The Tribune

By LYNAIRE MUNNINGS

Tribune Staff Reporter

lmunnings@tribunemedia.net

POLICE Commissioner Shanta Knowles and her executive team met with Securities Commission Chairman Justice K Neville Adderley and Executive Director Christina Rolle during a courtesy call  –– but officials did not take questions from the invited members of the press.

Justice Adderley called the meeting “a significant and historic step forward,” saying: “The commission and the police force must cooperate to ensure the commission maintains good standing globally. We are tied by law and the mandates we must fulfil. If the commission fails in these areas, it could affect whether the country is blacklisted.”

According to recent reports, the commission has been investigating Creators Alliance, an unlicensed investment scheme it described as having “the hallmarks of a pyramid scheme.” Ms Rolle previously told The Tribune Business that the commission has been probing the operation for the past two weeks in collaboration with the police.

She said the findings so far suggest the scheme is likely unlawful. Although no formal complaints have been received, investigators have contacted people believed to be involved. She urged members of the public to come forward with information to help identify those behind the operation.

The commission believes Creators Alliance is a California-based multi-level scheme that compensates users for recruiting others and promised daily earnings for watching videos, along with full investment repayment after six to seven months.

Though its presence appears to have been strongest in Grand Bahama, the scheme is believed to have reached individuals across The Bahamas and the wider Caribbean, including St Lucia, St Vincent and the Grenadines, and Puerto Rico.

Creators Alliance is not registered or licensed in The Bahamas, and the Commission has warned its activities likely breach the Financial and Corporate Service Providers Act, 2020. While representatives of the scheme claim recent disruptions were due to a system upgrade, the commission continues to advise caution.