Daily Archives: December 17, 2013

Should financial advisors be penalized for recommending the disastrous Harlequin ‘investments’?

Harlequin & David Ames: Knew sales agents were lying to investors.

Harlequin & David Ames: Knew sales agents were lying to investors.

TailorMade Independent under the microscope…

“In total around 7,000 investors put £300 million into Harlequin, half of this, £150 million was invested on an advised basis.”

Gareth Fatchett, solicitor at Regulatory Legal, who is representing a number of Harlequin investors, said most of the advice he had reviewed was poor and had been motivated by commission. ‘99% of the advice I’ve seen is terrible, inappropriate, commission-driven stuff,’ he said.

It doesn’t get much worse than this, and we wonder when and if criminal fraud charges will be laid against David Ames and his cohorts. So many lives ruined, so many pensions destroyed.

Some new happenings:

FSCS writes to Harlequin promoter TailorMade’s clients

Harlequin investors hit out at TailorMade Group

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