Warning: Ponzi schemes on the rise again

A re-emergence of  unregulated investment schemes which have been trying to solicit business from local investors has caught the attention of  the police with initial checks being carried out into their operations.

The matter is being handled by the Counter-Terrorism and Organized Crime Investigation Branch, C-TOC. Two weeks ago the Financial Services Commission, FSC, issued an advisory cautioning investors about solicitations by International Financial Services Limited which it said is not licensed to sell securities in Jamaica.

The spotlight is also on another entity, World Ventures Holdings. Head of  C-TOC, Assistant Commissioner Devon Watkis, last night said the police have taken preemptive steps.   

The FSC says members of  the public should verify the registration of  any entity or individual offering an investment opportunity by checking the Commission's website. 

And ACP Watkis says despite the dangers of  investing in unregulated investment schemes persons are still being lured by the high returns being promised.

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