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Mandeville man arrested for operating Ponzi scheme
2013-08-21 09:31:19 | (0 Comments)
Detectives from the Fraud Squad have arrested and charged one man in connection with what they believe is an illegal investment scheme.
Forty-eight-year-old John Cameron of Mandeville, Manchester, is to appear in court today to answer to the charges of fraudulently inducing to invest money, engaging in the business of trading without a license and operating as a securities dealer without a license.
Investigators say Cameron fraudulently solicited money from unsuspecting persons for investment.
They say a report was made after he failed to pay out returns on investors’ deposit.
The Police are appealing to other persons who have invested in the Ponzi scheme to make a report at the nearest Police Station or visit the Fraud Squad at 34 Duke Street, Kingston.
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Source: The Gleaner/Power 106 News
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