CASTRIES, St. Lucia, CMC—Police say they have detained several people following an islandwide raid earlier this week, conducted in collaboration with the Financial Intelligence Authority (FIA), as they seek to uncover those behind the Creators Alliance investment scheme.
The police have not disclosed the identities of those detained during the raid.
The authorities said that the operation marked the culmination of months of investigations by an inter-agency task force comprising the FIA, the Major Crime Unit of the Royal St. Lucia Police Force (RSLPF), and the Financial Services Regulatory Authority (FSRA), into the suspected pyramid investment scheme.
The scheme is believed to have been operating both locally and regionally from as early as June 2024. It ended abruptly in March of this year, resulting in substantial financial losses to thousands of investors here and across the region.
The authorities are reminding the public to exercise prudence and avoid investing in unregulated or suspected pyramid or “Ponzi” schemes, which generally result in financial loss to the investors.
They also remind the public of section 126 of the Consumer Protection Act, which makes participation in a “pyramid selling scheme” a criminal offense punishable by fines of up to EC$5000 (One EC dollar = 0.37 cents) and/or imprisonment for up to two years.
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