Offshore investment scheme cut ties

Offshore investment scheme May Daisy is cutting ties with its Jamaican investors.



The company has sent a message to its Jamaican clients saying it will be shutting them out of its business as of May 30.



The investment scheme said it is forced to cut the relationship with Jamaica because of the hostile attitudes of some of its existing clients.



It said the last couple of months have been extremely challenging, as the company has had to deal with a number of internal and external issues.



The organisation said while it does not operate in Jamaica, a significant percentage of its membership is located here.



According to May Daisy, Jamaicans for example have been deceiving new customers about their monthly gains.



It said in some cases existing customers are charging new clients handsome fees to sign up with the club, despite the fact that there is no related cost.



As a result, the company said it would be closing all Jamaican accounts by month end.



The investment club has also released a repayment schedule for its outgoing Jamaican clients, and arrangements are being made to facilitate full payments on all the accounts.



According to the schedule, customers will be repaid in six batches ending on November 14 this year.



This revelation follows the collapse of local investment scheme Cash Plus and reports of problems with payment of gains at another club known as World Wise Partners.