Jagdeo alerts populace as Ponzi Scheme mastermind returns, attempts to defraud more people

A wanted bulletin was issued on Wednesday for Yuri Garcia Dominguez in connection with a ‘Ponzi Scheme’ he is reportedly operating in Guyana.

According to the Guyana Police Force (GPF), he is wanted for 58 fraud charges. These charges are among 150 charges faced by Dominguez and his wife Ateeka Ishmael for defrauding persons between the period August 27, 2020 and September 10, 2021.

During his weekly press conference on Thursday, Vice President Dr Bharrat Jagdeo said the alleged fraudster who fled the country, has seemingly returned, and is continuing his illegality.

“I got a call saying…he is back at it again. I don’t know how the man is back in the country and the police looking for him,” Jagdeo revealed. He noted that the call came from a Member of Parliament from the Opposition.

Jagdeo who hails from Unity on the East Coast of Demerara (ECD) said Dominguez reportedly visited that community to lure more people to invest in his scheme. Jagdeo said he even convinced some that they will retrieve monies lost in 2020-2021.

“This crook, this fraudster rip people off…several elderly people and others, he told them if they invest more money with him, they can get back the money that they lost, that he has this money in some crypto scheme and all sorts of fraudulent talk,” the Vice President said as he questioned those who again invested with the accused.

“You were warned about it. Why would you put your money with fraudsters?” he questioned.

The Vice President urged people who are approached to partake in such investment schemes to call the police.

“This is a crook…anybody associated with him comes to you, call the police, go to the police now and let’s get them locked up,” he urged.

Dominguez operated the scheme under the company name – Accelerated Capital Firm Inc (ACFI).

Following initial revelations of the scheme in 2020, some APNU+AFC politicians were implicated in the scheme as “investors.”

According to Jagdeo, Dominguez is again using the company’s name to get clients.

“He’s been telling people that when APNU comes back into office, he is going to get a licence. Well two things will happen, APNU will not come back into office and he’ll go to jail,” Jagdeo said.

Dominguez was seeking a license from the Guyana Securities Council to to conduct financial operations.

On this note, he called on the political opposition to distance themselves from the fraudster unless they are in support of his actions.

“APNU, outside of politics, they need to disassociate themselves from this man unless they endorse it,” the vice president said.