As previously announced, the investigation into the SSL matter is ongoing, with Jean-Ann Panton currently facing fraud charges set to appear in court today for a mention.
The complexity of the investigation cannot be understated, as it involves a comprehensive examination of events dating back to the inception of SSL in 2006. Since then the company has garnered substantial investor interest.
The meticulous inquiry requires a thorough analysis of the entire time period, scrutinizing the flow of investor funds. This process, by its nature, is time-consuming and deliberate.
Presently, the findings indicate potential criminal and regulatory breaches involving both the company itself and individuals associated with it. It should be noted that these matters are distinct from the ongoing court case, which centers on a prolonged fraud affecting numerous investors.
Evidence now shows that there are over 200 affected accounts and a staggering amount exceeding US$30 million attributed to fraud and other irregularities related to clients’ funds. Despite numerous appeals and direct means of communication, the FID has only received 23 official statements from affected individuals and entities.
The investigative process is far advanced and we are now at the point where a file is currently with the prosecutors who are reviewing the evidential material with a view to discerning the possible charges.
Notably, these investigations transcend national boundaries, with inquiries extending beyond Jamaica. Leveraging international mechanisms such as the Mutual Legal Assistance Treaty (MLAT), and employing informal channels like law enforcement-to-law enforcement inquiries, as well as capitalizing on Jamaica’s membership in the Asset Recovery Inter-Agency Network for the Caribbean (ARIN-Carib), underscores the commitment to a thorough and comprehensive examination of the SSL matter.
FID’s Director General, Selvin Hay reiterated previous invitations to clients who have been affected by the irregularities to contact the FID via email at info@fid.gov.jm or via telephone at 876-928-5141-8.
“I must emphasise the critical role their cooperation plays in seeking justice through the Courts. The FID remains committed to supporting the integrity of the financial system and will spare no effort in bringing all guilty parties to justice,” he noted.