Phylicia Jallim, a former Branch Manager of NAFICO and of 22 Welcome Street Rosignol, West Bank Berbice and 103 Thomas Street Kitty, Georgetown was today charged by the Special Organized Crime Unit (SOCU) with 16 counts of Obtaining Money by False Pretence.The sum amounted to $283M. She was also charged with one count of Fraudulent Misappropriation amounting to $5.8M.
She appeared at the Blairmont Magistrate’s Court before Magistrate 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.
The matter was adjourned to the June 19, 2023 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 victims were led to believe that she is the Chief Executive Officer of Dream Chasers, a legal investment where she borrows money from investors and lends the money to government contractors and farmers who are having financial problems.
She informed the victims that she would pay them 5 to 20 per cent 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 money as per her agreement with them and she never returned their capital. The company Dream Chasers Investment never existed and the farmers and contractors’ names she mentioned to the victims as her ‘clients’ denied doing any business with her.
Investigations 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 the congregation’s penny bank account. She converted the amount of $5.8M of the church’s penny bank monies to her own use and benefit.
SOCU is currently conducting a number of other investigations of similar nature against her.
