The Serious Fraud Office (SFO) has charged Harlequin Group founder and chairman David Ames with three counts of fraud by abuse of position.
The SFO, alongside Essex Police, announced it was investigating the Harlequin Group of companies back in March 2013. The investigation is ongoing.
The alleged activity occurred between January 2010 and June 2015. Ames (pictured above, left), 65, from Wickford, Essex, has been requisitioned to appear at Westminster Magistrates' Court on 22 March 2017.
The SFO restated that Harlequin investors who invested via a self-invested personal pension following advice may be entitled to compensation from the Financial Services Compensation Scheme.
In February last year, Ames was ordered by the High Court to pay investors £1.3m to settle claims against him. Around 3,000 mainly British pension savers invested in the region of £400m with Ames and his wife Carol (pictured above, right) on the promise of high-rental returns on villas such as the Buccament Bay Resort in St Vincent and the Grenadines in the West Indies.
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