Many “investors” in Dave Ames’ Harlequin ponzi scheme lost everything they had and more. Many of the gullible mortgaged their homes to “invest” in Harlequin, and relied upon the promises of Harlequin’s sales representatives. But the sales people knew that no legitimate investment could afford to pay the commissions that Harlequin was paying it’s representatives.
Now after losing everything, Harlequin victims are set to lose even more as Guardian SIPP is suing the investors for non-payment of the fees related to their self-invested personal pension.
Who is to blame for the mess?
Start with David Ames – but lined up with Ames should be the Government of Barbados, that allowed Harlequin companies to get away without oversight, accountability, annual filings and statements for the entire time. And our Government allowed Ames to acquire and start projects with zero oversight or consideration as to whether Ames had the means to finish those projects. As a result, the ‘H’ Hotel and Merricks projects look like bombed out disaster sites that are a testament to the greed and incompetence of the Bajan political class. Another Barbados property investment disaster that sends the wrong message to the world.
It’s fine to say that Ames and his crooked friends are responsible – but they couldn’t have done it without the wholesale purchase of willing politicians in Barbados and throughout the Caribbean.
Professional Adviser: Guardian sues Harlequin investors over SIPP fees