FBI Now Involved in SSL Fraud Scheme
According to reports, the FBI (Federal Bureau of Investigation) has been brought onto the case to assist the Fraud Squad and FID in investigating the multi-million-dollar Fraud scheme that is currently consuming the SSL (Stocks and Securities Limited).
In the latest media report by Nationwide Radio, Dr. Nigel Clarke, the Minister of Finance, stated that “the FID and the Fraud Squad have sought the help of the FBI to assist them in the multi-million USD fraud scandal rocking SSL.”
According to the minister, the FSC (Financial Services Commission) has never had a sit down with him about any problems that the SSL was having, but that the FSC will be releasing a regulatory chronology of their oversight at the financial institution from the years comprising 2010 through 2023.
The managers and executives at SSL, as they cannot be absolved of blame in the current situation, must be able to explain how they oversaw the day-to-day proceedings at the firm. It was also relayed that because of suspicious activity, SSL was put under a microscope by the FSC in June of last year.
Minister Clarke stated that the powers that be will ensure that they get to the bottom of this and that an important question that will be asked by the government is, “How did this alleged fraud go undetected for 13 years between 2010-2023 with external auditors?” It was reported that the GOJ (Government of Jamaica) will move forward by strengthening the regulations currently imposed on the financial sector and that the GOJ has requested the intervention of the internal forensic auditors to disentangle the knot that is a 13-year-old alleged scheme.
Mark Croskery, Former Chief Executive Officer of SSL, released a statement today in order to distance himself from the controversy surrounding the Fraud at the financial institution. He stated that he was unaware of “any fraud at SSL during my tenure.”
He made it clear that he had resigned as the CEO of SSL since 2018 and has since then had no association or communication with any of the current directors, client managers, and management teams. Croskery also mentioned that he does not know of any attempts made by any investigating parties to contact him, but that he is aware of multiple defamatory statements posted about him online.
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Additionally, because of said comments, he is poised to take legal action.
See the full statement by Croskery below:
It was decided that the BOJ (Bank of Jamaica) would take the reins to control the financial sector as the FSC’s conventional take on reintegrating errant bodies should be made obsolete.
