The Private Sector Organisation of Jamaica and the Jamaica Chamber of Commerce have urged investors in high-risk investment schemes to reconsider their financial decision and heed the advice of the Government, regulators and commentators.

In a statement issued yesterday, the private sector groups expressed "grave concern about the current controversy wit investment schemes and, by extension, the safety of these investments, many of which represent the life savings of investors".

The organisations also charged the Government to act quickly to ensure that these investment schemes comply with the law, noting that the issue was not adequately addressed by the previous administration.

" … It is now imperative that the current Government of Jamaica act quickly and decisively to ensure that these entities are operating within the laws of Jamaica, and we urge them to do so, " the statement said.

Both organisations also called on the owners and operators of al investment schemes to immediately provide verifiable information of their assets and finances so that investors can be assured of the safety of their money.

"Word of mouth is simply not good enough when the life savings of people are at stake."

Popular investment schemes such as Cash Plus and Olint Corporation have been at loggerheads with the Government and local banks over the existence of their operations. The Financial Services Commission has also served 'cease and desist' orders on the entities.