The Serious Fraud Office (SFO) has secured over £280,000 from fraudster David Ames who deceived thousands of victims through a Caribbean island timeshare fraud.
Ames ran Harlequin Group, a property development venture persuading pensioners and first-time investors to part with more than £226m using vartious tactics including celebrity endorsement. Investors were told funds would be used to build timeshare properties overseas.
Many lost lifesavings and pensions when the scheme collapsed in 2013, with only 200 of the promised 9,000 units built across two sites in Buccament Bay in St Vincent and the Grenadines.
Following Ames’ sentencing to 12 years in prison in 2022, SFO investigators uncovered hidden assets belonging to Ames, including suspected land in Thailand and luxury properties in Dubai, cash held under Ames’ name in a hidden bank account and funds transferred to family members
Ames must pay the £283,321 confiscation order or face up to three years being added to his existing twelve year sentence.
Paul Napper, head of the proceeds of crime division at the SFO, said: “Ames took multiple steps to hide the profits of his audacious fraud – a crime funded by thousands of people’s life savings and pensions.
“Our specialist team uncovered his multiple assets, hidden across the globe, and today’s result is a first step in ensuring Ames does not profit from his crimes.”
