By Noel Thompson,
Freelance Writer
WESTERN BUREAU:
THE POLICE have ordered the head of the Montego Bay branch of a controversial financial partner plan to pay back hundreds of thousands of dollars which it has collected from contributors to the scheme.
This was after more than 50 people converged on the Barnett Street police station, Montego Bay, on Friday demanding police help to get back their money, stating they had learnt that the "Friends in Partnership" plan was no longer in operation.
Confusion reigned on the police station compound as the people demanded police intervention and Police Area One Fraud Squad detectives were called in to investigate reports that contributors were unable to collect their funds.
The Montego Bay offices of Friends in Partnership, 45 St. James Street, were closed without prior notice to the public. Angry contributors said they turned up at the offices to pay their dues, as well as to collect their lump sum and found the doors locked.
Det. Inspector Hervin Stennett, head of the Police Area One Fraud Squad, told The Gleaner it was not likely that any of the directors of Friends in Partnerships could be criminally charged "at this time".
He said there was a dispute among the Montego Bay operators and their Spanish Town-based counterparts but that since restitution had been promised, they were being given time to make good their undertaking.
Steve Beckford, head of the Montego Bay branch of the partnership, tried to reassure the protesters on Friday that they would be repaid, but he was heckled by the angry crowd. He promised to have the funds reimbursed by October 26, after being instructed by the police to make restitution.
Under the "partner scheme" clients were asked to pay an initial $1,600 or, collaborating with two others, to contribute $600 each to secure membership in the scheme. After eight weeks each person would receive an initial $600 and within another eight weeks, another $5,000 would be paid to them. At the end of a third eight-week period, they would be paid $22,000 and then a subsequent payment of $225,000.
However, this has not materialised for many of the participants as they said money had not come forward as planned. The Montego Bay agents said they felt compelled to close shop after repeated threats.
Friends in Partnership has eight directors including several professionals and members of the Seventh-Day Adventist denomination.
Similar scheme
Some members of a similar scheme, "The Revolving Partner Plan" (RPP), have raised concerns about the plan which started in Mandeville and spread to Montego Bay three months ago. The RPP clients have expressed fear that they might be faced with a similar situation.
This plan requires an investor to put in $2,000 which he would get back within six weeks, and after another six weeks, get $10,000 every month for life. The individual could also opt to start off with $6,000, which would make him eligible for an initial $3,000 draw and a subsequent $40,000 monthly for life.
According to Juliet England, a resident of Flankers, St. James she has put $2,000 in the RPP and is expecting to get her $10,000 in return by October 17.
On September 17, The Sunday Gleaner quoted Earl Melhado, head of the Securities Commission, as describing the programme as "A fool's paradise". The promise of a quick, lucrative and continuous reward could not be borne out, he said, adding, "It is a dangerous scheme".
