Tanesha Mundle/Staff Reporter THE MULTIBILLION-DOLLAR fraud and irregularities uncovered at Stocks and Securities Limited (SSL) have ballooned past US$30 million with more than 200 accounts impacted. THE FINANCIAL Investigations Division (FID) shared the update in a statement last Wednesday while noting that the investigation is ongoing. However, the division laments that despite numerous appeals and direct means of communication, it has only received 23 official statements from affected individuals and entities. So far, investigators have only arrested and charged one individual. Jean Ann Panton, a former SSL client relationship manager, is facing a 21-count indictment charging her with forgery, larceny as a servant, and engaging in a transaction involving criminal property. She is charged in relation to sums that were fleeced from the accounts of 40 clients, including the company owned by sports sensation Usain Bolt. Panton, who was previously denied bail, reappeared in the Home Circuit Court last week and was remanded until May 27. INTERNATIONAL PROBE But the FID said: “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 capitalising 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.” The agency however emphasised that 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. “The meticulous inquiry requires a thorough analysis of the entire period, scrutinising 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,” the FID further disclosed, while noting that “these matters are distinct from the ongoing court case, which centres on a prolonged fraud affecting numerous investors”. ‘In the meantime, the FID’s director general, Selvin Hay is reiterating 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 said. CASE FILE COMPLETE Turning back to Panton’s case, the court was informed that the case file had been completed as well as disclosure to the defence. Panton’s lawyer, Sylvester Hemmings, while acknowledging receipt of the documents, noted that it was a lot of material to go through and that he was yet to take further instruction from his client. Hence, a date was set in May to give him time to comb through the documents and get further instructions. According to a signed statement made to SSL dated January 7, 2023, Panton admitted that she “used various mechanisms to take money from clients” and that she “created false statements to provide to the clients reflecting what they should have in their accounts and not the sum they actually had in their accounts”. The money was taken “over the course of several years” and the value of the client accounts, with the exception of Bolt’s company, Welljen Limited, was over $700 million. Panton said she took approximately 20 per cent of that sum, in addition to another $109 million. Welljen Limited opened an account with SSL in 2012. However, the account’s value plummeted from J$2 billion (US$12.7 million) in October 2022 to J$1.8 million, or US$12,000, in January this year when the fraud was uncovered. Bolt has not recovered any of the money. tanesha.mundle@gleanerjm.com SSL fraud balloons past US$30m Offices of the Stocks and Securities Limited in Kingston. FILE Lester Hinds/Gleaner Writer NEW YORK City Police Department’s First Deputy Commissioner Tania Kinsella has expressed a willingness to meet with the leadership of the Jamaican Police Force to assist with reducing the country’s crime rate, if asked. “WE HAVE trained with the best across the world and have assisted with training police officers around the world. I would be open to leading a mission to Jamaica to assist if I am asked. I would personally head such a team,” Kinsella told The Gleaner in a telephone interview. She pointed out that the NYPD has different ways that it uses to combat crime and officers from the NYPD go all over the world to help tackle and combat crime. She noted, further, that New York City has seen its crime rate drop this year over last year and attribute this to the work of the men and women of the force who work to keep neighbourhoods safe. Saying that Jamaica is like her second home, the highest ranking woman in the NYPD said she has visited the island on numerous occasions, but never in an official capacity. “I go to Jamaica to relax and have a good time when I go. No one knows who I am, but it would be different if I am there on an official visit,” she said. Kinsella’s father is from St Elizabeth and she disclosed that she still has relatives in the parish whom she visits often. FEELS LIKE HOME The daughter of a Jamaican father and a Guyanese mother, Kinsella said she loves Jamaica. “Whenever I step off the plane, the smell of the air, the friendliness of the people, the vibrant culture it is like I am home. I love my ackee and saltfish, my jerk chicken and jerk pork and swimming in the waters of Jamaica,”she said. Kinsella pointed out that, if she could, she would visit Jamaica more often than she does now. Kinsella began her career with the NYPD in 2003 as a police officer patrolling the streets of the 120th Precinct on Staten Island. In 2008, she was promoted to sergeant and assigned to the 68th Precinct in Brooklyn. Another promotion, this time to lieutenant, followed in 2013 and she was assigned to the 13th Precinct in Manhattan. In 2016 she was promoted to the rank of captain and began her executive career in the NYPD as executive officer of the 120th Precinct. She was designated as the commanding officer of Housing Police Service in Area one and was promoted to deputy inspector in 2019. She was promoted to inspector and later deputy chief of patrol. In July this year, she was promoted to first deputy commissioner, making her the second person in charge of all of the NYPD, which has a force of more than 33,000 officers. Kinsella holds a bachelor of science degree in legal studies and a Master’s degree in Police Leadership and Criminal Justice. As the first woman and woman of colour to hold the position of first deputy commissioner in the NYPD, Kinsella told The Gleaner that her success, rising through the ranks of the NYPD, says to young women and girls that they too can achieve their goals. “As a woman in a male dominated profession, it says that having a seat at the table is important and young women and girls can aspire to attain their goals, also,” she said. Speaking about how the Jamaican community in New York City can assist the police department in its fight against crime, Kinsella said if they see something they should say something. “Get involved in your communities. Be a partner in community affairs. This way we all ensure that our community, our city as a whole, is safer,” she said. Kinsella was last Thursday presented with the Consul General’s Heritage Award during a function held at the offices of the Jamaican Consulate in Manhattan, New York. editorial@gleanerjm.com NYPD’s highest ranked woman ready to help Jamaica fight crime Tania Kinsella, first deputy commissioner of the New York Police Department. CONTRIBUTED THE MONTHLY GLEANER | DECEMBER 11, 2023 - JANUARY 10, 2024 | www.jamaica-gleaner.com | NEWS
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