Ponzi scheme accused remanded to prison on conspiracy charges
The two representatives from Accelerated Capital Firm Inc. (ACFI), a company which is alleged to have operated a Ponzi scheme here, were yesterday remanded to prison on conspiracy charges.
Yuri Garcia Dominguez, a 34-year-old Cuban national, and his wife, Ateeka Ishmael, 32, both of Track A, Coldingen, East Coast Demerara, yesterday appeared before two Magistrate’s Courts where they were faced with 19 charges of conspiring with other persons to obtain monies by false pretence.
Magistrate Melissa Mittelholzer, attached to the Vigilance Magistrate’s Court, granted the two defendants bail in the sum of $3,900,000 on 13 of the charges.
They are to make their next appearance on September 18.
However, when the couple appeared before Magistrate Alisha George at the Sparendaam Magistrate’s Court, they were refused bail on the other 6 charges.
They were remanded to prison until September 21 when the matter will be called again.
The couple were represented by attorneys- at- law, Dexter Todd and Glen Hanoman.
Todd in a comment to Stabroek News, said that the matters were private in nature. He contended that what the state has done was to impose itself as a third party to a private contract.
He said that he has in his possession a document which was written to Hanoman by Attorney General, Anil Nandlall indicating that the state will facilitate an account being reopened for his clients to facilitate the movement of monies from accounts overseas to the local bank. However, to date, that account has not been opened, while the police remain silent on that issue, he added.
The attorney also said that some persons have taken to social media with misleading figures that are not reflected in the agreement. He opined that persons were attempting to exploit a bad situation.
Meanwhile, around 150 persons were seen gathered outside of the Vigilance Magistrate’s Court with placards supporting the company.
In unity they chanted, “Grant Yuri bail”, and “free Yuri.”
Stabroek News was reliably informed that the duo is expected to face additional charges on Monday.
Dominguez and Ishmael were taken into police custody last Thursday for questioning amid growing complaints from persons who had subscribed to the scheme.
The Guyana Police Force in a statement had said that they were detained as part of an ongoing investigation of alleged fraud.
They have been accused of operating a Ponzi scheme with approximately 17,000 Guyanese having lost hundreds of millions of dollars after investing with the unlicensed company.
Up to Wednesday, Police Crime Chief Wendell Blanhum said that the police had obtained a total of sixty-nine statements from investors who reached out to the Criminal Investigation Department (CID).
These individuals had seventy-seven transactions amounting to $ 135M, Blanhum said.