Complaint against Jean-Bertrand Aristide by Members Victim of Cooperatives

A complaint was filed against Jean-Bertrand Aristide, former President, by the National Coordination of Members Victim of Cooperatives - (CONASOVIC) for conspiracy, fraud, theft and breach of trust.


Vast Swindling Leaves Members Ruined
CONASOVIC Coordonnateur, Rosemond Jean made clarifications that, former President of CNC - Council of Cooperatives, Henriot Petiote, Head of United Hearts, David Chery and former leader of the CADEC - Cooperative of Insurance Savings and Credit have also been pursued in the complaint by Members Victim of Cooperatives.

During the bankruptcy of 2002-2003, all assets had been lost by the financial cooperative members numbering thousands who had joined the scheme attracted by the 10% interest rate promised. There was a collapse of the get rich scheme due to the vast swindle thus leaving the members ruined and Haiti, much poorer.

US Guards and Embassy Officials Try To Convince
Around a fifty demonstrator member group who had been victimized by the pyramid scam of the credit union had been convinced by the US guards and Embassy officials, not to block the US Embassy gate in Port-au-Prince on August 30, 2002. Demonstrators were making a demand to remove President Jean-Bertrand Aristide from power.

However in late July, Aristide promised all Members of the pyramid Victim of Cooperatives Scam that before the schools opened in September's first week, reimbursements would be paid. Complaints have been filed by around 22,000 people. Haitians in thousands, had emptied their savings accounts, mortgaged their homes and sold their cars to make investments in the cooperatives.

President Blamed For Encouraging Investment
Public and government officials were warned by bankers and economists that the cooperatives were the unregulated type and the operation could lead to laundering of money. The cooperatives were however hailed as 'the people's capitalism' by Jean Bertrand Aristide, President. People blamed the President for encouraging them to invest in the illegal cooperatives.

People who lost their money were not even able to send children to school or pay rent. A bailout has been promised by the government and the President hopes that everyone will be repaid. People however, understand that this is plain strategy to keep them quiet and only time will heal the situation.

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Read more: jean-bertrand aristide, fraud, Jean Bertrand Aristide, bank, victim, Scam, Scam Artist, Theft, Bankruptcy, Cooperative, CONASOVIC, Rosemond Jean, Henriot Petiote, David Chery, Pyramid, Finance

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