A Claims Management Company
Total amount invested
Approximately £400 million invested, according to FSCS estimates.
Why did people invest in it?
They were promised, and in some cases specifically guaranteed, a high rate of return on the investment based in The Caribbean.
Why was it mis-selling?
Some investors were not informed of the high-risk unregulated nature of the investment opportunity, and were inappropriately sold it as a part of a SIPP.
Potential value of cases
The average case is worth near to £66,000*.
Harlequin Hotels and Resorts was one of the Harlequin Group of companies owned and run by the businessman David Ames. It offered people the opportunity to invest in high-value resorts the Caribbean locations of St Vincent and Grenadines, St Lucia, Barbados, and the Cayman Islands. These properties were marketed as ‘well below market value’ with an ‘excellent potential for high capital appreciation and an annual rental income.’
Despite looking promising, in 2013, the UK Serious Fraud Office began an investigation of the Harlequin Group. They worked alongside Essex Police to examine claims that money being invested in Harlequin was being used inappropriately. Despite this investigation, Harlequin continued trading for a number of months. In 2017, David Ames, was requisitioned to appear in Westminster Magistrates’ Court for three counts of Fraud by Abuse of Position between 2010 and 2015, contrary to section 1 of the Fraud Act 2006. The case will be heard in court in April 2020.
*Based on an approximated averaged value per investor (approximately 6000 investors according to the FSCS).
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