Harlequin Property SVG, the land-owning unit behind the £400m ($509m, €454m) overseas property scheme facing ruin, has entered interim receivership while its flagship resort has closed after the electricity was disconnected.
Harlequin Property SVG, the company behind the £400m ($509m, €454m) overseas property scheme facing ruin, has won a $11.6m claim against its former accountancy firm Wilkins Kennedy.
The head of a UK IFA firm, which was one of the biggest sellers of the ill-fated Harlequin Property investments, has been fined £233,600 (€274,259, $291,491) for the poor advice he doled out to pension clients.
Investors into troubled overseas property company Harlequin have been asked to come forward and give evidence to assist the Serious Fraud Office in the final stages of its criminal investigation.
The Financial Ombudsman Service (FOS) has upheld complaints from four individuals who claimed they had been given “unsuitable advice” to transfer their pension savings into troubled overseas investment scheme, Harlequin.
Two former directors of failed financial advisory firm TailorMade Independent, which advised clients on self-invested personal pension transfers into troubled overseas property company Harlequin, have been banned by the Financial Conduct Authority.
The Financial Conduct Authority (FCA) has imposed an industry ban on two financial advisers after they lost almost two thousand customers money by convincing them to invest in high risk, unregulated products.
The UK’s Financial Services Compensation Scheme says it is “continuing to investigate” claims against TailorMade Independent, a UK advisory firm, to determine its “involvement in advising its clients to transfer existing pensions into Self Invested Personal Pensions” that were then invested in risky products.
Matthew Ames, the son of the head of the beleaguered overseas property company Harlequin, has been found guilty of two counts of fraudulent trading in connection with two investment companies he set up.
Property investment firm Harlequin has settled a libel action case which it brought against its former accountancy firm, Wilkins Kennedy, and two former employees.
Beleaguered property investment company Harlequin has won a High Court battle with a former contractor which had “fraudulently misappropriated” more than $13m.
Two partners in the West Midlands-based law firm that has been representing investors caught up in the collapse of the Harlequin overseas property business have launched a new venture with a seasoned UK financial adviser, which aims to give selected “partner” IFA firms seamless access to specialist legal services.
