‘DISTASTEFUL’
• Apartment complex dwellers livid as sleuths descend • Charges loom as cops examine material in search of SSL loot
RESIDENTS OF an upscale complex in St Andrew were left fuming on Friday after financial crimes detectives swooped down on the premises to search the home of an alleged schemer in the $3-billion fraud at private investment firm Stocks & Securities Limited (SSL).
Attorney-at-law Kemar Robinson, who is representing the apartment complex, expressed concern about the manner in which the search operation was conducted as he called for a re-examination of how the police handle such matters.
The former wealth advisor at the centre of the probe was present at the premises, along with her attorney, Tamika Harris, while the search operation was being carried out by a team of cops led by Superintendent Anthony Mclaughlin, head of the police’s Fraud Squad.
Several documents and electronic devices, including cell phones, were seized in the threehour operation at the Degenhart Close complex.
A second Corporate Area property connected to the former SSL employee was also searched. The police have not disclosed any potential findings at the second location.
Robinson said some homeowners and tenants at the complex are now concerned about their safety.
“The raid was somewhat intimidating for some of the residents and unnecessary, in my opinion ... . They have to bear in mind that even though they are conducting an investigation, there are law-abiding citizens and children living there,” the attorney told The Gleaner.
He expressed concern that aggrieved SSL clients could try to “go after whatever they think her assets are”, which could put other residents in danger.
“So, for them to take the approach which they took, to be parading through the complex with high-powered weapons, I think that is something that they need to review in the future and be considerate that there are children there. I think their approach could be different,” Robinson added.
He also sought to dispel rumours that the suspect owns the property or any of the apartments as she was merely a tenant, who has been living there for approximately a year.
As journalists milled around, awaiting word from investigators, one irate woman berated those in sight before entering the complex. She protested the “distasteful” sight of police and media vehicles lining the roadway.
“As black people, we love too much gossip,” she added before driving away.
NO RUSH
Senior Superintendent Stephanie Lindsay, head of the police’s communications arm, said that the police were in possession of a sworn statement provided by the suspect, but added that she could not say whether it was a confession.
“Arrest and charge is based on evidence,” said Lindsay. “We know [that with] an investigation like this, you want to make sure you have all the evidence that you need, so they (investigators) are not going to rush in any part of the process. They are going to ensure that everything is meticulously done,” said Lindsay, noting that the former SSL employee, who was on location in a wheelchair as the search took place, had not been arrested or charged.
Lindsay said the woman has not been considered to be a flight risk.
Prime Minister Andrew Holness broke his silence on the matter on Friday, noting that the alleged $3-billion fraud was of “national concern”.
Holness’ statements came a day after Finance Minister Dr Nigel Clarke promised that there would be full disclosure as the matter is investigated.
In a media release, Holness said he was “thoroughly disgusted” and “upset” by the revelations, adding that he is sympathising with the “hardworking Jamaicans, who, at this moment, are uncertain of the status of funds they have invested with the institution in question”.
The prime minister said he had received a general briefing on the matter from Clarke; representatives of the Financial Services Commission (FSC), the regulator; the Financial Investigations Division (FID) in the finance ministry; Police Commissioner Antony Anderson, and the Attorney General’s Chambers.
“While every investor’s distress must be equally acknowledged, there is a dimension of a heightened public sense of betrayal, which I share, that a national icon who has brought so much pride to all of us is also a victim of the alleged fraud,” Holness said in reference to retired sprinter Usain Bolt, who is among dozens of account holders affected.
Holness further stated that he was “satisfied that the [relevant government] entities understand the implications and the potentially complex nature of this matter, and the need for transparency, diligence, and prudence in all their operations”.
In a release on Friday, the FID said that after the items have been analysed, the suspect would be taken in for questioning with a view to pressing charges.
The FID has collaborated with the Financial Services Commission, which is the regulator of non-deposit-taking institutions.
The case has been described as a “complex one”, due to the number and types of accounts affected, the number and types of transactions conducted on the affected accounts, and the length of time – over a decade – during which questionable actions were taken against some accounts.
“We wish to assure the public that the work into unravelling this fraud will be thorough with a view to identifying all connected parties and bringing them to justice,” said FID Chief Technical Director Selvin Hay.