19 Nov 2002

Solomons police investigate a controversial scheme

11:22 am on 19 November 2002

Solomon Islands police will shortly decide whether to charge the people behind a controversial investment fund.

The Family Charitable Fund has taken 250 dollar membership fees from more than seven thousand people with the promise of payouts of more than a million dollars within a matter of weeks.

The Governor of the Central Bank, Rick Hou, called in April for a police investigation of the scheme.

A month ago, the Bank said the public should know the promoters appear to not have any funds anywhere and have used the deposits to enrich themselves.

Church groups have also criticised the scheme which is still operating.

Jackson Ofu of Solomon Islands CID say they have still not received any complaints, but have been looking into whether it complied with the Banking Act, and the possibility of fraud.