Black Immigrant Daily News

Carlos Maldonado, dueño de Business Planning Resources International Corporation (BPRIC), Glorimar Fashions and Tailoring, LLC, Global Business Insurance Agency Inc., y asociado bajo los documentos de incorporación con Pet Card Systems, Inc., y Datavos Corporation, fue sentenciado el lunes, a 11 años y tres meses (135 meses) de prisión federal por fraude de valores y fraude bancario, y se le ordenó cumplir cinco años de libertad supervisada.

“A las víctimas en este caso, como en la mayoría de los casos, se les prometió un increíble retorno de la inversión de su dinero duramente ganado. Lamentablemente, las promesas se basaron en mentiras y fueron aprovechadas por alguien que usó su deseo de un futuro mejor para ganarse su confianza y robarles sus sueños”, dijo el FBI SAC Joseph González en declaraciones escritas.

A Maldonado también se le ordenó pagar 1,986,734.26 dólares en restitución a 46 de sus víctimas.

Maldonado fue acusado de 16 cargos de fraude de valores y fraude bancario el 27 de octubre de 2016. En diciembre de 2019, fue declarado culpable de todos los cargos después de un juicio con jurado. El jurado encontró que, desde aproximadamente el año 2007 hasta el año 2012, Carlos Maldonado junto con varios asociados solicitaron y adquirieron de manera fraudulenta más de 5,000,000 de dólares en nombre de BPRIC de más de 100 personas y otras empresas. Como parte del esquema fraudulento, Maldonado y sus asociados proporcionaron contratos de inversión falsos a las víctimas en Puerto Rico y los Estados Unidos continentales a cambio de su inversión monetaria en sus empresas comerciales falsas.

Durante el juicio, el gobierno presentó cheques, registros bancarios, correos electrónicos, otras pruebas documentales y testimonios de testigos y víctimas que probaron que el acusado hizo o provocó que se hicieran representaciones materialmente falsas y engañosas a los inversores, incluyendo: (i) que las diversas empresas estaban involucrados en funciones comerciales legítimas, que él sabía que no eran ciertas; (ii) no revelar a los inversionistas que sus fondos se utilizarían para comprar y comercializar acciones y materias primas en una cuenta de ScottTrade, Foreex Capital Markets, LLC y otras cuentas comerciales personales, y para los gastos de la familia de Maldonado en lugar de financiar las empresas comerciales falsas ; y (iii) no revelar que los fondos de inversión obtenidos de manera fraudulenta serían utilizados por Maldonado para comprar bienes y servicios en tiendas minoristas, restaurantes y gastar dinero en viajes, alquiler, entretenimiento y pagos de préstamos personales para automóviles.

Luego de la imposición de esta sentencia sustantiva por parte del Juez de Distrito de los Estados Unidos John Woodcock, Juez de Distrito del Distrito de Maine, el Fiscal de los Estados Unidos W. Stephen Muldrow para el Distrito de Puerto Rico enfatizó que “el fraude de inversión puede presentarse de muchas formas, pero su  característica principal es la promesa de un retorno rápido y alto.

Los estafadores, haciéndose pasar por vendedores o empresarios, contactan a personas desprevenidas y les ofrecen oportunidades de inversión aparentemente emocionantes. Las víctimas son atraídas por la promesa de un trato que es “demasiado bueno para ser verdad” porque no es verdad. Queremos recordar a los ciudadanos de Puerto Rico que ninguna inversión está libre de riesgo y que una oferta de alta tasa de retorno siempre significa mayor riesgo.

Antes de invertir, obtenga información por escrito, como un prospecto o informe anual, y tenga cuidado si un vendedor lo presiona para que invierta de inmediato, le promete ganancias rápidas, lo alienta a pedir dinero prestado o cobrar fondos de jubilación para invertir, le dice que escriba información falsa en los formularios de su cuenta, o utiliza palabras como “garantía”, “alto rendimiento” u “oferta limitada”. Tan pronto como sospeche que ha sido objeto de un esquema fraudulento, comuníquese con las autoridades para que podamos procesar a los responsables e intentar recuperar los fondos robados”.

“En el FBI estamos comprometidos a llevar estos casos hasta el final, pero necesitamos que las víctimas se presenten. Si cree que usted o alguien que conoce ha sido víctima de uno de estos esquemas, llame al 787-987-6500 o deje un aviso en línea a través de tips.FBI.gov. Ayúdanos a llevar a estos criminales ante la justicia”, añadió González.

El caso fue procesado por los fiscales federales adjuntos Edward Veronda y Jeanette Collazo, e investigado por el FBI.

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Black Immigrant Daily News

The Barbados Water Authority (BWA) is giving customers who are in the red another one and a half months of amnesty to repay owed monies on their accounts, before taking a direct approach to recover outstanding arrears.

Having tried to exercise leniency over the past 30 months, giving the public the responsibility of honouring all debts to BWA without repercussions for not doing so, the BWA has not seen an acceptable response.

In a statement released today, BWA said that during the last two and a half years, its receivables portfolio has risen by $26 million. “This is unsustainable and has had a negative impact on our operations,” BWA stated.

Therefore, the BWA has promised that it will start seeking to recoup its owed monies now and will encourage all customers with overdue bill balances to visit the Authority’s Pine Headquarters between September 15 and October 31 to make restitution.

BWA General Manager, Keithroy Halliday, explains:

“Following this period of amnesty, the BWA will have no choice but to recommence the disconnection of the water services of customers whose accounts are still in arrears, once no effort has been made to engage the Authority to settle the debt.”

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Black Immigrant Daily News

More than 1,000 primary school students now preparing for the Grade 6 Primary Exit Profile (PEP) examinations next year, have benefited from an initiative valued at over $8.5 million dollars, spearheaded by the Scotiabank Jamaica Foundation (Scotia Foundation).

The full cohort of students currently enrolled in Grade Six at eight primary schools across the island has received book vouchers valued at $5,000, stationery including backpacks and, in some parishes, dental services and supplies from the Foundation’s partners – the Kingston & St Andrew Health Department and Colgate Palmolive.

Yanique Forbes-Patrick, Vice President of Public Affairs and Communications of Scotia Group Jamaica and Director of the Scotia Foundation noted the bank’s renewed commitment to its philanthropic programmes and willingness to support educational and training-based initiatives via the Scotia Foundation.

“Scotiabank is committed to the positive development of our communities and believes that by supporting the education of Jamaican youth, the bank is playing an integral role in helping to secure the financial well-being and independence of future generations,” Forbes-Patrick highlighted. She further shared that the 2022 back-to-school programme is also being hosted in commemoration of the Bank’s 133 years of operation and service to Jamaica.

Scotiabank selected students attending schools located in proximity to its islandwide network of branches including St Aloysius Primary School in Kingston, Corinaldi Primary School and Flankers Primary and Junior High School in Montego Bay, Mandeville Primary & Junior High School in Mandeville, St. Ann’s Bay Primary School, Time and Patience Primary School in Linstead, McAuley Primary School in Spanish Town and the Port Maria Primary School in St. Mary.

Staff volunteers from the Bank also played a key role in organizing and executing the series of back-to-school treats which concluded on September 9.

Responding to the assistance provided for students at the Mandeville Primary School was Howard Salmon, Principal, who said “Our parents and our students are very appreciative of the assistance that is being provided during these challenging times and we will put it to good use.”

Meanwhile, at St Aloysius Primary, Tracey Taffe Thompson, guidance counsellor, spoke about the social and emotional aspects of the initiative saying, “This has allowed them (the students) to see that there are still persons in the community who care about them and want to see them do well.”

Forbes-Patrick acknowledged the difficulties and financial hardships that many families continue to face and pledged the Bank’s support. “During the heights of the pandemic, the Foundation shifted focus to providing support for healthcare and facilitating remote learning opportunities, however, this current initiative signals our physical return to the community and along with our vibrant team of employee volunteers, we intend to dedicate not only financial support but also time and mentorship to help bring out the best in our youth.”

The Scotia Foundation’s back-to-school programme also aligns with the Bank’s global philanthropic focus – ScotiaRISE- aimed at building economic resilience by helping individuals, households, communities, and economies to thrive under a broad range of circumstances.

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Black Immigrant Daily News

The harvesting and cultivation of Jamaica’s first bamboo project are to start in the first quarter of next year.

This is according to founder and chief executive officer of Bamboo Bioproducts International, David Stedeford who gave an update on the project at a function hosted at the British High Commission, recently.

Bamboo Bioproducts will cultivate in excess of 25,000 acres of farmland across the island for the production of the bamboo pulp as part of an approximately US$400 million investment in Jamaica, centred in Westmoreland.

“Our objective is to close the financing of the project at the end of this year so that we can start preparing and planting the land in the first quarter of 2023,” Stedeford disclosed.

Stedeford said that the global financial institution underwriting US$300 million of the project attended the event in Kingston. Also present were investors, both Jamaicans and foreigners, who are participating in the project as shareholders.

Senator Aubyn Hill (left), Minister of Industry, Investment and Commerce shares a moment with Judith Slater (centre), British High Commissioner to Jamaica and David Stedeford, founder and chief executive officer of Bamboo Bioproducts International.

Senator Aubyn Hill, Minister of Industry, Investment and Commerce in welcoming the investment said that the intention is to use this project as a model to build out Jamaica’s bamboo industry.

“The government is very pleased [about this project] and we want to make sure that it is done as quickly as possible. I’m very optimistic about it and the government is committed [to making] this project a success,” he said.

Judith Slater, British High Commissioner to Jamaica who hosted the function said the British High Commission is happy to endorse the project.

“This is a big, bold and exciting project which has been in preparation for a few years and we have helped to get the project to where it is now,” she said.

The British High Commissioner said the project ticks all the right boxes in that it will provide sustainability, inclusion, progression and social responsibility.

The project promises to create jobs in local communities by utilising valuable agricultural land, creating new revenue streams, providing much-needed produce but also in the process of harmonisation of roads and ports, what’s not to like?” she asked.

Diane Edwards, president of JAMPRO, which is the lead facilitator of the project, said the country stands to benefit from the investment.

“The value [of the project] is a huge capital investment. It will probably be one of the biggest projects that Jamaica has ever seen. Number two, the fact that the project is going to be environmentally friendly and that it is going to have a low carbon footprint [is another plus]. It will give small farmers an opportunity to grow their own bamboo and bring to a central factory [which is] the kind of relationship small farmers had with the sugar industry,” she said.

The project is estimated to create some 1,000 direct employment in Jamaica and in excess of approximately 10,000 indirect jobs.

The Bamboo Bioproducts team pointed to the substantial green credentials of the project which will attract carbon credits and produce its own bio-mass power. Surplus electricity will be available to Jamaican consumers at a competitively low price.

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