David Ames, chairman of Caribbean hotel and resort developer Harlequin Group, has been found guilty of defrauding more than 8,000 investors in the UK. David has cheated them of Rs 21,71,00,47,500. He was found guilty at Southwark Crown Court in London. According to reports, AIIMS pleaded not guilty to the charges against him in 2017. Despite pleading not guilty, AIIMS could not provide any evidence in its defence.
His wife, Carol Ann, supported him throughout the trial. The 70-year-old will be sentenced next month. Harlequin Group is a hotel and resort development enterprise located in Honeywood Road, Basildon.
AIIMS was working in a planned manner to commit this crime. He used to collect 30% deposits from investors wanting to buy an unbuilt villa or hotel room in places like Dominican Republic, Barbados etc. Half the fees went to Harlequin Group and salespeople. The remaining half was given for construction.
The whole process seemed quite normal but there was a twist. The construction never happened. While David enriched himself and his family with all his earnings, investors lost their pensions and life savings.
Victims were made to believe that they had a safe asset investment, but 7 years after the scheme was launched, AIIMS faced a cash crunch. In 2012, he had a shortfall of Rs 11,54,25,744. After facing this major cash crunch, Harlequin Group ceased development of hotels and resorts and went into administration. Investors faced 100% risk of loss and no return on their investment.
According to the Serious Fraud Office, AIIMS continued to ignore warnings that the business was likely to go bankrupt. He also shunned allies who tried to raise the issue. More than 25 witnesses exposed the full extent of AIIMS’ crime. Judge Christopher Heer said, “There will inevitably be a long prison sentence.”
This company was endorsed by many celebrities and politicians. Many are demanding to know which politicians supported this business venture.
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