Harlequin group accuses Irish developer of fraud

Developers of the Buccament Bay Resort Harlequin Property (SVG) Ltd and Harlequin Hotels and Resorts Ltd. are suing Irish developer Padraig O’Halloran for allegedly diverting for his own use large sums of money paid to his companies for work at Buccament which was allegedly left unfinished.{{more}}

The Irish Times on Wednesday reported that 40-year-old O’Halloran is alleged to have diverted for his own use large sums out of the $52 million paid to his companies, ICE Group (SVG) Ltd and Cellate Caribbean (SVG) Ltd for the Buccament project which is slated to have a soft opening in August.

It is alleged that Halloran, 40, misappropriated substantial funds to pay for his planned wedding in Ireland, to purchase property in the Caribbean renovate his rented Barbados home, buy expensive cars and a $65,000 teardrop diamond ring for his girlfriend, and lease a private plane.

O’Halloran, who is also sometimes known as Paudie, was engaged in 2008 by David Ames, the owner of Harlequin Property (SVG) Ltd and Harlequin Hotels and Resorts Ltd. to complete the construction of the Buccament Bay Resort.

A suit is also being brought against O’Halloran’s girlfriend Suzanne Floyd and others.

Proceedings have also been brought in the Irish Courts.

The article reports that the Irish proceedings concern the alleged transfer by O’Halloran of some $1.14 million (pounds) to the Bank of Ireland and a permanent Trustee Savings Bank accounts.

The proceedings were admitted to the Commercial Court in Ireland this week by Justice Peter Kelly.

The article reported that in an affidavit, former employee of O’Halloran, Trisha Young, said: “The key motive behind the siphoning off of funds was to continue to enable his beloved girlfriend Suzanne Floyd to live her lavish lifestyle”.

Young also claimed a serious issue arose during her employment related to the allegedly unsafe nature of building materials being used at the Buccament Bay project.

In an affidavit filed by O’Halloran, he states that the allegations against him by Ames and Young are “unsubstantiated, untrue and highly prejudicial”.