Williams stresses need for legal caution before sharing SSL forensic report
Llewellyn says prosecution ready to try Bolt fraud case
Published:Monday | February 17, 2025 | 10:08 AMKimone Francis/Senior Staff Reporter
Minister of Finance Fayval Williams says she will take guidance on whether the forensic audit report on scandal-scarred Stocks and Securities Limited (SSL) can be shared with the public after investigative and legal work is done.
Williams told The Gleaner yesterday that any release of the report compiled by the United Kingdom-based forensics firm KROLL would pre-empt the work being done by the Financial Services Commission (FSC), the Financial Investigations Division (FID), and the Office of the Director of Public Prosecutions (ODPP).
“After they’ve completed their work and I am so guided, then it would be, if I am guided to doing that,” Williams said outside of Gordon House on Thursday.
Her comment comes as her opposition counterpart, Julian Robinson, presses for the release of the report, which, he said, has been “disturbingly” and “selectively” leaked to a media house to “discredit” track and field legend Usain Bolt, who was among clients of SSL who were defrauded of millions of dollars.
The world record holder in the 100m and 200m reportedly invested US$6.2 million, through his holding company Welljen, with SSL, a problem-plagued company regulator FSC failed to bridle despite years of questionable practices.
More than 200 accounts have been impacted by the US$30 million, or approximately J$4.7 billion, fraud first reported publicly in January 2023.
“I am calling for two things: one, for the Government to release that forensic report in its totality, not to continue this exercise of picking and choosing sections of the report and sending it to specific media houses, but to put the entire report on the table so that all Jamaicans can see what took place,” said Robinson.
He also wants the Government to give an update on the status of investigations. He mentioned the file sent to Director of Public Prosecutions (DPP) Paula Llewellyn months ago but said its status was still unclear.
In March 2024, the ODPP said it had not ruled on whether further charges should be laid in the fraud case because it is still awaiting outstanding documents from the FID.
Bolt’s company filed a lawsuit against SSL and Jean-Ann Panton, a former client relationship manager at SSL, to recover damages of US$6.2 million, the original sum he invested, which reportedly grew to US$12.7 million.
Welljen’s account was opened at SSL in 2012. The sprint legend said the funds were for his retirement.
Panton is the only person charged in the matter so far. She is facing a 22-count indictment after being charged with forgery, larceny as a servant, and engaging in a transaction involving criminal property.
Ready to prosecute
On Thursday, Llewellyn told The Gleaner that the outstanding documents from the FID were not related to Bolt’s case. She said the prosecution is ready to prosecute the case related to Bolt and that Panton is the only one facing charges in that matter.
Speaking on an episode of local podcast The Fix, posted online on Monday, Bolt expressed frustration about not being updated on the investigation. Additionally, he said the Government had not done enough to assist him in recovering his funds.
“We need to remember that Mr Bolt is one of hundreds of persons who were defrauded in SSL, so he has a right to raise these questions. These are the same questions not so well-known persons who were defrauded are also raising, and the response cannot be to chastise him for doing so,” said Robinson.
“He has been extremely responsible and restrained in not going public internationally with these issues because it would have a detrimental impact on the country and the perception of the investment climate in the country. Now, to be greeted with this response for somebody who has done so much for the country ... . So Government must put the report on the table,” he insisted.