ONE Link Pacifica’s manual stream manager Gerrad Tauohu has been sentenced to three and a half years in jail for stealing almost $400,000 of the scheme’s customer.
The sentence is backdated to commence on when Tauohu was first remanded in custody.
Deputy Chief Magistrate Ricky Iomea in his sentencing remarks on Wednesday said the sentence should promote the goals of general and specific deterrence going forward.
“The court must send the message clear to the public that those who are and intending of operating these kinds of quick money schemes will expect to receive tough penalties if found guilty,” Mr Iomea said.
“This is to protect the vulnerable members of the community from being lured by fraudsters for their benefits and those who were first to invest,” he added.
He said the sentence must also deter the accused from further involvement in similar offending in the future.
Tauohu was arrested and charged after five of the scheme’s mentors who deposited customers’ monies into the manual stream between December 2019 and March 2020 lodged their complaints to the police.
Mr Iomea said One Link Pacifica was a Ponzi or Pyramid money making scheme where the last to invest is mathematically certain to lose his or her money.
He said the risk of losing that money was even greater when those responsible for managing the investments are recklessly spending monies invested, on purposes outside of the purpose of investment or cycle of the scheme.
“This was what the accused did in this case.
“The accused had total effective control and management of the manual stream of One Link Pacifica.
“He was single-handedly responsible for daily operations of the manual stream including decision making.”
Mr Iomea said Tauohu had possession and control of the monies invested by the five complainants on behalf of their customers into One Link’s manual stream without a claim of right.
He further added that Tauohu knew that the monies used to pay those who invested first were monies of customers who invested late and that he knew if no new investment is done then those who invested late are certain to lose their money.
“To continue to operate the manual stream with this knowledge and making no effort to stop the scheme is fraudulent and shows pre-planning, that is to lure vulnerable members into investing into the scheme for his quick financial benefits and that of those he chose to make payouts to.
“The decision by the accused to give money for payment of cars from Japan was a reckless and selfish decision which was made against the purpose for which the monies were deposited by the complainants on behalf of those who invested through them.
It was previously heard in court that the eight vehicles from Japan did arrived at the Honiara port but due to non-payment of fees the customs had sold the vehicles.
“It was a deliberate and dishonest misapplication of monies deposited by customers through the five mentors,” Mr Iomea said.
Mr Iomea went on to state that the accused’s decision to pay for about eight vehicles from Japan speaks of someone who puts his interest first other than that of the victims, in accumulating luxurious properties for himself, his family and friends.
“He had not reflected on the risked faced by investors into this money making scheme and stop the fraud.
“He continued to operate the manual stream of One Link Pacifica until it collapsed.”
He said by the time it collapsed, the customers have lost the monies they had worked long and hard for.
Tauohu was arrested and charged after the five mentors lodged their complaints with the police last year.
Private lawyer Ronald Dive represented Tauohu while Public Prosecutor Jonathan Auga appeared for the Crown.
By ASSUMPTA BUCHANAN
Newsroom, Honiara
