According to documents filed in the Broward County Circuit Court in Florida, Oswald Francis, an American businessman who resides in Jamaica, but conducts business in Florida, is suing Strachan and World Wise Partners to recover US$1,874,472.94.
Francis alleges that in March 2007, World Wise and Noel Strachan entered into and conducted a pattern of criminal activity in Florida by presenting accounting statements to him as "evidence" of foreign exchange trading transactions.
But Francis said the transactions were never performed.
He claims that World Wise knew many of the accounting statements it provided were false and that he would have relied on the statements to conduct his business.
Civil theft
According to the documents filed, Francis is also seeking damages on a count of civil theft, conversion and fraud.
Attempts to contact World Wise for a comment were not successful.
World Wise was one of several unlicensed financial clubs that paid huge dividends for savers before being forced to close operations by the Financial Services Commission.
The commission has issued a cease-and-desist order on the club, prohibiting the collection of deposits, but it does not restrict payouts.