Cuban national, Yuri Garcia Dominguez and his Guyanese wife Ateeka Ishmael are now being accused of running a major pyramid scheme. The couple were previously accused of running a Ponzi scheme and are currently before the courts with over 80 charges of fraud. The couple are directors of an investment company, Accelerated Capital Firm Inc.
According to the Guyana Police Force Dominguez and his wife solicited millions of dollars from hundreds of unsuspecting Guyanese who were enticed by extraordinary returns of approximately 40%. Investors were also encouraged to enlist additional investors on a 10% commission basis.
The company was charged for operating without a license from the Guyana Securities Council and running a pyramid scheme. One of the lawyers representing Dominguez and his wife appeared on behalf of the couple before Magistrate Fanayo Azore at the Vigilance Magistrate Court on Friday.
“They both pled not guilty to the charges and were placed on 25,000 dollars each on each charge,” the police said in a statement.
The matter is adjourned to November 02, 2020.
The Special Organized Crime Unit (SOCU) on Wednesday seized a number of borrowed computers and phones from Dominguez. The company two days before began repaying 17,000 investors their capital investments. As a result of the seizure the repayment process has grinded to a halt. Dominguez at a press briefing on Thursday said only 27 persons were repaid so far.
The company at the beginning of October ceased all operations until it can have a licence to operate in Guyana.
