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A report from Lorraine Mendez
As the probe into the multi-billion dollar fraud at investment firm Stocks and Securities Limited (SSL) continues, the Financial Investigations Division says it has unearthed further evidence to show that more than 200 accounts were affected in the massive racket.
The FID says the fraud and other irregularities related to clients' funds has exceeded what it terms a staggering US$30 million or nearly J$5 billion.
But the FID says despite numerous appeals and direct means of communication, most of the investors affected by the fraud have not been cooperating with investigators.
It says it has only received 23 official statements from affected individuals and entities.
According to the FID, the investigative process is far advanced and a file has been submitted to the Director of Public Prosecutions to determine whether other individuals should be charged in the case.
The FID had previously promised that other people would have been charged when the case against former wealth advisor Jean-Ann Panton returned to court Wednesday.
But the agency says its investigators are still putting together evidence gathered in the case.
It outlines that the findings so far indicate potential criminal and regulatory breaches involving both the company itself and individuals associated with it.
The FID says the probe extends beyond Jamaica and includes collaboration among law enforcement agencies in other jurisdictions.
Head of the FID Selvin Haye says investigators are still reaching out to affected clients to encourage them to provide statements.
He says SSL clients who have been affected by the irregularities may contact the FID via email at info@fid.gov.jm or via telephone at 876-928-5141-8.
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