A COMPANY boss has spoken of his anger after police launched a fraud probe into Bournemouth’s Coastal Business Improvement District (BID).

Matt Donnelly, operations manager for Beds are Uzzz, talked to the Daily Echo after it was revealed that a significant amount of levy payers’ money – believed to be some £100,000 – cannot be traced.

The Coastal BID, which is not affiliated or associated with the Bournemouth Town Centre BID, collects mandatory payments from around 700 businesses across Westbourne, West Cliff, East Cliff, Boscombe, the seafront, Southbourne, Tuckton and Hengistbury Head.

Mr Donnelly said there is “no benefit” to companies like his.

“We have to pay into it, we have no choice. We pay £500 a year,” he said.

“We have had a couple of different representatives. Even they have admitted we get absolutely no benefit from it.

“Where we are and the type of business we are, we don’t receive any benefit.

“It’s just not worth it. We receive no benefit at a time when retail is struggling.

“It’s money down the drain. It is heartbreaking really.”

Police formally launched their investigation into the Coastal BID in August.

The Daily Echo has made unsuccessful attempts to contact the former manager of the organisation, Stefan Krause.

He no longer works for the BID.

It is understood he has returned to Germany with his husband.

Mr Donnelly said it was “frustrating” to read the report into the fraud investigation.

“It’s ridiculous really. It was sold to businesses as something that would bring more people into the town,” he said.

“Well, no one comes on holiday and buys a mattress, so any money we put in isn’t something that benefits us. To see the story about the fraud is just really frustrating.”

Police investigating the allegation say that no arrests have been made and no charges have been brought.