News Americas, KINGSTON, Jamaica, Fri. Feb. 17, 2023: Charges have finally been filed in the case of the Stocks & Securities Limited, (SSL), fraud in Jamaica that includes the loss of over USD 12 million by Olympian Usain Bolt. The fraud is believed to be at least J$3 billion.
This morning, former Stocks & Securities Limited (SSL) wealth adviser Jean-Ann Panton was slapped with several charges in relation to the multi-billion Jamaican dollar fraud scandal. Panton, who is scheduled to appear in the Supreme Court later today, was charged with breaches of the Larceny Act, the Proceeds of Crime Act, the Forgery Act and the Cybercrimes Act.
The Financial Investigations Division (FID) has said it will seek to prefer additional charges on Panton and “other perpetrators.”
Investigators have described the case as “complex” because of the number and types of accounts affected, the number and types of transactions conducted, and because the alleged fraud occurred over a decade. Prior to charges being laid, Panton was grilled by investigators February 14-16, weeks after searches were conducted on two premises in the Corporate Area. This resulted in the seizure of documents and electronic devices, including telephones, which continue to be analysed.
Panton is represented by attorney Tamika Harris.
FID, which is leading the investigation alongside the police Fraud Squad, said that it still cannot quantify the overall fraud but confirmed prior reports that Jamaican athletics star Usain Bolt had been fleeced of approximately US$12.7 million or nearly J$2 billion.
Norman Peart, Bolt’s former manager, whose signature appears to have been forged, cooperated with investigators and had never been treated as a suspect, FID said.
“As the investigation progresses, we wish to assure the public that the work into unravelling this fraud is thorough and includes collaboration with local and international agencies. Various lines of inquiry are being pursued with a view to identifying all connected parties and bringing them to justice,” Selvin Hay, FID’s chief technical director, said.
Hay said that investigators have been working with the Office of the Director of Public Prosecutions in marshalling the evidence.
“We’ve had to be deliberate and meticulous in the process of verifying and authenticating the information and intelligence received so far. When the matter is presented in the courts, our submissions must demonstrate clear, irrefutable evidence against all who stand accused,” Hay said.