Six charged in alleged $110 million fraudulent loan scheme

By Prince Moore  

 

 

The Financial Investigations Division (FID) says six people have been arrested and charged in connection with an alleged 110 million dollar fraudulent loan scheme.

 

The FID says the charges follow a joint investigation with the Jamaica Constabulary Force into allegations that loans totalling approximately $110 million were obtained from a prominent financial institution between January 2023 and December 2024.

 

Investigators allege that the loan applications were supported by forged and fictitious documents, and that the proceeds were transferred through bank accounts belonging to third parties.

 

The six accused are 39-year-old business owner and accountant Errol Williams; 52-year-old customer service representative Christine Elliot; 24-year-old Staisha Campbell; 34-year-old labourer and farmer Paige Dixon; 44-year-old shopkeeper Adrien Kerry-Ann Gordon; and 58-year-old businesswoman Admarie Ashman.

 

The FID alleges that Williams benefitted from approximately $20 million, while the other accused are alleged to have received sums ranging from $1.2 million to $1.5 million each.

 

All six face charges of engaging in transactions involving criminal property, uttering forged documents, obtaining credit by fraud, and conspiracy to defraud. Williams also faces a charge of possession of criminal property.

 

Five of the accused, who appeared in the Kingston & St. Andrew Parish Court on October 13, were granted bail and had their cases adjourned until February 16, 2027.

 

Their bail conditions include surrendering their travel documents, reporting to the police twice weekly, restrictions on their movement, and a prohibition on contacting or interfering with witnesses.

 

Meanwhile, Ashman, who was arrested and charged on October 20, remains in custody and is scheduled to appear in court on Friday, October 23.

 

The FID said the investigation is continuing.

 

Dennis Chung, Chief Technical Director at the FID, said the charges demonstrate the ability of forensic investigators to identify and pursue individuals involved in sophisticated fraud schemes.

 

"It spanned a long period, involved many individuals, and relied on documents, accounts, and identities made to look legitimate. The investigation required close collaboration and the expertise of one of our longstanding strategic partners, the JCF. We also want the public to understand how easy it can be for persons to get caught up in a money-mule scheme such as this. A request to receive money or to lend an account or identification can seem harmless, but it can make a person a pawn in someone else's criminal activity," he warned.