FSCS has shelled out £125m in Harlequin compensation

In process of recovering money

Hannah Godfrey
clock • 1 min read

The FSCS has so far paid out £125m in compensation to around 2,700 investors in Harlequin Hotels and Resorts-related schemes, with further claims still coming through, the lifeboat fund has revealed.

Around 6,000 investors invested an estimated £400m in the property development projects and the Financial Services Compensation Scheme (FSCS) confirmed to Professional Adviser it was still receiving associated claims. The Harlequin group is a collection of companies involved in the marketing, sales and development of overseas investment properties connected through the common ownership of David Ames and his family members. Harlequin sold speculative overseas property developments promoted by a UK registered company, Harlequin Management Services. Advisers - or ‘agents' - who sold H...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Advisers urged to prioritise mindset over products in retirement planning

Advisers urged to prioritise mindset over products in retirement planning

Defaqto conference panellists urge shift to service-led, goal-driven strategies

Sahar Nazir
clock 02 May 2025 • 1 min read
PA360: 'Clients crave certainty, not solutions' – advisers urged to listen harder

PA360: 'Clients crave certainty, not solutions' – advisers urged to listen harder

‘Are you really listening to your clients?’

Sahar Nazir
clock 02 May 2025 • 2 min read
PA Asks: Should the cash ISA limit be cut?

PA Asks: Should the cash ISA limit be cut?

Plus, which business leader inspires you, redundancy cover and NFTs

Professional Adviser
clock 02 May 2025 • 1 min read