Claims On Mis-Sold Investments: Harlequin Property
The story of Harlequin Property and the company’s overseas resorts is a long and increasingly grim one. Harlequin investors, in particular, come out poorly. Can you write yourself a better ending?
As sold to investors, Harlequin Properties was charted as an amazingly profitable Caribbean resort conglomerate. Harlequin was supposedly going to build more than 6,000 separate properties. After vacuuming up £400 million from UK investors, the firm produced a grand total of 300 properties. Many investors sank pension money into the venture using SIPPs.
Today Harlequin is a cautionary tale about the dangers of unregulated high-risk overseas investments. Every part of the Harlequin story is regrettable. Marketers pushed Harlequin investments on unsuitable targets with cold-calling tactics. The final chapters are likely to be grim as well. The company’s chairman has been charged with fraud. The company’s Saint Vincent & The Grenadines division (Harlequin SVG) is already in insolvency proceedings.
