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Several Ponzi Scheme agents still have close to $900 million in cash- SOCU alerted

Several Ponzi Scheme agents still have close to $900 million in cash- SOCU alerted

Yuri Garcia enters a car after being released from Prison last year 

More than twenty-five major agents who collected hundreds of millions in cash from investors on behalf of Accelerated Capital Firm have reportedly held onto more than nine hundred million in reserves which were initially set aside to repay investors should the company’s trading operation ever go belly-up.

This information was shared on Tuesday with detectives of the Special Organised Crime Unit by the Principle of ACF, Yuri Garcia. What was made clear is that when the initial funds were invested by the investors, the returns with profits went to ACF.

ACF then turned those monies over to the agents, representing their personal commissions for bringing the investors. They were also given fifty percent of that amount to be kept at reserves, it was the reserves that were to be used in the event that the company ended up in the very situation it found itself in back in 2020 where its operations were halted.

BIG Smith News Watch has been told that at that time, agents were the ones who should have been tapping into the reserves which they had in their possession to initiate repayment of the capital investments to those who invested. This publication was presented with a list of 26 agents who collected monies for ACF.

The names of the agents, the dates they began serving as agents for ACF, the amount of monies they collected from ACF after it returned from trade, the amount they were to keep for themselves as their personal commissions and the amount of reserves they continue to have in their possession which should be paid out to investors are all stated below in a table in this article.

This Publication learnt that SOCU was told that after Yuri and his wife were arrested by the police, some persons continued to put their monies into the company while others stopped. Yuri indicated to detectives that he kept assuring persons that they would have had their monies back since he was aware of and was speaking from the standpoint that he knew his agents were each holding reserves which were meant to repay investors should the company ever needed to.

Asked why he never made this clear, Yuri stated that he was seeking to protect his company, agents and investors and expected that his agents would have understood the importance of ensuring that all those who were affected would be compensated through the return of their capital investments.

It was noted that a number of the agents have been using the incarceration of Yuri Garcia and his wife, as a means not to repay the investors and also had investors believing that every cent of their monies was with the principles of ACF. We were told that several of the agents after seeing that the police were only focusing on Yuri Garcia and his wife, began to liquidate the monies they had in their possession, that is to say, their personal commissions and the reserves which they were not to touch in the first place.

The agents it was told, were allowed to hold those large sums given that the ACF could not have banked all the money and as such, agents were using their personal accounts and other means to hold the monies on behalf of the company.

When Yuri and his wife were eventually granted bail in relation to their alleged offenses, they began reaching out to agents to access the reserves in order to repay investors but it was at that point that investors began making promises to make the monies available but have been refusing to do so. It soon became evident that they no longer had those monies in their possession.

That has since resulted in those who invested being unable to have their monies back. While some of the agents have repaid those who invested with ACF through them, the agents who had huge investments placed through them and who held large amounts of reserves in their possession have not be been paying up those monies.

Over the last few weeks, dozens of investors have been reaching out to BIG Smith News Watch to state that they have been unable to receive their capital investment refunds. They have been complaining that when they reach out to ACF their messages are not being acknowledged and calls are also not being returned.

Agent Became Agent Total monies collected Agent’s Commission Reserve (To repay investors)
Aubrey Oct, 13, 2019 $ 100, 000, 000 $50, 000, 000 $50, 000, 000
Martina Oct, 14, 2019 $ 116, 000, 000 $58, 000, 000 $58, 233, 000
Dhanraj Nov, 14, 2019 $ 146, 300, 000 $73, 150, 000 $73, 000, 000
Parbatti Nov, 13, 2019 $ 279, 000, 000 $139, 500, 000 $139, 720, 000
Indira Nov, 22, 2019 $ 173,858, 400 $86, 929, 200 $86, 929, 200
Shanella Nov 19, 2019 $ 42, 244, 200 $21, 122, 100 $21, 122, 100
Ronald Nov, 11, 2019 $ 29, 838, 600 $14, 919, 300 $14, 919, 300
Christina Nov, 19, 2019 $ 37, 013, 200 $18, 506, 600 $18, 506, 600
Doonauth Dec, 17, 2019 $ 176, 039, 400 $88, 019, 700 $88, 019, 700
Mohindar Dec, 17, 2019 $ 28, 600, 000 $14, 300, 000 $14, 300, 000
Kamalpati Sept, 03, 2019 $ 94, 050, 000 $47, 025, 000 $47, 025, 000
Elizabeth Sept, 16, 2019 $ 33, 640, 000 $16, 820, 000 $16, 582, 000
Amit Sept, 16, 2019 $ 37, 603, 200 $18, 801, 600 $18, 801, 600
Dameyon Oct, 03, 2019 $ 45, 894, 800 $22, 947, 400 $22, 947, 400
Ryan Oct, 18, 2019 $ 16, 412, 200 $8, 206, 100 $8, 206, 000
Zamual Nov, 22, 2019 $ 34, 782, 000 $17, 391, 000 $17, 391, 000
Leelawatti Sept, 07, 2019 $ 33, 293, 400 $16, 646, 700 $16, 646, 700
Anand Dec, 13, 2019 $ 55, 276, 200 $24, 638, 100 $27, 638, 100
Kemo Aug, 21, 2019 $ 71, 604, 000 $35, 802, 200 $35, 802, 000
Rabindra Nov, 29, 2019 $ 25, 563, 600 $12, 781, 800 $12, 781, 800
Carol Aug, 12, 2019 $ 25, 351, 200 $12, 675, 600 $12, 675, 600
Elijh  Jul, 24, 2019 $ 15, 438, 000 $7, 719, 000 $7, 719, 000
Arti Oct, 14, 2019 $ 49, 424, 800 $24, 712, 400 $24, 712, 400
Jannifer Nov, 19, 2019 $ 34, 879, 600 $17, 439, 800 $17, 439, 800
Bibi Sept, 17, 2019 $ 18, 390, 000 $9, 195, 000 $9, 195, 000
Devika Oct, 17, 2019 $17, 729, 600 $8, 864, 800 $8, 864, 800

The above-named persons are reportedly holding onto monies that should have been returned in order to repay investors in cases of losses in order to satisfy clients. The Total monies collected as identified in the chart represent funds which delivered in cash to the agents from the time they became agents to the time Yuri Garcia and his wife became of interest to the police.