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Guyana: Family of 10 from Mahaica among those duped in Ponzi scheme

More Guyanese are coming forward with stories on how they lost big after being lured into investments with Accelerated Capital Firm Inc (ACFI) which is now the subject of a major Ponzi scheme investigation here.

The unsuspecting were told that their monies would yield high interest from foreign exchange trading and safe overseas investments. A Ponzi scheme is an investing scam which promises high rates of return with little risk to investors. It bring returns for early investors by acquiring new investors and the longer it runs the newer investors are bilked.

“My family, with about 10 persons, have suffered losses. Only my aunt got back interest on her money and my sister got back the $500,000 she invested without interest but everybody else got nothing,” Mahaica Creek resident Yoganand Seebaran, told Stabroek News in an interview yesterday.

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