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FTC Must Prosecute Kirk Brown

Kirk Browne

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The quest for quick money by gullible Barbadians has tossed up the latest crook in the name of Kirk Brown, popular DJ, entertainer.

In June 2021 Director of Consumer Protection Dav Leslie-Ward at the Fair Trading Commission (FTC) issued this statement “(FTC) working on getting the regulatory framework to deal with all “blessing circles”/pyramid schemes”.

The blogmaster has posted on these dishonest pyramid schemes in earlier blogs. Why do so educated Barbadians fall for these dishonest schemes? These are the same Bajans who have the right to vote, refuse a vaccine etc. We live in interesting times. A society has the moral obligation to protect the vulnerable, the regulator (FTC) needs to prosecute Kirk Browne to send a message to the ignorant.

Thanks to Peter for drawing to the attention of Barbados Underground.

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118 responses to “FTC Must Prosecute Kirk Brown”

  1. Bush Tea Avatar
    Bush Tea

    Boss…
    Would you care to please explain this ‘process’ that you are so wont to ‘respect’…. cause Bushie DON’T get it!!!

    …and in the hallowed bush man’s book, ‘Naivety’ refers to an apparent or actual lack of experience and sophistication, often describing a neglect of pragmatism – in favor of moral idealism.

    …in udder words, having ‘respect’ for shiite processes that do NOT make sense…

    You KNOW that Bushie does NOT play THAT!!!

  2. David Avatar
    David

    @Bush Tea

    We must wait until Dondley and his commissioners rule. That is the process.

  3. TheOGazerts Avatar
    TheOGazerts

    This is nothing more than a Pavlovian process. When the final decision is made, the masses are so accustomed to paying higher that a slightly higher increase is accepted without a whimper.

    They are playing games.

  4. NorthernObserver Avatar
    NorthernObserver

    David
    Part of the process is a timeline for decisions?
    This is now becoming like the courts with legal delay tactics.
    Or the NIS with reporting.
    The “norm” shifts, until you have nothing left.
    And one wonders “how we get hey”?
    Unacceptable is the only response.

  5. Artax Avatar
    Artax

    I heard, from a reliable source, a number of persons recently resigned from FTC, including some who were employed a few months ago. Have to ask if that situation affected the process.

  6. Bush Tea Avatar
    Bush Tea

    @ NO
    This kind of obfuscation is normally associated with situations where certain underhanded practices are in play and where full transparency and openness CANNOT be employed.

    Delays then introduce miscellaneous distractions; people get tired; people die.. and eventually we all just want to get it over with… and to Hell with the underhand stuff…
    Called ‘complacent brassbowlery’.

    What can POSSIBLY be complex about adding up BL&P’s expenses and income and subtracting to see if they are making reasonable profits; too little profit; or MUCH TOO MUCH damn profit?
    Lotta shiite!!!

    If such a process takes more than four weeks, then perhaps we should allow a full month for the damn 11+ exam.

  7. Hants Avatar
    Hants

    an wen de hurricane come ?

    https://www.nhc.noaa.gov/gtwo.php?basin=atlc&fdays=7

  8. David Avatar
    David

    @NO

    You got it.

  9. Artax Avatar
    Artax

    @ David

    I understand FTC has already completed the calculations.

    But, the B.L&P asked for more time, which was requested by a manager who said he was grieving as a result of his father’s death.

    An obvious ‘delay tactic.’

    The FTC granted them nine (9) days.

  10. David Avatar
    David

    @Artax

    You cannot make this stuff up.

  11. David Avatar
    David

    https://www.instagram.com/p/DBtx12MS25u/?igsh=MWFqNnIzbTB5OGtzbQ==

  12. Cuhdear Bajan Avatar
    Cuhdear Bajan

    The FTC really needs to stop being mealy mouthed talking about multilevel marketing and call these schemes EXACTLY what they are

    PONZI schemes

    A Ponzi scheme is an investment SCAM that pays early investors with money taken from later investors to create an illusion of big profits. A Ponzi scheme promises a high rate of return with little risk to the investor. It relies on word-of-mouth, as new investors hear about the big returns earned by early investors. INEVITABLY, the scheme collapses when the flow of new money slows, making it impossible to keep up the payments of alleged profits.

  13. Cuhdear Bajan Avatar
    Cuhdear Bajan

    The lure of quick money without any effort.

  14. David Avatar
    David

    What is wishy washy about the role FTC is playing is that there seem to be no legislative framework to adequately address the matter of Ponzi operations in Barbados.

  15. David Avatar
    David

    The same way there is a rush to bring anti tint laws, why not Ponzi schemes?

  16. Bush Tea Avatar
    Bush Tea

    The same way there is a rush to bring anti tint laws, why not Ponzi schemes?
    ~~~~~~~~~~~~~~~~~~~~
    Boss
    Sometimes you really CANNOT be serious.
    Which government EVER introduced a law against itself?

    The biggest Ponzi schemes in Brassbados are government schemes.
    -Sewerage Tax
    -Road Tax
    -ALL the damn levies..
    -The Electricity rate scam
    -The Photo Voltaic investment scam
    -The current battery storage arrangement with BL&P that will cost customers millions..

    Boss, without the benefit of these LEGAL Ponzi schemes, government would be FORCED to operate efficiently, to make sensible transparent decisions, and they would actually have to KEEP CURRENT Accounts…

    That law will be passed just AFTER the integrity and Transparency legislation is proclaimed…
    LOL
    ha ha ha

  17. David Avatar
    David

    Ponzi scheme crashes

    by SHAWN CUMBERBATCH

    shawncumberbatch@nationnews.com

    AN INVESTMENT SCHEME which financial regulators and some senior Government officials recently warned Barbadians about has reportedly crashed and left thousands with major financial losses.

    Faced with allegations that they are operating a Ponzi or pyramid scheme, two female representatives from the company in question, TKY Media, told hundreds of “employees” on a Zoom call last night that they had no immediate answers about when they would get their money back.

    One of the individuals, who identified herself as Kim “the trainer”, also told the meeting that “of course, we had some problems and issues with the banking system and so on in Barbados, and that caused a lot of the problems that we are now having”.

    Earlier in the day, president of The Barbados Bankers Association, Shimon McIntosh, issued a brief statement when asked about the TKY matter.

    He said that “as part of normal activities, banks regularly review client transactions to ensure they are consistent with their usual activity and profile to ensure compliance with anti-money laundering regulations and banks’ own internal compliance and risk policies and procedures”.

    The Fair Trading Commission and Financial Services Commission (FSC) have been contacted for a comment on the TKY affair which came to a head on Tuesday. That was when investors, who are called “employees” by the company but were to contribute funds and recruit others with the promise of securing financial returns, stopped receiving payment.

    The TKY Barbados representative said during the Zoom meeting: “We know that a lot of you want to know mainly one thing, . . . ‘when will I get my money back?’ Now, a lot of us have also invested, we have not received anything free, and some of us are in the red in terms of money and so on,” she said.

    “Based on the constant representation from the local admin staff and office management, the senior management has realised the feelings of turmoil and the hurt and the feelings of betrayal that has been felt over the last couple of days, and we still feel it across Barbados, obviously.”

    She added: “I know that after all of what transpired, we will find it hard to have any kind of trust in regional management, but apart from our efforts and after what occurred, they have been in contact and confirmed their commitment in making sure to correct the actions that were taken, and in satisfying each and every one of us.”

    TKY, which describes itself as “a globalinternational media company from the United States, dedicated to enriching people’s daily lives by providing media service information”, registered the business name TKY Media – Barbados in May this year at the Corporate Affairs and Intellectual Property Office.

    However, the company does not have the licence needed to operate as a financial institution either from the Central Bank of Barbados or FSC.

    A finance expert familiar with the “pyramid scheme type” business model used by TKY said yesterday that “a lot of the company’s payments were being wired to Barbados but there was an exchange of funds in the form of the cryptocurrency USDT and that was how people were being compensated”.

    “They were exchanging USDT for hard cash. The commercial banks have reportedly said this is not acceptable given their hard stance on cash flow out of crypto currency,” the expert said.

    “So they allegedly are not allowed into their bank accounts to distribute to members and whatever they were doing pretty much was stopped in line with the fact that they used crypto currency, and also based on the allegation of them being a pyramid scheme, which is illegal as per the Consumer Protection Act.”

    During last night’s approximately 15-minute Zoom meeting, those on the call received an apology but were told “we are not anywhere close to the end of solving [this], we are just at the very beginning stages of finding the solution”.

    “We can’t say by tomorrow, because there will be thousands of persons to be satisfied. However, the process is being worked on as we speak, and we will also be setting up a dedicated email address for all the grievances that you have to be addressed,” the representative said.

    “We are looking to see how best we can service each and everyone of you in terms of your concerns for your money and that kind of thing. We understand the stress and frustration, and we too apologise for it although we are definitely in the same boat. We had no idea that the [TKY] application was going to go down or that this situation would have occurred.”

    Reports out of Martinique yesterday indicated that about 7 000 people in that country were also facing major financial losses after TKY’s operations there also failed.

    Source: Nation

  18. David Avatar
    David

    A case of idiots must be protected from themselves.

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