CASTRIES, St. Lucia, May 16, CMC- Police say they have detained several people following an islandwide raid conducted in collaboration with the Financial Intelligence Authority (FIA) earlier this week as they seek to uncover those behind the Creators Alliance investment scheme.
The police have no disclosed the identities of those detained during the raid.
The authorities said that the operation marked the culmination of months of investigations by an inter-agency task force comprising the FIA, the Major Crime Unit of the Royal St. Lucia Police Force (RSLPF) and the Financial Services Regulatory Authority (FSRA), into the suspected pyramid investment scheme.
The scheme is believed to have been operating both locally and regionally from as early as June 2024. It ended abruptly in March thus year, resulting in substantial financial losses to thousands of investors here and across the region.
The authorities are reminding members of the public to exercise prudence and to avoid investing in unregulated or suspected pyramid or “Ponzi” schemes which generally result in financial loss to the investors.
They are also reminding the public of section 126 of the Consumer Protection Act, which makes the participation in a “pyramid selling scheme” a criminal offence with fines of up to EC$5000 (One EC dollar=US$0.37 cents) and or imprisonment for up to two years.
CMC/2025