Karl Azzopardi, the owner of the defunct holiday company Fantasy Tours, will be charged in court with misappropriation and fraud after he took bookings a day before sending customers SMS messages that the firm had closed down.

The police concluded their investigations a year ago and had waited for legal advice from the Attorney General’s office before proceeding. Several documents had to be reviewed due to the large number of customers who were allegedly defrauded and had their money misappropriated.

Mr Azzopardi began to be investigated in August last year when Golden Travel Club Ltd, operators of Fantasy Tours, cancelled almost €400,000 worth of vacations.

More than 250 reports were filed by angry clients claiming the travel agency had taken money for booked holidays that fell through.

The same day the clients were informed by SMS about their cancelled holidays, the company filed a suit asking the First Hall of the Civil Court to dissolve the company on the basis of bankruptcy since it could not repay its debts.

Testifying before Mr Justice Joseph Zammit McKeon, Mr Azzopardi blamed the failure of his firm on a warning issued by the Malta Competition and Consumer Affairs Authority which, he said, killed off his business.

At one point during the proceedings, Mr Justice Zammit McKeon chastised Mr Azzopardi and asked how he could look his customers in the eye when taking their money, knowing he could not give it back.

In response, he said he continued to pay his suppliers in a bid to turn things around.

The criminal case against Mr Azzopardi has been assigned to Magistrate Anthony Vella, who is expected to appoint a date for the first sitting next week.