Yuri ‘Ponzi scheme’ agents slapped with money laundering charges
Agents of the Accelerated Capital Firm Inc. pyramid scheme, Aubrey Norton and Martina Seepersaud, were charged with offences of money laundering after they accrued millions of dollars through this illegal scheme and they used the sum to purchase properties.
This was related in a press release from the Special Organised Crime Unit (SOCU), which detailed that the duo was charged with the offences of money laundering, in accordance with Section 3 (1)(a) of the Anti-Money Laundering and Countering the Financing of Terrorism Act.
On Thursday, Norton and Seepersaud appeared at the Vigilance Magistrate’s Court, on the East Coast of Demerara (ECD), where the first charge was read to them.
According to the SOCU release, they were not required to enter a plea and were placed on $300,000 bail each with the condition that they lodge their respective passports and report every Friday to SOCU. The matter was also adjourned to July 8, 2021.
Subsequently, Norton and Seepersaud appeared at the Sparendaam Magistrate’s Court, ECD, where the second charge of money laundering was read to them. Again, they were not required to enter a plea and were placed on $200,000 bail each. This matter was adjourned to July 22, 2021.
Importantly, the press release highlighted that these are the first-ever money laundering charges to be instituted by SOCU since its establishment in 2014.
Head of SOCU, Senior Superintendent, Fazil Karimbaksh, in the SOCU release, confirmed the charges being laid by SOCU and indicated that these investigations were ongoing ever since the Pyramid selling scheme, operated by “Accelerated Capital Inc.” was reported to the police.
According to the information provided, Norton and Seepersaud were agents of Yuri Garcia Dominguez and Akeeta Ishmael, who allegedly defrauded thousands of persons through their company, Accelerated Capital Firm Inc.
It was reported that on June 8, 2020, the duo entered into an agreement of sale and purchase with vendors to purchase property situated at Lot 36 First Street, Montrose, ECD, for the sum of $60 million. The SOCU release noted that they transferred the $50 million by paying the said sum in cash as a down payment and left a balance of $10 million to be paid on the passing of the transport of the property.
Additionally, the release said that Norton and Seepersaud also transferred the sum of $53.5 million to vendors as partial payment for the purchase of property at Block XIV Parcel 86 Fourth Street, La Bonne Intention (LBI), ECD.
“Aubrey Norton and Martina Seepersaud, transferred the said sums, knowing or having reasons to believe that the said sums are the (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 release stated.
These properties, it was noted, were later resold to purchasers in the United States.