Investigators promise thorough probe into SSL matter despite lengthy process

 

Amid public criticism over the length of the two-year investigation into fraud allegations at investment firm, Stocks and Securities Limited (SSL), the security agencies leading the probe say the charges laid over the weekend are the result of extensive financial investigations and coordinated multi-agency efforts.

 

Three former executives of SSL were arrested and charged with several fraud-related offences on the weekend. 

 

They were granted station bail and are due in court in January 26. 

 

The accused are former director Hugh Croskery, his daughter, former Montego Bay branch manager Sarah Meany, and ex-CEO Zachary Harding. 

 

Investigators say the SSL investigation commenced in 2023 after the laying of fraud-related charges against former SSL employee Jean-Ann Panton in February of that year.

 

Inspector Brenton Williams, head of the Constabulary Financial Unit, says what followed next was the meticulous gathering of key evidence.

 

He says notwithstanding the public's impatience to have the matter brought to a close, the process cannot be rushed, but it will be thorough.

 

"The complexity of this investigation cannot be overstated. The alleged fraud was longstanding and sophisticated. Probing it required a comprehensive review of events dating back to SSL's inception in 2006, including careful analysis of investor activity and how funds moved across the entire period. Work of this nature takes time and must be done diligently," Inspector Williams asserted. 

 

"We understand the public's expectation for swift results and that delays can be viewed negatively, however the JCF, the FID and our law enforcement partners, including MOCA, have the capacity and expertise to conduct these investigations thoroughly and bring matters forward in keeping with the rule of law," he stressed. 

 

The security agencies say evidential items secured during the raids carried out in St. Andrew and St. James on Saturday are being subjected to forensic and analytical review. 

 

Meanwhile, the security officials say Dermot Meany, the fourth person arrested following the weekend's operations, will be the subject of a separate communications from the appropriate law enforcement agency.

 

He was taken into custody in relation to a breach of the Firearms Act after he was found to be in possession of ammunition, exceeding the legally permitted amount.