We’d say it was like selling off the family silverware, except there is no silverware left. Probably never was any.
After slickly removing £400 million from little old ladies and transit pensioners, David Ames and his gang are selling off their headquarters to pay the bills.
The Serious Fraud Office and the Essex Police have had an open file on the bunch since early 2013, but after two years Ames is still walking around with the rotting financial corpses of thousands of victims in his wake.
Two years should be long enough for the police and the SFO to do the job. What’s the delay?
From the Professional Adviser…
Troubled Harlequin puts HQ up for sale
Troubled overseas property investment scheme Harlequin has put its headquarters up for sale.
The warehouse and offices in the Honywood Business Park in Basildon have been listed for sale on property website Rightmove for £525,000. Harlequin owner David Ames would also consider leasing back the first floor offices at a rent of £25,000 per year, according to the advert.
A spokesperson for the company said: “Harlequin owns its Basildon offices and occupies the first floor of Unit 11, with all other space let to third parties.
“Harlequin is attempting to sell in order to discharge its liability and remove its responsibilities as a lessor.”
The move raises further questions over the financial situation of the company, which has received £400m from investors that they are currently unable to access.
Unregulated investment scheme Harlequin worked by taking deposits from mainly UK pension investors to build off-plan properties in the Caribbean, which could then be sold at a profit on completion or used to generate a rental income from holidaymakers. But out of a scheduled 6,000 properties, about 300 have been built.
… read the rest at the Professional Adviser