Stunning new allegations about Harlequin Resorts: misuse of investors’ funds, auditors refuse to sign off

Barbados Free Press issues Invitation to Harlequin Resorts

The investors’ insider website Harlecon.net published a Valentines edition that is a stunner. Surely somebody from Harlequin Resorts or the Government of Barbados can and will refute what is being said?

Barbados Free Press makes this offer to Harlequin Resorts and the Caribbean governments that have partnered with Harlequin:

The website Harlecon.net published extremely serious allegations against Harlequin Resort companies and the management. Should Harlequin Resorts or the partnering governments wish to reply to the allegations or make any other statements to our 2 million visitors a year, Barbados Free Press will publish the responses – unedited, exactly as submitted and feature them prominently without editorial comment.

Harlecon’s Valentine allegations against Harlequin Resorts

  1. Harlequin Resorts failed to file audited statements in UK and the Caribbean.
  2. Harlequin’s auditors are refusing to sign off on previous years accounts for Ames’s Caribbean companies.
  3. Banks and main stream financial institutions have walked away from the Harlequin Investment Fund.
  4. Ames Lied on oath with regards to having the funds to cover the completion mortgages.
  5. The Caldora “Harlequin Investment Fund” launched on Feb 10th 2012 “hope to make substantial loans available to Harlequin through the fund, subject to the fund being subscribed, in return the fund will take a legal charge over the different Resorts… So whether you can afford to pay for your own property outright or you are in a position to arrange your own mortgage Caldora will be given a first charge over the Resorts including your property.”
  6. Harlequin is using investors’ funds to outfit the Buccament Bay restaurant facilities, yet the investors have no stake.
  7. Barbados Government is not allowing Merricks Resort to build as close to the cliff as previously stated by Harlequin. As a result a great number of villas – sold and unsold – no longer exist. Many buyers are still unaware that what they purchased will never exist.
  8. Barbados Government still withholding full permissions for Merricks Resort.
  9. Merricks Resort has been sold below construction cost.
  10. H Hotel – Barbados project is running into many problems. Advertised April 2012 opening date has no relation to reality. Money raised through the sales of rooms in this hotel will now not cover the escalating construction costs.
  11. At Buccament Bay Harlequin is using investors’ funds to outfit the restaurant facilities, yet the investors have no stake.
  12. Occupancy Levels at the Buccament Bay Resort are some 25-30% BELOW average and this is including all the Harlequin construction staff staying at the Resort.
  13. Harlequin agents are informing prospective buyers and investors that the Buccament Bay Conference Facilities will open in July 2012, but construction hasn’t yet started.

Remember Folks… These are only allegations made by the anonymous blog Harlecon.net, so take them with a grain of salt. Do your research and make up your own minds about Harlequin and everything else.

We’ll be watching to see if Harlequin Resorts launches any lawsuit against Harlecon, and if the Harlequin companies or involved governments make any statements on the matter.

Full story and many more allegations at Harlecon.net

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12 Comments

Filed under Barbados, Business & Banking, Consumer Issues, Economy, Offshore Investments

12 responses to “Stunning new allegations about Harlequin Resorts: misuse of investors’ funds, auditors refuse to sign off

  1. yatiniteasy

    Did they receive Town and Country planning permission? I thought there was a problem with the water supply in dry St Philip, for this big project?

  2. rastaman

    Depends on how much money was passed!!!

  3. lightman

    T&CP informed they must put in larger water main to serve their development plus the existing residents in Peat Bay-approx. 30 hoses. They must widen and improve the existing Peat Bay road and build a proper road across the pasture to the Development. Normal stuff. Re the cliff edge the normal setback from the edge is to be observed so don’t understand the allegation of loss of properties from the original approved plan. Looks like mischief here.

    H-Hotel (Allamanda) is on schedule and is being finished on the inside. Use of funds to develop/enhance the resort with Restaurants or whatever is normal and within the purview of the Developer. Nothing unsusual here. Harlecon seems to be a “sour grapes” website founded by a former minority partner or executive employee who ran Harlequin’s early efforts in Buccament Bay and misspent tons of developers money until finally being “separated” from the company. Running a scam on a company that is now being called a scam is rich indeed! We say “tief from a tief does mek God laugh!”

  4. yatiniteasy

    @Lightman..Have the water mains been put in as per the condition of development?Answer….NO
    H- Hotel is “on schedule and is being finished on the inside”…what a crock! Right now you can look right through the shell of a building that it is, from Hastings main road straight into the beautiful blue bajan sky.There is no “finishing” going on, obviously.Why tell lies that are easily exposed by simple observation?

  5. 170

    All this chat happening many years after people bought their homes and a couple of years after Merricks was supposed to be opening. Still not even show homes built (and very little work going on there too) so years still until open. No matter whether harlecon is sour grapes or not, the facts are clear to all. Harlequin are bandits who are not able to do what they say, just keep lying and straying from what they should be doing – building homes. A joke outfit of very obviously incompetent developers at best, and crooks at worst. The courts will one day decide which.

  6. yatiniteasy

    Strange lack of comments on this..is it fear of Harlequin, or just indifference?

  7. yatiniteasy

    Check Harlecon.net for the most recent updates.

  8. PLANTATION DEEDS FROM 1926 UP TODAY A ND SEE MASSIVE FRAUD ,

    Barbados Free Press and other JUST dont GET IT,, All deals with the Land and who owns the Land ,, Title search is not done , good title does not mean Clear Title.Town and Country , Mr Williams may give Permission but you still need Permission from the True land owner…they say 20 years for good title what about for Clear Title . Fraud is at hand buying and paying for what you will never own ,, cloud on title ,, go back 50 years and see the Massive FRAUD FOR THE LAST 27 YEARS. COVER UPS ON BOTH PARTY AND THEY FILL POCKETS WITH MONEY AND PAY THOSE IN FAMILY AND FRIENDS TO SPLIT ,, ASK SIR COW AND SIR RICHARD L. CHELTENHAM ON WHITE PARK ROAD …… WAKE UP DONT GET IN TO THE HYPE KNOW THE FACTS ,,, ITS ALL LEADS BACK TO THE LAND AND THE DEEDS , TITLE, MMMMM GREED ,

  9. maria

    Harlequin are liars who DO NOT keep agreements. I bought in St Lucia and provided my deposit on the basis that they company will pay the interest on my loan, They stopped making the payments in March 2011, after calling me to ask for permission to do so on the grounds that they had been told (by bank?) to reduce their outgoings. I said I was not in a position to allow them to stop making the payments which would leave me with an unplanned outgoing of 352 pounds a month, but they just stopped anyway and have ignored all my communications on this, including recorded delivery letters. I cannot warn people strongly enough to steer clear. I believe it is only a matter of time before this whole pack of cards falls. Ames does the same thing that Bernie Madoff did when he ran his Ponzi scheme – he surrounds himself with big names so that people say “well if the PM of St Lucia/Pat Cash/Gary Player, etc are involved, it must be okay”. Eventually, the truth will out, but how many people will lose their money first?

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  12. yatiniteasy

    I have never seen such a bunch of crap as above. Is this person a complete nutcase, or are they trying to break BFP`s security so they can close it down like Harlecon.net?