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One of 15 companies listed in a Financial Services Commission (FSC) public notice as an unregistered investment scheme has reportedly run into problems.
RJR News has been informed that employees of Caribbean Real Estate Investment Fund (CARIEF) have not been paid salaries for March and April.
It is understood that only a handful of employees received half of their March salaries.
CARIEF also reportedly owes several of its creditors hundreds of thousands of dollars.
CARIEF's management is blaming the company's inability to pay salaries on its sales staff.
A May 5 internal memo obtained by our News Centre suggested that some sales employees were not closing enough real estate joint venture deals.
The company said its primary objective is to offer local and overseas interests the opportunity to invest in real estate developments in and outside of Jamaica.
The management also hinted that some employees will be laid off as the company embarks on a restructuring exercise.
CARIEF Product and Services Manager, Nordia Jagganarine, dismissed rumours that the company is closing down.
However, she declined to comment on the issue of the outstanding salaries.
CAREIF's management has consistently denied that it is an alternative investment scheme.