GPF rejects `no bank account’ claim
Dominguez and his wife, ACFI Director, Ateeka Ishmael
Dominguez and his wife, ACFI Director, Ateeka Ishmael

-says all facilities were provided to Ponzi schemers

 

By Clestine Juan
THE Guyana Police Force on Wednesday said that it had made every effort to assist alleged Ponzi schemer Yuri Garcia-Dominguez with access to a local bank account and other facilities, to transfer the necessary funds needed to initiate reimbursement to the persons he and his wife are accused of duping.
The force made this revelation in a press statement in response to claims made by one of the man’s lawyers, Dexter Todd.
Todd, among other things, had told the media during a press conference on Tuesday that his client, a Cuban, was never provided with a bank account.
“The GPF notes Mr. Todd’s statement that a bank account was never provided for Mr. Garcia-Dominguez for the transfer of funds to initiate reimbursements to persons who signed contracts with Accelerated Capital Firm Inc (ACFI), and hereby categorically rejects this false contention,” the police said.
In fact, the police stated that on September 4, 2020, an account was opened at a local bank, Demerara Bank Ltd., under the name Accelerated Capital Firm Inc., with both Garcia-Dominguez and his wife, Ateeka Ishmael listed as signatories. Ishmael, a Guyanese by birth, is jointly charged with her husband. The couple, both of whom are associated with Accelerated Capital Firm Inc. (ACFI), have been accused of duping some 17, 000 persons. On Monday they approached the High Court seeking a judicial review of the more that 70 fraud charges which were laid against them by the police.
Further, the force in its statement said every effort was made to provide the accused with the necessary facilities to facilitate the transfer of money to that bank account and the lead member of his legal team was aware of this.

“On September 5, 2020, Garcia-Dominguez requested that a computer with internet connection be provided to facilitate him for use while in prison to process the transfer of funds to the Demerara Bank account. In conjunction with prison authorities, the police facilitated the use of a computer with internet connection for Mr. Garcia-Dominguez. At the said time, Mr. Glen Hanoman, the senior and lead attorney among those lawyers representing the couple, was made aware of this arrangement. Mr. Hanoman was also made aware of the local bank account which was opened to facilitate the transfer of funds,” the police said.
It was explained that when the accused was given a computer with internet access in prison, he claimed that it was not convenient to conduct his transactions in the environment of the prison. He then requested access to a computer with internet in a more convenient location.
The police said that in order to facilitate this request during the period September 7-11, 2020, the force in collaboration with prison authorities, transported the accused to the Criminal Investigations Department (CID) headquarters at Eve Leary, Georgetown, where he interacted with members of the Fraud and Cyber Crime Units.
While there, the statement said Garcia-Dominguez was given access to a computer and internet to conduct the transactions necessary to transfer monies into the Demerara Bank account.

According to the police, the accused again claimed he was unable to conduct the transactions and requested the use of his cellular phone which was being kept in police custody while he was in prison.
“Mr. Garcia-Dominguez was given the use of his cellphone under close police supervision. It was at this stage that Mr. Garcia-Dominguez informed the police that he was instructed by counsel Mr. Todd not to conduct any transactions unless the police promised to withdraw the current charges he is facing,” the statement said.
The police then informed Garcia-Dominguez that such action could not be taken and that such a decision can be made only by the Office of the Director of Public Prosecutions.

The police said too that it notes that separate bail applications, one for Garcia-Dominguez and another for Ms. Ishmael, were made by counsel representing the couple to the High Court before Justice Sandil Kissoon and Justice Simone Morris-Ramlall, on September 14, 2020, and bail was refused.
The police are still actively investigating the couple.

Todd had told the media that his client was not provided access to an account which the government had opened at a local commercial bank, so as to enable his client to transfer money.
According to the attorney, his client was not provided with any computer while in prison. It was explained that last week he was transported to the computer room at Criminal Investigation Department headquarters, Eve Leary, over three days, but was not given the opportunity to use any of the systems.
The couple has so far made a total of nine court appearances at the Georgetown, Sparendaam and Vigilance Magistrate’s Courts and on each occasion they were asked to post varying amounts of bail, which to date stands at a whopping $29.4M.
The last set of charges – seven in total – were read to the couple on Monday at the Georgetown Magistrate’s Court by Magistrate Sherdel Issacs-Marcus.They were not required to plead to the joint charges and were granted $2.1M bail each. Those matters were adjourned to October 5.
Based on the information provided, thousands of Guyanese have collectively invested approximately US$20 million in the company, but never saw any returns as was promised.
The duo was first held by the police in early August following an investigation into widespread rumours that they were running a “Ponzi Scheme.”

The couple are alleged to have been operating their investment company here in Guyana from as far back as 2017 without the required licence from the Guyana Securities Council (GSC).
ACFI has been attributing its failure to remit refunds to clients to the absence of a bank account. The company has claimed that several local commercial banks had closed whatever accounts they had held with them.

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