DORIS DALE, a higgler and pyramid scheme operator who ran the collapsed Quick Cash Partner Plan in Lucea, Hanover, was convicted in the Corporate Area Criminal Court Tuesday on three counts of fraudulent conversion amounting to $340,000.
Resident Magistrate Kissock Laing has put off sentencing until April 6.
Witnesses from two financial institutions had testified that Dale had deposited more than $50 million as investment. One witness said that when Dale invested money at her company in Montego Bay, St. James, it was returned to Dale because of the company's concern about the partner plan.
Dale said in court that subscribers to the scheme had failed to follow the rules, which she said led to the collapse of the partner plan.
Last year Dale pleaded guilty to breaches of the Financial Institutions Act and was fined $3 million or six months imprisonment. The guilty plea was entered against Dale and her company for receiving deposits without a securities licence.
Dale, who went on the run in April 2001 when depositors in her scheme rioted in Lucea, gave herself up to the police a month later. She was charged with several counts of fraudulent conversion but only three of the complainants turned up to testify at the trial.
