Guardian sues Harlequin investors over SIPP fees

SIPP providers holding Harlequin investments are set to earn £17m from investors in fees over the next ten years, according to a law firm, while the underlying investment could be virtually worthless. Harlequin investors - who put £400m of their pension money into the unregulated overseas property scheme expecting a monthly income from rents on tourist villas - have been left without the promised income or even access to their capital, after work stopped on the Harlequin resorts and its sales arm entered liquidation. As a result, they lack the funds in their SIPP cash accounts to pay ...