Ponzi scheme – the latest round

Jun 03, 2021 Editorial

Kaieteur News – We at this paper have always suspected that this was going to be the proverbial royal run around. We have said so repeatedly and here we are again, with fleeced Guyanese investors being passed from hand to hand and kicked from pillar to post. Many fervent promises have been made, and the more we study this, the more it is confirmed that none has been kept. Not one promise has been honoured.
Instead, what longsuffering Guyanese investors, long out of pocket and struggling to be made whole for their trust and troubles today rather than tomorrow, have been faced with is this unending soap opera, with new and newer episodes almost daily, and still without them getting anywhere. Where the local investors want to arrive is that place where the money invested, mismanaged and owed is handed over, so that they can then turn their backs from this shabbiest of experiences in their investing life, and move on with some hard lessons learned.
But the only thing that local investors are learning, is how to absorb more and more delays, deeper and deeper disappointment that this sorry affair keeps dragging on and on, with no end in sight. The courts have spoken and so have the lawyers and the Guyana Police Force. Yet this dirty and costly business negatively impacting thousands of Guyanese somehow continues to evade a satisfactory resolution; one that is timely, meaningful where it counts (in the pocket), and final. They all want to be done with this embarrassing and nerve wracking and draining matter.
Nonetheless, they seem to be powerless given that it is one tricky, time consuming, and cunning delaying tactic that is brought to bear, and which keeps them hanging on thin air. The great fear is, that they will wake up one day to the news, that there is nothing, everybody has disappeared, and that it is over. Other than for their financial loss and pain, it is over. That does not seem so farfetched, so out of place, since nothing is adding up, and no one can be trusted to come clean and tell the whole story as to what is really going on, what is actually going to come down, and how this will settle, if it ever does.
In our Monday May 24 edition, we informed the public via our front-page headline “Agents withholding repayments to investors – Alleged Ponzi schemer Yuri.” This is more than frustrating and disappointing for the jilted again Guyanese investors. It has to be severely distressing, and continuously so, since hopes of repayment are looking bleaker and bleaker. Any confidence that repayment will definitely happen, has to be at a very low ebb at this time. After all these startups, pushbacks, and setbacks, it cannot be otherwise, since things do not appear to be on the up and up.
Where repayment was promised with much publicity and repeatedly, there has been little by way of actions in support of those promises, which look more and more hollow, with each new development. For, here it is, and rather suddenly, that the finger is now pointed at the offending and foot-dragging parties being these “agents” that are “withholding repayments.” Something does not ring right or true with this one at this time. Somehow, the only ringing sound that comes is that something like this has been heard before, in one form or another, from one of the involved (or surrounding) parties or the next. And they all come to rest at the same sickening place.
That is, it is of something that is tricky and falls short of expectations, that leaves hanging on a string that threatens to snap. Something that is soaked through with intentions of shortchanging. Something that adds to the piled up suspicions and conclusions that, when this is finally over, there are some Guyanese investors in the mix, highly likely many of them, who will be cheated and left with nothing but their burning anger and bitterness.
The continually deceived Guyanese investors have neither interest nor time anymore in these concoctions about mysterious agents and the like. All they want is their money back, and the peace of mind that comes from the harsh lessons they learned for their hard-earned money.

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