Alleged Ponzi scheme: Couple no-show at court after being slapped with 60 more charges
The Guyana Police Force has instituted 60 new fraud charges against Cuban National Yuri Garcia and his Guyanese wife Ateeka Ishmael over the Ponzi Scheme they operated.
The couple was scheduled to be arraigned on Tuesday for the offence of Conspiracy to Defraud, allegedly committed on victims of a Ponzi scheme. However, both suspects failed to appear at the Sparendaam Magistrate’s Court to answer the charges.
Their lawyer, Attorney Dexter Todd, produced two medical certificates, on their behalf, to the police investigators which purport to show that they have both tested positive for the COVID-19 virus.
But according to a statement from the Police Force, a perusal of the medical certificates by investigators has raised the suspicion that they may be bogus documents.
“Consequently, the police have launched an investigation to determine the authenticity of the medical certificates,’ the police said.
Dominquez and Ishmael were first arrested in August of last year. They are currently facing close to 100 charges for obtaining monies by false pretence; operating a Pyramid Scheme and operating a financial institution without the requisite registration.
The couple is currently out on over $30 million bail.
In October 2020, the couple’s lawyer said that his clients will commence the process of repaying investors. But to date, only $3 million of the $4 billion has been returned.
Cuban national Yuri Garcia and his wife Ateeka Ishmael
Dominquez and his wife are the principals of Accelerated Capital Firm Incorporated. Sometime last year, the company ceased all operations in Guyana after authorities discovered that it was operating without a license from the Guyana Securities Council.
The company claimed that it was not aware that it needed a license to operate in Guyana since it already has an international license to trade from the International Monetary Fund.
The Anti-Money Laundering and Countering the Financing of Terrorism Act prohibits businesses from operating as financial institutions without the necessary registration for regulation and supervision by the Regulatory Authorities, the Financial Intelligence Unit, and Guyana Securities Council.
The couple has maintained their innocence on all the charges levelled against them.
Meanwhile, only last month, the police arrested and charged two persons who were identified as agents/marketers in the Ponzi scheme.
Aubrey Norton and Martina Seepersaud had reportedly accrued millions of dollars through this illegal scheme and they used the said criminal proceed to purchase properties.
It is alleged that on June 8, 2020, at Coldingen, East Coast Demerara, they entered into an agreement of sale and purchase with vendors to purchase property situated at Lot 36 First Street, Montrose, East Coast Demerara for the sum of $60 million.
They transferred the sum of $50 million in cash as a down payment with a balance of $10 million on the passing of the transport.
Norton and Seepersaud also allegedly transferred the sum of $53 million to vendors, being part payment for the purchase of property, being Block XIV Parcel 86 Fourth Street, La Bonne Intention, East Coast Demerara.
Norton and Seepersaud are accused of transferring the said sums, knowing or having reasons to believe that the said sums are the proceed of crime as they had no legitimate source of income that could have generated the funds acquired to enable them to purchase these properties. (G8)
