FBI to assist probe fraud at Jamaican funding agency SSL

The Jamaican authorities Monday introduced that the USA Federal Bureau of Investigation (FBI) will help native authorities within the investigation of the alleged multi-million-dollar fraud at funding agency, Shares and Securities Restricted (SSL).

“No stone might be left unturned,” Finance Minister Dr. Nigel Clarke instructed a information convention as he delivered a particular coverage tackle on regulation of the monetary sector in response to the scandal that has rocked the nation.

“The investigative authorities have full operational independence and can pursue the info wherever they could lead. They are going to unearth precisely how funds have been allegedly stolen, who benefited from such theft and who organized and collaborated on this.”

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Clarke mentioned the probe will even search to determine whether or not property have been acquired domestically or abroad with the proceeds of the alleged fraud and if and when such property are recognized, “all authorized steps might be taken to restrain these property with the intention of full forfeiture”.

Final week, Prime Minister Andrew Holness, mentioned no effort might be spared in uncovering the total extent of the fraud on the SSL, whose purchasers included eight-time Olympic champion Usain Bolt.

Bolt has indicated by his lawyer that he had a stability of US$12.7 million at SSL as at October 31, 2022, however that determine declined to US$12,000 on January 11.

The attorneys representing Bolt have given need SSL ten days to return the observe star’s investments “or face an enormous lawsuit”.

Holness, who indicated that he was briefed on the matter, mentioned he’s involved and sympathetic to the hard-working Jamaicans who’re unsure of the standing of their funds invested with SSL.

Clarke mentioned Monday that the Police Fraud Squad and the Monetary Investigations Division had sought help final week from the FBI and different worldwide companions.

On Monday, Clarke additionally named Financial institution of Jamaica (BOJ) Governor Richard Byles as the brand new chairman of the Monetary Providers Fee, and that BOJ executives Wayne Robinson, senior deputy governor; George Roper, deputy governor; and Jide Lewis,  deputy governor will serve on the FSC board.

CMC/