Ponzi scheme accused says will begin repaying clients on Oct 12

Principal of Accelerated Capital Firm Inc (ACFI) Yuri Garcia Dominguez (at left) and his attorney Dexter Todd at the press conference yesterday

Yuri Garcia Dominguez, one of the principals of Accelerated Capital Firm Inc (ACFI), the company which has been at the centre of what is being described as a huge Ponzi scheme, yesterday announced plans to commence repayment of invested capital to 17,000 clients from October 12th since the firm is not licensed to operate here and has been forced to cease all of its operations.

“Accelerated Capital Firm is ready to resume payments back after 36 days (after a halt)  based on a situation everybody knows about…….On the 12th of this month (October) we are going to resume,” Dominguez told a news conference he hosted with his lawyer, Dexter Todd, at Sharon’s Building in Georgetown.

This development came more than one week after Dominguez and his wife, Ateeka Ishmael were released on a total of approximately $30 million bail. They are currently facing close to 80 charges of conspiring with other persons to obtain monies by false pretense.