We have been very interested to see the increased press coverage of the difficulties that investors in Harlequin Properties are experiencing with their investments.
This was an unregulated property investment scheme dealing with luxury hotels in the Caribbean.
It seems to have been recommended to UK investors by various financial advisors and other intermediaries.
The major Harlequin distributor, Tailor Made Independent, entered creditors voluntary liquidation in October 2013 because it could not finance redressed payments to clients order by the Financial Services Regulator.
It is reckoned that Harlequin has taken about £400,000,000 from investors to invest in various property developments across the Caribbean.
In many instances investors will have been advised to put money in from self invested personal pension schemes or from giving up regulated and secure investments in favour of the Harlequin Property Schemes.
Although the investments into Harlequin were unregulated investments, regulated advisors who recommended them can still face liability claims from disappointed investors.
It is important that disappointed investors act quickly to bring their claims against their advisors because the way in which financial advisors are insured against professional negligence claims.
Waiting and seeing is probably not the best tactic when you have suffered an investment loss. We would strongly advise anyone who has doubts about the bona fides of their investments to seek independent legal advice from James Taylor of Wards Solicitors who specialises in Financial Services disputes related cases.