Multimillion dollar Ponzi scheme Collapses in Jamaica

Banks take time to close a business loan and begin disbursement of funds, which opens a niche market for interim liquidity. This is where Mark Jones, a U.S. citizen comes in by offering “bridge-loans” to Jamaican businesses.

Jones claimed to service the needs of these business by offering short term liquidity from his fund of over $10 million backed by more than 20 investors. Jones instead used these funds to repay the principal and interest on previous investments.

Jones was sentenced to 70 months in prison, 3 years of supervised release and was ordered to pay $3.7 million in restitutions.


User Avatar

The Caribbean Association of Banks, Inc. is the representative body and recognized voice for banks and other financial institutions in the Caribbean. We seek to influence policies and legislation which impact the sector by advocating on our members’ behalf and participating in the global network of similar institutions.

Write a comment

The reCAPTCHA verification period has expired. Please reload the page.