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HARLEQUIN PROPERTIES SIPP SCANDAL
The Harlequin Property overseas resorts saga has been going on a while… does your story end with a winning claim?
Harlequin Properties was supposed to build over 6000 amazing and profitable hotel and rental properties in stunning Caribbean locations, but despite accepting around £400m from UK investors from sources like SIPP pensions (for which some agents were paid 15% commission, by the way), only around 300 got built.
Now, Harlequin has become an example of what can go wrong with high-risk and unregulated overseas property developments, right from the way it was sold by a network of marketing companies who cold-called their targets, and Independent Financial Advisers who mis-sold sold it, to where it is today – with the Saint Vincent & The Grenadines section (Harlequin SVG) in insolvency proceedings, and their chairman appearing in court under charges of fraud.
Harlequin Properties first appeared to many investors in calls from unregulated marketing companies or at property investing seminars: cold-calling firms who’d ring up, seemingly “out-of-the-blue”, usually to offer a pension review.
In some cases, high-pressure techniques were used, such as down-playing people’s current pension arrangements, and inflating the security and safety of a Harlequin Properties investment, itself a high-risk and unregulated investment: not under the jurisdiction of the FCA.
The FSCS has paid out over £98m in compensation for Harlequin.
Do you have a claim too?
Timeline of events: Harlequin Property
Did you know, we started making successful claims over mis-sold Harlequin Investments years ago?
The Harlequin saga is well known to the case handlers at Get Claims Advice.
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How could Harlequin have been mis-sold?
Harlequin properties is a high risk investment, and a financial advisers should have checked that you match-up with some of the descriptions below before allowing you to invest…
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