"Throw your current lifestyle overboard!" boasts the advert for Victoria Cruises Line (VCL), which bills itself as the world's first affordable residential cruise.

Cabins typically go for US$3,840 (£2,858) a month for a three-year voyage to 115 countries, and travellers from all over the world have the option of doing the route for as long as they like.

For Australians Dennis and Taryna Wawn from Perth, excited by the prospect of a home at sea, the advert on Facebook couldn't have come at a better time as they planned their retirement.

Three years later, the ship has yet to sail. In fact, they and other would-be cruise residents have found that VCL does not even own or have a lease on the ship that is being advertised.

The Wawns are just two of dozens of people who have been waiting for VCL to refund their deposits, the BBC has learned.

Other would-be residents told the BBC they sold their homes, rehomed cats and put their belongings into storage. One woman said she had put down her sick dog, believing she would be gone for years.

Another couple have now had to move into a retirement community because of their advanced ages and failing health. They could no longer commit to a residential cruise that might or might not ever sail.

"The people that put down a deposit for this cruise were sold a dream... and it has turned into nothing short of a nightmare," said Adam Glezer, who runs a consumer advocacy company. "What VCL has done is disgusting."

Those affected have contacted the company, some have launched legal cases and others have filed consumer complaints to government agencies. One even wrote to the FBI.

VCL told the BBC that it still needs more customers before a vessel can be chartered and so is continuing to advertise the cruise.

The company said customers knew about the occupancy condition when booking, and the company denies targeting or harming anyone, adding that it advised some clients not to sell homes to pay deposits.

Many of those who signed up have given up hope of the ship ever sailing, or of getting their money back.

Taryna, 64, said that in May 2022, she and Dennis were starting to think about their future and what it could look like when they came across the residential cruise. The couple feel they did their due diligence.

Taryna said the company had a well-built and detailed website, they also spoke to a man from the company "who answered all the questions", and........

© BBC