Dominican Republic Authorities Crack Down on Massive Ponzi Scheme
Over $86 Million Seized in Anti-Money Laundering Operation
Santo Domingo - In a significant blow to organized crime, Dominican Republic authorities have dismantled a massive Ponzi scheme led by Canadian Charles Paul Vincent Debono, who was repatriated to Canada over the weekend. The network, which operated for three years, laundered millions of dollars through investments in hotels, fast food centers, luxury vehicles, and real estate.
How the Scheme Worked
According to officials, the scheme involved raising funds from unsuspecting investors by promising them high returns on investments in furniture and real estate. However, instead of using these funds for their intended purpose, Debono used them to pay off early investors, luring new victims into the scheme with promises of high interest rates.
Raids and Seizures
Seven raids were carried out by authorities, including the Specialized Anti-Money Laundering and Terrorism Financing Office, the National Police, and Interpol, in Barahona, Boca Chica, and the National District. The operations resulted in the seizure of:
- Over RD$ 1.6 million
- US $31,420
- 5 euros
- Four high-end vehicles
- Three pistols
- A shotgun
- Electronic devices
- Money counting machines
- Property titles
Confiscation of Properties and Assets
The Public Ministry plans to request the courts to confiscate properties registered in the name of companies and individuals linked to the network, acquired with funds obtained from illicit activities. Over 10 properties and dozens of vehicles purchased by Debono were identified as being part of the scheme.
Key Figures Arrested
Sol Esperanza Acosta González, Debono’s wife, was arrested for her involvement in the money laundering operation. The investigation is ongoing, with authorities working to track down additional individuals involved in the scheme.
Background on the Scheme
Acosta owns real estate and personal property acquired since 2017, when she married Debono and began construction on two hotels - South Beach in Barahona and Frío Frío in Boca Chica. The investigation revealed that these properties were purchased with funds obtained from the Ponzi scheme.
Conclusion
The crackdown on this massive Ponzi scheme is a significant achievement for Dominican Republic authorities, who have worked tirelessly to disrupt organized crime networks. As the investigation continues, it is expected that many more individuals will be brought to justice for their role in this illegal operation.