The Special Organized Crime Unit (SOCU) on Wednesday seized a number of borrowed computers and phones from Yuri Garcia Dominguez, who is accused of running a major Ponzi scheme.
Dominguez and his lawyer Dexter Todd at a press briefing on Thursday explained that the seizure has prevented the company – Accelerated Capital Firm Inc. – from repaying investors. The company had only managed to repay 27 of 17,000 investors in the first two days of repayment.
In the initial stage of the investigation against Dominguez and his wife Ateeka Ishmael, the Criminal Investigations Department (CID) seized their original computers and phones. According to Todd, CID is now claiming they don’t have the first set of computers and as a result Dominguez managed to borrow two computers and three phones in order to repay investors.
The repayment procedure began on October 12 but only lasted two days.
SOCU on Thursday also seize the computers and phones of the couple’s two children while they were in online classes. The couple’s birth certificates, marriage certificates, records of investors and other personal documents were also seized. Additionally, Dominguez was further charged by SOCU for running a company without a license and running a pyramid scheme.
“It is very unfortunate what transpired yesterday; there was a lot of misunderstandings based on the payments, the dates and how much was going be repaid,” Dominguez explained. He said the target for each week was to repay at least 215 investors.
“For some reason, the SOCU department believe that we have millions of dollars hidden somewhere else. We had the opportunity to show the funds are out there not in Guyana.
“Everything that is happening does not make sense,” Dominguez stated, claiming that they have been cooperating and transparent with the investigation.
At the beginning of the month, the company ceased all operations until it can acquire a license to operate in Guyana but made a commitment to end all contracts with investors and repay them.
Todd further explained that he was not allowed inside the house while it was being raided for over two hours on Thursday and neither was Dominguez allowed out to speak with him.
“The actions of SOCU was uncalled for, it was unprofessional and all it did was interrupt the repayment of monies to investors,” Todd said.
Dominguez said he has been receiving threatening phone calls towards him and his family and denied that he is involved in money laundering.
The only way he can keep paying people back is to continue running a ponzi…….can you imagine the embarrassment of the Government overseeing 200 persons getting money back at the expense of 10,000 others?
good move by Socu…..see what he has been up to and if it is on the up and up……which is a bit doubtful.