaches would result in longer prison terms.

With credit for his guilty plea, Spelman was sentenced to 10 months in prison. He will serve up to half in custody before being released on licence.

 

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Crime

Former Wales rugby star admits Christmas Day drink-driving offence

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Ex-Ospreys captain was almost twice over limit in Pembroke town centre

Former Wales back row Jonathan Thomas has admitted driving through Pembroke town centre on Christmas Day when he was almost twice over the drink-drive limit.

This week Haverfordwest magistrates heard that Thomas, 43, was stopped by officers as he drove his Mercedes CLA 220 along The Green, Pembroke, at around 5pm on Christmas Day.

“The officers were very concerned at the manner of his driving, as the car was being driven erratically and was swerving to the other side of the road,” said Crown Prosecutor Sian Vaughan.

“When Jonathan Thomas got out of the car, the officers could see that he was having difficulty standing and was unsteady on his feet.”

Subsequent breathalyser tests showed Thomas had 62 mcg of alcohol in his system, the legal limit being 35.

Thomas, who has no previous convictions, pleaded guilty to the drink-drive charge and was represented in court by solicitor Jess Hill.

“He has family in the area and had travelled to spend time with them on Christmas Day,” she told the magistrates. “He’s very remorseful for his actions and hugely regrets his decision that day.”

Jess Hill concluded by saying that Thomas is currently “between jobs and living off his savings”.

Thomas, who gave his address as Main Road, Bredon, was disqualified from driving for a total of 18 months.

“The length of your disqualification reflects the fact that you were more than a little bit over the limit,” commented the presiding magistrates when imposing sentence.

He was fined £120 and ordered to pay £85 costs and a £48 court surcharge.

The former Wales back row left his role as Swansea RFC head coach at the beginning of December 2025 as a result of ongoing health concerns. He was forced to retire from playing in 2015 on medical advice after being diagnosed with epilepsy and is one of the 390 former rugby union players currently taking part in a concussion lawsuit against the sport’s authorities.

“Long-standing issues linked to the head trauma have caused me some concern recently and it has been impossible for me to give the role everything it needs,” he said in a previous interview with the BBC.

His rugby career started out with Pembroke RFC juniors before moving to Swansea RFC, which he captained when he was 19. He then joined the Ospreys where, over a ten-year period, he won four league titles and an Anglo-Welsh Cup. He was the youngest player to captain the Ospreys and, at the time of leaving, was the joint highest appearance holder, together with Andrew Bishop, on 188 appearances.

His international career saw him play for Wales at Under-16, Youth, Under-19, Under-21 and Sevens levels. He made his senior international debut against Australia in 2003, featured at the 2007 Rugby World Cup and was part of two Six Nations Grand Slam-winning sides in 2005 and 2008. Between 2004 and 2011, Thomas was included in every Wales Six Nations squad. In his appearances for Wales, he scored seven tries.

 

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