A group of investors in troubled overseas property scheme Harlequin have dropped a case against the scheme's chairman David Ames, and his company director wife Carol, that alleged the pair made false claims about the investment.
Harlequin and its lawyers declined to comment, and would only say that the case to sue the Ames' had been "withdrawn" by the group of 24 investors. Papers filed with the High Court show the complaints against the Ames' included that they incorrectly told investors they would have access to a guaranteed mortgage if they invested in the off-plan properties, and that Harlequin was backed by third party finance. In total, investors put around £400m into Harlequin on the basis of those claims. Many borrowed money, for example by re-mortgaging their home in the UK, to fund the 30% initia...
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