Last month, Superintendent of Banks Alejandro Fernandez alerted that the high yields depositors in the 3.14 Inversiones World Wide SRL fund were being paid were not supervised by the Superintendence of Banks nor monetary authorities. Fernandez said the government authorities could not act to stop the fund from operating until private depositors sued Wilkin García Peguero, alias Mantequilla, and his 3.14 Inversiones World Wide for failure in keeping to the promised deals. He warned people in the Dominican Republic that this looked like a pyramidal financial scheme and that people were at risk of losing it all.
It was just a matter of time. While defending the “formula” he used in his money scheme to double the deposits, Mantequilla announced he would only return the original money in the deposits at his location in Sabana Grande de Boya, Monte Plata province, not the fantastic yields he was promising. This occurred shortly after commercial banks asked him to clear out his accounts.
Now, the whereabouts of Mantequilla are unknown, as reported in El Dia. A spokesperson for the business, Rosanna Méndez told El Dia reporters that the payments are no longer being made because there is no money left to return the deposits to the fund investors.
Read more in Spanish:
El Dia
Diario Libre
DR1 News
18 October 2022