£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...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login