Tag Archives: Caldora Harlequin Investment Fund

Harlequin selling Headquarters building for £525,000 – Where is the £400million taken from investors?

harlequin headquarters fraud

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

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Filed under Barbados, Business & Banking, Consumer Issues, Crime & Law, Offshore Investments

Echo-news.co.uk takes down major Harlequin investigative report. Why?

Ladies and gentlemen,

One of our readers recently commented on a BFP article about the Harlequin Hotels & Resorts situation and left a link to the Echo Newspaper in the United Kingdom. The July 10, 2012 Echo News article was titled “Wickford man at the centre of storm in the Caribbean property market“, and was a “SPECIAL INVESTIGATION by JON AUSTIN”

If you click on the link above you’ll see that the article is no longer there. This fits right in with our observation last week that Anti-Harlequin websites are disappearing.

Can we say “libel chill” ?

What was wrong with the Echo article? Surely the paper had their legal experts review it before it was published. We saw the article and intended to to a story about it, but alas, we failed to copy it at the time and now it’s gone from online. It was only there for a short time and even Google doesn’t have it in the cache.

So what is to be done?

Aha! We’re asking our readers around the world to forward copies of the article to BFP. 

Someone out there has a copy of the printed dead tree version that they can scan for us. Perhaps someone else made a PDF from the online article. Whatever you have, please send it and BFP we will dissect the article and see if we can determine why it was taken down.

I remember reading in the article that Harlequin hadn’t filed the required financial statements in St. Vincent for the last FOUR YEARS.

This is of vital interest to Bajans due to freedom of the press, and also of interest to those investors who have very legitimate questions about why so few units have been completed throughout the Harlequin projects list, and why the construction is not following the schedules communicated earlier by Mr. David Ames.

If the investigative reporter from the Echo would contact us and tell us what is going on, we’d appreciate that too. Mr. Austin, how about sending us an email at barbadosfreepress (at @) yahoo.com

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Filed under Barbados, Business & Banking, Consumer Issues, Freedom Of The Press, Offshore Investments

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