KINGSTON, Jamaica, Dec 27, CMC – A former high-level executive of the collapsed investment firm Stocks and Securities Limited (SSL) has reportedly been taken into police custody as security forces on Saturday launched coordinated search-and-seizure operations targeting senior figures linked to the firm.
The raids, which form part of the long-running investigation into the alleged multibillion-dollar fraud at SSL, were being carried out at four locations – three in St Andrew and one in St James – under warrants issued by law enforcement.
The operation involved a joint force comprising the Financial Investigations Division (FID), the Constabulary Financial Unit (CFU), and the Jamaica Constabulary Force’s Counter-Terrorism and Organised Crime Investigation Branch (C-TOC), with support from the Major Organised Crime and Anti-Corruption Agency (MOCA).
In a statement early Saturday, authorities asked the public to “remain calm and avoid operational areas where possible” while the searches are ongoing.
The SSL fraud saga first came to light in January 2023. The only person formally charged to date is former SSL employee Jean-Ann Panton, who faces multiple offences. In December 2023, the FID submitted a case file to the Office of the Director of Public Prosecutions, signalling the possibility of additional charges, though officials later noted that outstanding issues had affected the assessment of the file.
Welljen Limited, a company owned by sports legend Usain Bolt, is among more than 200 clients affected by the firm’s collapse, according to law enforcement sources.
Officials said the operation represents a significant tactical deployment designed to advance the investigation and bring further accountability in the long-running SSL case.
CMC/ed/25