£125m paid out to Harlequin resort investors

Pedro Gonçalves
clock • 1 min read

The Financial Services Compensation Scheme has paid 2,700 investors around £125m compensation after they lost money 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 FSCS confirmed to Professional Adviser it was still receiving associated claims. Advisers - or ‘agents' - who sold Harlequin earned commissions of up to 15% of the investment. Ultimately, the villas were never built, and the investment is now worthless. In...

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