Court allegations: Padraig O’Halloran took Harlequin for $13 million spent on private jet, lavish lifestyle

Padraig O'Halloran

Padraig O’Halloran

How did Harlequin get taken for so much money?

It looks like David Ames and Harlequin weren’t looking out for investors’ money when they let Padraig O’Halloran get so far over the line. Harlequin says that O’Halloran misspent $13 million out of payments of $50 million intended for the development of the Buccament Bay Resort.

You could laugh if it was Ames’ money – but it wasn’t. It was the ‘investment’ of people who trusted that their units would be built as Ames said they would.

My, my Oh My!  What a mess…

Court told of $13m used for ‘lavish lifestyle’

A developer unlawfully diverted over $13 million for his own benefit and “lavish lifestyle” out of some $50 million intended for the development of a luxury resort in the Caribbean, it has been claimed before the High Court.

Pádraig O’Halloran used some of the money to buy properties, a private jet, a grand piano for his girlfriend and also paid €120,000 to Weddings by Franc, the wedding organiser featured on TV.

Referring to the 2009 purchase of a jet, Paul Gallagher SC, for the plaintiffs, said Mr O’Halloran (42) was swept up “in the feeling of the times” and got ideas “wholly unsuitable” for what he was engaged in. It is alleged various payments were made by a company of Mr O’Halloran’s, Shippool, Innishannon, Co Cork, to Irish bank accounts.

Harlequin Property Ltd and Harlequin Hotels and Resorts Ltd, owners and operators of a luxury resort in Buccament Bay, St Vincent and the Grenadines, have also claimed Mr O’Halloran used their money to buy a property in Ireland; properties and businesses in the Caribbean; a $1.5 million private jet, a grand piano, dental work and other items of personal expenditure…

continue reading this story at the IrishTimes.com

7 Comments

Filed under Barbados, Barbados Tourism

7 responses to “Court allegations: Padraig O’Halloran took Harlequin for $13 million spent on private jet, lavish lifestyle

  1. Well Well

    These are the same idiots allowed to go into BIM and walk aeound like they are superior to the natives, HA!!

  2. Just proved what an Idiot Ames is, he has been doing the same with our money for years – thats why he files no accounts. Birds of a frther flock togeather……. I will update you when I hear from my solicitor.

  3. 241

    “extraordinarily informal” Ames’s lawyer calls the agreement. Whose fault is that?? I have seen build contracts in Caribbean for hotels ten percent the size that are 50 pages long. How dare ames be so cavalier with investor money? Would such a person go off and spend millions of those dollars on non building related items, such as random hotels, tiny airplanes, loads of celeb guests, house for himself, endless legal fees etc. Oh, yes, he would and has done. No wonder the well is dry and investor units remain unbuilt. What a conman is David Ames.

  4. New Stuff

    I agree with the comment above. A project with this capital value should have contracts that run to many volumes of thick documents. In doing my own due diligence I researched a contract for a £150m project which had a legal contract of around 2000 pages which cost around £1m of legal fees to negotiate. Needless to say that the project was built to specification on time and on budget.

    I would have thought that this admission would open Harlequin to litigation from not only investors in Buccament Bay but, because of the “structure” of their contracts allowing them to use funds from any project, any other investor who wishes to take them to task.

  5. Well Well

    One little business proposal to carry to an investor or loan institution runs over 30 pages.

  6. yatiniteasy

    West Indian saying…”Tief tief from tief make God laugh.

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