Authorities have detained several individuals suspected of playing key roles in the controversial Creators Alliance investment scheme, following an island-wide operation on Tuesday.
The identities of the individuals, or how many were taken into custody, were not disclosed.
The operation, conducted jointly by the Financial Intelligence Authority (FIA) and the Royal Saint Lucia Police Force (RSLPF), included searches of multiple premises across the island. It marked the culmination of months of investigation by a multi-agency task force comprising the FIA, the RSLPF’s Major Crime Unit, and the Financial Services Regulatory Authority (FSRA).
The Creators Alliance scheme, believed to be a pyramid-style investment operation, reportedly began in June 2024 and operated both locally and regionally. It abruptly collapsed in March this year, leaving thousands of investors across Saint Lucia and the wider Caribbean facing significant financial losses.
Investigators say they have identified multiple breaches of Saint Lucia’s financial services laws by individuals linked to the scheme.
In a statement issued Tuesday, the FIA urged the public to exercise extreme caution and to avoid unregulated investment opportunities which often result in substantial financial losses.
Authorities also reminded the public that under Section 126 of the Consumer Protection Act, participating in a pyramid selling scheme is a criminal offence punishable by a fine of up to $5 000 or imprisonment for up to two years.
Investigations are ongoing.
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Great news! But they have another scam already started to replace CA and they’re still actively recruiting guilible and greedy people
I told one gullible creator alliance person that this was a scam. Her response to me was “y’all St Lucians always dere. Everyfing for y’all is a scam”. Two weeks after, boom, all fall down. Nuff said.
Everybody is after fast money . We are living in a fast money world…
@ observer, what new scam is this?