Llewellyn: We’re ready to try Bolt fraud case

Jamaica’s chief prosecutor says the outstanding Financial Investigations Division (FID) documents that will determine if other charges are laid in the multibillion-dollar Stocks and Securities Limited (SSL) fraud matter have nothing to do with the case concerning track and field legend Usain Bolt.

On Thursday, Director of Public Prosecutions (DPP) Paula Llewellyn confirmed to The Gleaner that her team is ready to prosecute the case against former SSL client relations manager Jean-Ann Panton, the only person charged in the matter where Bolt and several other SSL clients’ accounts were defrauded of millions of dollars.

The multibillion-dollar fraud and irregularities that were uncovered at the investment company in January 2023 ballooned past US$30 million, or J$4.7 billion, with more than 200 accounts impacted.

Panton is facing a 22-count indictment after being charged with forgery, larceny as a servant, and engaging in a transaction involving criminal property.

Llewellyn said Bolt’s matter, along with several other complainants, has been reflected as it relates to the 22-count allegations against Panton.

“In respect of Bolt, cumulatively, there are about five different counts [including] larceny as a servant and engaging in a transaction involving criminal property. The sum that is alleged in respect of the fraud where Welljen is concerned, that’s Bolt’s company, is US$6 million,” said Llewellyn.

Bolt interview

Bolt complained, during an episode of local podcast The Fix, posted on Monday, that the Government was not doing enough to conclude the matter or assist in recovering his funds.

He said he is also yet to get an update on the status of the investigations after exercising two years of patience.

However, Llewellyn has defended the process, asserting that she follows the law and evidence.

“There are a number of complainants. It is an unfortunate scenario, but when last I checked, it was a private entity, and as far as I am aware, when people are going to use investment firms, I think that there are certain things there that acquaint them with risks that they are taking.

“As in so many other cases, when we are dealing with allegations of fraud, we can always understand the concerns of complainants, and in this matter, Mr Bolt is one of quite a few complainants. With the material my team has gone through, we have indicted 22 counts. There are seven or eight complainants on the indictment, including Mr Bolt’s company Welljen … , he gave a statement,” said Llewellyn.

She said that as far as the matter was concerned, her team is ready to prosecute the case.

She said the matter has been in criminal case management but that Panton has changed her attorneys, suggesting that this is where the delay is.

“One hand cannot clap. We are ready to try the case. This is a very complex, voluminous matter. My team went through it. That is how we were able to prepare the indictment. As to whether the defence is ready, that is another matter. In the justice system, I can say this is not a banana republic. The law says when it comes to due process, fairness is at the heart of it,” said Llewellyn.

She argued that when the prosecution prefers an indictment in any matter, including fraud, it must follow the law and evidentiary material available.

She said it is documentary material that will help to prove a case beyond a reasonable doubt.

“There is no room for speculation. So when we sifted through all the material, we saw the allegations which covered the ingredients of the offences as it related to Mr Bolt and several other complainants. But at the end of the day, we follow the law and the evidentiary material including documents that are available,” Llewellyn said.

She said as it relates to other charges being laid, her office is still awaiting documents from the FID.

Llewellyn said her office is anticipating that by the end of February, the documents will be forthcoming.

kimone.francis@gleanerjm.com