David Ames, 70, has been found guilty by a jury at Southwark Crown Court on two counts of fraud by abuse of position. He offered no evidence in his defence.

A Serious Fraud Office (SFO) investigation uncovered how Ames deceived over 8,000 UK investors in the Harlequin Group, a hotel and resorts development venture, which included the Buccament Bay Resort in St Vincent and the Grenadines. Victims were led to believe they had a secure investment in property whereas, in reality, Harlequin Group was never operating as promised.