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Embattled brokerage house Stocks and Securities Limited, SSL, says a fund has been established to compensate victims of the alleged multi-million dollar fraud uncovered in January 2023.
This was revealed in a letter dated April 3, 2025 directed to potential and contingent SSL claimants and creditors.
Mahiri Stewart reports.
SSL has been shrouded in controversy after an investigation launched in January 2023 revealed one of the biggest investment frauds in Jamaica’s history.
The multi-million dollar fraud saw many who invested lose millions, including sprint legend Usain Bolt.
Through its court appointed trustee, SSL has announced that a fund, labelled “The SSL Victims Compensation Fund” has been established.
It says this is to facilitate payouts to victims of the alleged fraud.
SSL adds that it is seeking to make a partial distribution to the affected clients in May.
It is inviting all affected clients to submit their proof of claim by April 30.
SSL says the submission should include any supporting documentation or other forms of evidence to substantiate actual losses suffered due to the alleged fraudulent activities.
Former wealth advisor at SSL, Jean Ann Panton, is the sole accused in the multi-billion-dollar fraud investigation to date.
She’s facing over twenty charges, to include forgery, larceny as a servant, and engaging in a transaction involving criminal property.
Panton is accused of defrauding over forty people who had investments at the firm.
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