Fraud & Corruption In The Caribbean: How Was The £400 m Harlequin Property Scam Allowed To Go On For So Long & Who Can Be Held Liable?
This session will look at an investment fraud perpetrated by a British former bankrupt double-glazing salesman whose group raised more than £400 million from 6,000 mainly British pension investors by selling the dream of properties in St. Vincent & The Grenadines, Barbados and St. Lucia.
It will set out the roles played by Harlequin’s management, auditors, building contractors and sales force; the reactions of Caribbean governments; and the inaction of regulators, including the UK’s SFO and FCA, as well as commenting on Harlequin’s attorneys' efforts to stifle complaints and gag the press.
It will provide an update on the position with regard to Harlequin's own legal claims against its auditors and building contractor.
It will examine the inability of investors to obtain satisfaction from the Courts and the abuse of legislation meant to improve insolvency processes.
It will consider what assets can be recovered for victims and what compensation might be available for investors.
Director, Grant Thornton (Leeds)
Partner Law, Delany Law (Barbados)