Study finds 40% of Harlequin investors want money back

Laura Miller
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A survey of 150 investors in properties sold by overseas property agent Harlequin, which is at the centre of a Serious Fraud Office (SFO) investigation, suggests as many as 40% of them have asked for their money back - but only two have received it.

Elsewhere the research, carried out by law firm Regulatory Legal which represents the surveyed investors in their pursuit of Harlequin, points to up to 50% of cases where mortgages taken out by investors - and where Harlequin promised to support the mortgage interest payments - not being up to date. Contractual completion dates for properties investors purchased through the £200m Harlequin Property scheme between 2008-10 were not met by two thirds of those surveyed. The survey also suggests 45% of investors were told the Harlequin investments were low risk and a further 40% did not re...

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