Georgetown: Almost 17,000 Guyanese who invested millions of dollars with Accelerated Capital Firm Inc will be repaid their capital investment as the company plans to cease all operations in Guyana until it is granted a licence to operate.
Cuban national Yuri Garcia Dominguez, who is accused of operating the major Ponzi scheme is expected to begin repayments from October 12, 2020.
Dominguez and his Guyanese wife, Ateeka Ishmael are currently before the court for over 80 charges of obtaining monies by false pretense.
The couple were finally granted $30M bail and released on September 25 after spending over a month in prison. Dominguez said the complaints brought against him and his wife are not true as he maintained his innocence.
“Accelerated Capital Firm are ready to resume back payments after a 36 days halt…on the 12th of this month we will resume the first 100 people to be paid,” Dominguez said in the presence of his lawyer Dexter Todd on Saturday during a press conference.
The payments will be done in structured manner under strict COVID-19 guidelines given the amount of persons that have to be repaid.
Dominguez said a bank account was also set up at Demerara Bank through the Government to facilitate payments.
Attorney Dexter Todd said the company will be ceasing all operations and cancelling all contracts with investors until it can acquire a license to operate in Guyana.
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