Pyramid scheme agents slapped with money laundering charges

The Special Organised Crime Unit (SOCU) has charged two agents/marketers of a major pyramid scheme ran by Cuban national Yuri Garcia Dominguez and his wife, Akeeta Ishmael with money laundering. Through Accelerated Capital Firm Inc, the couple allegedly fleeced hundreds of Guyanese of millions of dollars.
As agents/marketers of the pyramid scheme, Aubrey Norton and Martina Seepersaud accrued millions of dollars which they used to purchase properties. They appeared at the Vigilance and Sparendaam Magistrate’s Courts to answer two counts of money laundering on Thursday.
The duo was not required to plead to the indictable charges. They were each ordered to post $500,000 bail on the condition that they lodge their passports and report to SOCU weekly. Norton and Seepersaud will return to court later this month. According a release from SOCU, they lived at Lot 242 Tract A, Coldingen, East Coast Demerara with Dominguez and his wife.

On June 8, they entered into an agreement of sale and purchase with vendors to purchase a property situated at Lot 6 First Street, Montrose, East Coast Demerara for $60,000,000. SOCU said they transferred $50,000,000 as a down payment with the balance to be paid on the passing of the transport.

Norton and Seepersaud also transferred $53, 500,000 to vendors, being part payment for the purchase of property at Block XIV Parcel 86 Fourth Street, La Bonne Intention, East Coast Demerara. SOCU said that they transferred the monies knowing or having reasons to believe that they were proceeds of crime as they had no legitimate source of income that could have generated the funds acquired to enable them to purchase these properties.

“The properties were bought from illegitimate proceeds from the pyramid selling scheme operated by them and Yuri Garcia through Accelerated Capital Firm Inc. The properties were later resold to purchasers in the USA,” the SOCU release added.

1st money laundering charges
The press statement noted that this was the first-ever money laundering charges to be instituted since the SOCU was established back in 2014.
Meanwhile, the Head of SOCU, Senior Superintendent Fazil Karimbaksh indicated that these investigations were ongoing ever since the pyramid scheme was reported to the Police.

Superintendent Karimbaksh stressed that the Unit would continue to execute its mandate without fear, favour, or affection according to law. Through Accelerated Capital, the couple enticed Guyanese by offering extraordinary returns of approximately 40 per cent, while investors were also encouraged to enlist additional investors for a commission of 10 per cent.
Garcia Dominguez and his wife are currently before the court on several charges, including obtaining money by false pretence and running a financial institution without the required licence. With the matters still pending before the courts, they are out on over $30 million bail.