The Serious Fraud Office (SFO) has won its first recovery order against David Ames, the convicted fraudster who cheated 8,000 victims through the £226m Harlequin SIPP-focused timeshare scheme.
The Serious Fraud Office (SFO) secured a £283,321 confiscation order against David Ames as part of its recovery process.
Mr Ames must pay the confiscation order or face up to three years being added to his existing 12 year sentence.
Mr Ames was one of the instigators of a Caribbean island timeshare fraud scheme which encouraged victims to invest via SIPPs.
The SFO says the move marks a “step forward” in the SFO’s asset recovery action against the former property developer and convicted fraudster.
In 2022, following a successful SFO prosecution, Mr Ames was sentenced to 12 years in prison for a £226m fraud.
SFO investigators have since uncovered hidden assets belonging to Mr Ames, including suspected land in Thailand and luxury properties in Dubai, cash held under Mr Ames’ name in a hidden bank account and “tainted gifts” – funds transferred to family members.
Details of the assets were heard during a contested hearing at Southwark Crown Court in November 2025.
Mr Ames ran Harlequin Group, a property development business which conned pensioners and first-time investors to part with more than £226m through a range of tactics including celebrity endorsements. Investors were told funds would be used to build timeshare properties overseas.
The SFO said that many victims lost life savings 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.
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.”