Mr. Trevor Botting, Commissioner of the Royal Turks and Caicos Islands Police Force (RTCIPF), stated that he is aware of the social media posts regarding Ponzi or Circle Schemes being run in the Turks and Caicos Islands. He reminds those engaged in these schemes or attracted to such systems that Ponzi schemes and other similar activities are illegal, and those involved may be subject to criminal charges. In addition, the Financial Services Commission (FSC) has recently issued a press statement relating to this issue, and the RTCIPF will be working closely with the FSC to respond to complaints about these schemes.
Commissioner Botting said, “These schemes may appear an attractive and a risk-free option to make money, but the fact is they are illegal, and there is no guarantee of your money being returned. I would discourage all persons involved in these schemes or those considering investing money into them from engaging in this activity. You may be committing a criminal Offence and you are likely not to get your money back. The RTCIPF will investigate complaints but, as it stands, no direct complaints have been made to the Force. You can contact the RTCIPF Financial Crimes Unit by email at fcu@tcipolice.tc if you wish to make a complaint or if you have any information as to the criminal conduct of others”.