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...

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