Phylicia Jallim, 37, a former Branch Manager of NAFICO and of Welcome Street, Rosignol, West Bank Berbice and Thomas Street Kitty, Georgetown was today charged by the Special Organised Crime Unit (SOCU) with 16 counts of Obtaining by False Pretence amounting to $283 million and one count of Fraudulent Misappropriation amounting to $5.8 million.
She appeared at the Blairmont Magistrate Court before Magistrate Mr. Peter Hugh where the charges were read and she was granted bail in the sum of $100,000 per charge, despite strong objections by the Police Prosecutor, Deputy Superintendent Jeffers.
The accused was unrepresented. The matter was adjourned to June 19 for statements to be filed in only one matter as the other 16 matters remained indictable in nature.
In December 2022, a number of persons made reports at SOCU that the accused was operating a Ponzi Scheme. Investigations revealed that the accused deceived victims into believing that she is the Chief Executive Officer of Dream Chasers, a legal investment where she borrows money from investors and lend the money to government contractors and farmers who are having financial problems. She allegedly informed the victims that she would pay them 5 to 20 percent interest weekly on their capital invested.
Between July 2022 and November 2022, 16 victims from Berbice invested their monies with her but never received any returns as per her agreement with them. Moreover, the woman reportedly never returned their capital. SOCU also found that the company ‘Dream Chasers’ never existed and the farmers and contractors’ names she mentioned to the victims as her ‘clients’ denied doing any business with her.
Investigation also revealed that the accused was a member of the New Light Assembly of God Church located at Number 4 Village, West Coast Berbice and was entrusted with the safe custody and control of Congregation’s Penny Bank Account. She converted the amount of 5.8 million dollars of the Church’s Penny Bank money to her own use and benefit.
Currently, a number of other investigations of similar nature are ongoing against her.
