Wed | Aug 16, 2017

Cops seek World Wise operators

Published:Tuesday | March 26, 2013 | 3:00 AM

Nedburn Thaffe, Gleaner Writer

The Jamaican police are seeking the help of their international partners to locate operators of the failed investment scheme, World Wise Partners, who Director of Public Prosecutions (DPP) Paula Llewellyn says must face fraud charges.

Deputy Superintendent of Police at the Fraud Squad Unit, Dwight Daley, who updated The Gleaner on the status of the investigation yesterday, said the fact that operators currently reside outside the country was hampering efforts to make speedy arrests.

"We have information where they are, and we are working closely with our international partners to see if they can assist us in locating their exact location to get them back into our jurisdiction so that they can be charged.

"I don't want to put a timeline on it because there are things we have to do to get help from external agencies, so it wouldn't be wise to say by the end of next month, or so. We are doing everything we can to get them back here as soon as possible," Daley said.

The deputy superintendent, who was careful about divulging too much information out of fear of jeopardising the investigation, disclosed that the police had identified two persons as the directors of World Wise Partners.

"We don't want to alert these persons. We are preparing warrants for their arrests, and we are in communication with our international partners," he added.

Dpp ruling

Following investigations by the Police Fraud Squad, Llewellyn recently ruled that charges be laid against World Wise Partners operators.

The charges that are to be laid against the operators include operating an unlicensed securities business contrary to Section 7 of the Securities Act; operating as unlicensed investment advisers contrary to Section 8 of the Securities Act; and fraudulently inducing persons to deal in securities contrary to Section 47 (a) of the Securities Act.

nedburn.thaffe@gleanerjm.com