BY JENNIFER KUSAPA
The case against owner of One Link Pacifica money scheme is set for mention today in court.
The case was mentioned last week for possible plea but was adjourned.
Charles Dora is facing charges under the financial institution act of 1998.
It is alleged that on July 4, 2019, he registered the money scheme One Link Pacifica (OLP) at the company Haus under the name of Mr Charles Dora as Director and Mr Dora is the proprietor and sole trader of the OLP, he is also a manager for online mentors.
OLP scheme was described as sharing resource; however, it is a Ponzi scheme, the essence of the scheme is that investors give money towards the company, on promise there will be a higher return after 30 days of investment, the creator of the scheme then used recruiting agents (mentors) for people to come along and invest their money through them.
Prosecution alleged that Dora collected deposits from mentors by way of online deposits.
Prosecution also alleged that between the period of December 2019 to March 2020, investors did not receive their money as promised. Within the period, CBSI warned public members about the operation of the scheme, that one-link Director Mr Charles Dora did not apply for a licence under the FIA to engage in the business of banking in Solomon Islands.
On March 4, 2020, CBSI wrote to Dora as Director of One-Link to make available to CBSI records, books or accounts relating to the business for examination within seven working days pursuant to section 3(3) of the FIA. However, Dora did not provide detail documents or failed to comply such their bank account details, receipt books and accounts books.
Later on, March 27, 2020, CBSI informed Police that One Link Pacifica seemed to be operating as a banking business, and does not comply with the Financial Institution Act, it was at that time investigations were made and the accused was arrested for that offence.
Prosecution alleged that Dora knowing his co-accused was arrested on April 4, 2020, went and hid at Russel Islands, Central Islands Province up until his arrest on June 1, 2021.