LEGAL AUTHORITIES in Britain are investigating a huge Caribbean hotel property scheme that involves Barbados, after nearly 3 000 Britons pumped £250?million (about BDS$800 million) of their savings into it.
The British Financial Services Authority has issued an “alert” while the Serious Fraud Office is investigating the Essex-based Harlequin Property, which is responsible for at least two major hotel projects in Barbados.
The Mail On Sunday newspaper of Britain said in its online edition yesterday that several investors, mainly British pensioners, were fearing financial calamity after being promised by Harlequin that it would build 6 000 luxury villas in St Lucia, St Vincent, Barbados and the Dominican Republic.
So far, just 300 of the properties have been constructed.
