Downtown owners lose $3M in managers’ cheques scam

Business owners in downtown Port-of-Spain have been defrauded of more than $3 million through scams using fraudulent managers’ and certified cheques. This was disclosed in a release issued by the Downtown Owners and Merchants Association (DOMA.) In some instances the amount of a single loss exceeded $100,000, while in other instances the loss was in excess of $200,000 and $300,000 in merchandise. Most of the fraudulent transactions took place late on Fridays and on Saturdays.

“We wish to strenuously advise that bank managers’ cheques and certified cheques should cause extreme suspicion when presented outside of normal banking hours “This is especially true on Saturdays and if in doubt, the public is advised to contact the nearest police station or Fraud Squad at 523-6748,” the release stated. DOMA is calling on persons who have suffered losses to call 625-DOMA. According to DOMA, the problem is widespread and should be dealt with immediately.