Harlequin & David Ames: Ponzi Scheme House of Cards?
“Some investors asked for refunds, but in some cases were told up to a third of their deposit would not be repaid because it has been spent on commissions to sales agents and would be paid back over one to two years.”
“Harlequin is not authorized and regulated by the FSA, meaning there is no Government-backed protection for UK investors.”
What if everybody wanted their money back now?
Man oh man! 30% commissions paid to sales agents? No wonder the ‘investment counselors’ push Harlequin! 30%!!!
Here’s from Echo News and you should go their website to read Resort developer “to pay back cash” but you know we have to print the whole story here in case the Echo News story disappears like before times…
Resort developer “to pay back cash”
4:00pm Friday 14th December 2012 in Local News By Jon Austin
A SOUTH Essex-based Caribbean luxury resort developer hit by delays has confirmed it will pay back some investors.
Harlequin Property, based in Honywood Road, Basildon, says it will return any cash they are entitled to.
Nine investors are involved in court claims filed against Harlequin at the East Caribbean Supreme Court to get back deposits and compensation plus damages for alleged misrepresentation by the firm.
It comes as the Echo can reveal the business has been probed by the UK finance watchdog the Financial Services Authority. Continue reading