Daily Archives: February 24, 2013

Serious Fraud Office asked to investigate Harlequin – “3,000 Britons fall victim”

Harlequin Pension Fraud

(click photo for full size)

Mail on Sunday visits Merricks Beach Resort in Barbados “Rubbish-strewn field”

“We have been left completely in the dark and fear we’ve lost everything. they haven’t even started building the resort yet.”

Merricks buyer Mrs. Gupta in the Daily Mail article 3,000 Britons fall victim to £250million fantasy villa fiasco

The Daily Mail and the Mail on Sunday are publishing a series of investigative news articles about David Ames and the Harlequin Property scandal that saw thousands of people ‘invest’ in what is so obviously a Ponzi pyramid scheme that relies upon finding new ‘investors’ to pay sums promised to earlier ‘investors’.

Journalist Russell Myers and his colleagues Martin Delgado and Sharon Churcher published the first piece in the series on Saturday, February 23, 2013.

Online reports from investors here at Barbados Free Press and elsewhere recently revealed that Harlequin is behind in interest payments to some investors who took out mortgages and loans to fund their Harlequin purchases. Harlequin was supposed to pay the interest to the purchasers’ financial institutions as part of the agreement with the ‘investors’ but it looks like the house of cards is getting very shaky indeed.

The role of the governments of Barbados and other Caribbean nations caught up in the Harlequin scandal is also drawing international attention and must reflect badly upon the involved Caribbean governments and nations.

Barbados and the other nations failed to protect foreign investors and as a result the Harlequin fiasco will taint the region’s other resort and retirement projects for many years. Barbados Free Press has been extensively covering this story because we believe our leaders made very poor decisions about Ames and Harlequin in an environment where Barbados lacks Integrity Legislation, Conflicts of Interest standards and Freedom of Information laws. The lack of accountability for elected and appoint public officials likely played a large role in how Barbados politicians welcomed David Ames and his ‘political donations’…

“Our government gave Ames and Harlequin the benefit of our country’s reputation – and when the Harlequin house of cards falls, it will be the reputation of Barbados that is harmed the most.

Something for our ‘leaders’ to think about the next time that some offshore investor property developer arrives bearing gifts – because no doubt Mr. Ames spread some gifts around freely.”

… from the January 26, 2013 BFP story How Harlequin damaged Barbados reputation

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