An Essex businessman behind a £226m luxury Caribbean holiday homes fraud in which thousands of people lost their life savings and pensions has been sentenced to a 12-year term after a judge described him as running a “gigantic Ponzi scheme”.
David Ames, 70, was convicted last month at Southwark crown court on two counts of fraud by abuse of position, after a Serious Fraud Office investigation found he had deceived more than 8,000 UK investors in the Harlequin Group, a hotel and resorts development venture, using celebrity endorsements to lure people in.
