[UPDATE] Griffith slams 'greedy, stupid' DSS investors for not seeing scam

Commissioner of Police Gary Griffith has lambasted supporters the Drugs Sou Sou, saying that the pyramid scheme will eventually collapse, to the detriment of thousands of people, and those who cannot see that are greedy and stupid.

The scheme is under scrutiny by local and international police.

Speaking at the weekly press briefing at the police administration building in Port of Spain, Griffith once again cautioned the public against taking part in pyramid schemes.

Armed with a diagram, he explained that in the first phase of the scheme, six people wanting to quintuple their $10,000 "investment" would have to find six others willing to invest $10,000. That would mean for all six to benefit, they would have to find 36 people. For those 36 people to benefit, they would have to find 260 more, and so on.

“Level four is the important level,” Griffith explained. At that level, 1,296 people would each have to find six more to invest.

“For 1,296 people to benefit, that means you would have to find $12,000,960 for each of them to get five times the amount.

"This is where we are right now in this country. These people now have to find 7,776 people for them to get five times the amount.

"When this happens, that is when it will collapse.”

He said even if these people manage to convince 7,776 others to invest, for those 7,776 to benefit they would have to recruit tens of thousands more, and when the scheme inevitably collapses, it is the people at the bottom who will lose the most.

The people at the top would benefit from the people at the bottom, he said.

"That is how a pyramid scheme works. For you to get 10,000 it means six other poor people’s families will lose ten grand.

“A business does not work by me just putting in $10,000 and getting back $60,000. That shows greed and stupidity.”

Griffith also knocked members of the media who, he said, have been lauding the man at the centre of the investigation, Kerron “Preeze” Clarke, as a businessman.

“They have done everything to express how good a man he is. And that says a lot about where we have reached as a society, where we could look at something and instead of trying to look at something for what it is, we have an agenda. Let us stop the agendas and do what is right.”

Police started their investigation into DSS on September 23, and are now being assisted by officers from Barbados and the United Kingdom. They have also sought advice from the Director of Public Prosecutions, the Securities and Exchange Commission and the Financial Intelligence Unit.

DCP of Intelligence and Investigations McDonald Jacob added that the police have also been consulting virtually with UK officers.

Jacob said the investigations centre on three matters: the seizure of $655,000 on August 25; $707,500, seized on September 22; and $6.4 million which was seized on September 27. This is in addition to the $22 million seized by police in September which was subsequently returned without the knowledge of senior officers.

Jacob added that on September 22 a Defence Force officer was charged with the improper use of a firearm and ammunition while on a raid.

“There are other aspects of this investigation that will be completed within the next two weeks. The DPP will be consulted for further advice,” Jacob said.

Griffith promised to go through the files of DSS with “a fine-toothed comb,” searching for any and all illegal activity that could be attributed to DSS.

“I want to see 2,200 receipts of people who actually deposited $10,000. Even if we have to check 2,200 people and verify that they deposited $10,000, then so be it.”

Comparing people's concern over a politician who had to account for about $140,000 to their lack of concern over DSS, the commissioner said the police had the right to investigate, should there be any illegal activity.

“It is amazing that a minister could have $140,000 and there was a national concern where every Tom, Dick and Harry was demanding that she account for every single cent. And this is a minister with 40 years of experience and service to country. And they have a right to demand she justify.

"But a lance corporal has $22 million, and people have a problem with police wanting to investigate that.

“What I have noticed is people in the country say, 'I want you to clean up the country and reduce crime but it must not affect me.' I think this is very selfish.

“Such schemes have been used in other places as a front for money laundering, for drugs. If someone is a criminal and he has a half-million dollars (in) cash, and he wants to have that put into a bank he can easily say, 'This is a sou-sou hand.'”

Griffith said nothing will divert him from the course he is taking with the investigation, not even advice given by DSS operators, via social media, that people whose money was seized could recover it through the court.

DSS advised that people could apply through a form in the Proceeds of Crime Act for the release of cash subject to a detention order.

“I am not going to try to justify or clarify or give any relevance to the organisers of DSS,” Griffith said. “We have our job to do. DSS has theirs.

"No one external (to) this investigation is going to influence, compromise or pressure me with regard to how this is happening.”

This story was originally published with the title "CoP disses 'greedy, stupid' DSS supporters" and has been adjusted to include additional details. See original post below.

Commissioner of Police Gary Griffith has lambasted supporters the Drugs Sou Sou, saying that the pyramid scheme will eventually collapse, to the detriment of thousands of people, and those who cannot see that are greedy and stupid.

The scheme is under scrutiny by local and international police.

Speaking at the weekly press briefing at the police administration building in Port of Spain, Griffith once again cautioned the public against taking part in pyramid schemes.

Armed with a diagram, he explained that in the first phase of the scheme, six people wanting to quintuple their $10,000 "investment" would have to find six others willing to invest $10,000. That would mean for all six to benefit, they would have to find 36 people. For those 36 people to benefit, they would have to find 260 more, and so on.

“Level four is the important level,” Griffith explained. At that level, 1,296 people would each have to find six more to invest.

“For 1,296 people to benefit, that means you would have to find $12,000,960 for each of them to get five times the amount.

"This is where we are right now in this country. These people now have to find 7,776 people for them to get five times the amount.

"When this happens, that is when it will collapse.”

He said even if these people manage to convince 7,776 others to invest, for those 7,776 to benefit they would have to recruit tens of thousands more, and when the scheme inevitably collapses, it is the people at the bottom who will lose the most.

The people(at the top would benefit from the people at the bottom. he said.

"That is how a pyramid scheme works. For you to get 10,000 it means six other poor people’s families will lose ten grand.

“A business does not work by me just putting in $10,000 and getting back $60,000. That shows greed and stupidity.”

Griffith also knocked members of the media who, he said, have been lauding the man at the centre of the investigation, Kerron “Preeze” Clarke, as a businessman.

Police started their investigation into DSS on September 23, and are now being assisted by officers from Barbados and the United Kingdom. They have also sought advice from the Director of Public Prosecutions (DPP), the Securities and Exchange Commission and the Financial Intelligence Unit.

DCP of Intelligence and Investigations McDonald Jacob added that the police have also been consulting virtually with UK officers. He said the investigations centre on three matters: the seizure of $655,000 on August 25; $707,500, seized on September 22; and $6.4 million which was seized on September 27. This is added to the $22 million police seized in September and subsequently returned without the knowledge of senior officers.

“There are other aspects of this investigation that will be completed within the next two weeks. The DPP will be consulted for further advice,” Jacob said.

Griffith promised to go through the DSS files with “a fine-toothed comb.”

“I want to see 2,200 receipts of people who actually deposited $10,000. Even if we have to check 2,200 people and verify that they deposited $10,000, then so be it.”

He also commented, “What I have noticed is people in the country say, 'I want you to clean up the country and reduce crime, but it must not affect me.' I think this is very selfish.

“Such schemes have been used in other places as a front for money laundering, for drugs. If someone is a criminal and he has a half-million dollars (in) cash, and he wants to have that put into a bank, he can easily say, 'This is a sou-sou hand.'"

Griffith said nothing will divert him from the course he is taking with the investigation, not even advice given by DSS operators, via social media, that the people whose money was seized could be recovered through the court.

DSS has advised that people can apply through a form in the Proceeds of Crime Act for the release of cash subject to a detention order.

“I am not going to try to justify or clarify or give any relevance to the organisers of DSS,” Griffith said. “We have our job to do. DSS has theirs. No one external (to) this investigation is going to influence, compromise or pressure me with regard to how this is happening.”