A former manager of sprint legend Usain Bolt, Norman Peart, has been absolved of any perceived wrongdoing relative to the alleged fleecing of millions of dollars from the retired athlete’s account at Stocks and Securities Limited (SSL).
In a statement Friday, the Financial Investigations Division (FID) of the Ministry of Finance said, “contrary to reports in some public spaces, Mr Norman Peart cooperated with investigators”, adding that he was not considered a suspect nor was he treated as such.
Bolt’s attorneys reported last month that the eight-time Olympian champion was fleeced of more than US$12 million in the purported scam at the investment firm, in which eight clients have so far given statements to investigators probing the alleged fraud.
While there is no word on whether Bolt is one of the individuals who has so far provided statements, law enforcers have moved to charge Jean-Ann Panton, an ex-employee of SSL, in the massive fraud probe at the entity.
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Jean-Ann Panton, former wealth advisor at Stocks & Securities Ltd (Photo: SSL via Facebook)
Jamaica News
Ex-SSL employee, Jean-Ann Panton, charged
By Anika Richards
FID reminded that though charges have been laid against Panton, it is still unable to quantify the exact amount that has been defrauded from all the affected accounts.
“However, with respect to Mr Usain Bolt, the sum of his investment has been identified and authenticated,” FID said, though not providing an actual figure.
It added: “Despite the matter being in the public domain for just over a month, it is still very early in the process.
“Statements continue to be collected and interviews conducted.”
For his part, FID’s Chief Technical Director Selvin Hay said additional charges will be laid against other perpetrators in the matter.
“As the investigation progresses, we wish to assure the public that the work into unravelling this fraud is thorough and includes collaboration with local and international agencies,” he said.
“Various lines of inquiry are being pursued, with a view to identifying all connected parties and bringing them to justice.
“As the investigation continues, we will seek to lay additional charges, not only against Ms Panton but against other perpetrators,” declared Hay.
Earlier, the head of the police’s Counter-Terrorism and Organised Crime Investigations Branch (C-TOC), Dr Anthony McLaughlin, said the police were not in a position to say whether other individuals would be charged in the matter as their probe expands.
“Currently, we are not able to say,” McLaughlin said in response to a question during a press conference Friday on whether anyone else has been charged besides Panton.
“So, as soon as it (the investigation) unfolds, then we will be able to ascertain whether other persons will be charged, but if that is so, we will be more than happy to bring it to the attention of the public,” he stated.
McLaughlin was speaking at Friday morning’s press conference hosted by the Jamaica Constabulary Force (JCF), where representatives of the FID were noticeably absent due to court proceedings, JCF’s Senior Communications Strategist Dennis Brooks advised.
McLaughlin, however, confirmed that only Panton has so far been charged in the matter, and she faces the prospect of being slapped with additional charges as the probe continues.
Panton is expected to face the court later today to answer charges of larceny as a servant, forgery and uttering forged documents.
The former SSL wealth advisor is also charged under section four of the Cybercrimes Act with access with intent to commit fraud.
Under the Proceeds of Crime Act (POCA), Panton is charged with engaging in transaction involving criminal property.
Touching briefly on the process leading to Panton being charged, McLaughlin said SSL reported a case of fraud against her on January 11, 2023.
A team was subsequently assembled with police from the JCF’s Fraud Squad, C-TOC and the FID of the Ministry of Finance.
The investigating bodies have also been working closely with the Office of the Director of Public Prosecutions (ODPP), which has guided them on the charges against Panton.
“The team has interviewed eight clients, and these interviews are at various stages, but so far, we are able to charge Miss Panton with a number of offences,” McLaughlin said.
One of the accounts investigated so far has a total of US$4.1 million.
“There are several other accounts under investigation, and let me use this opportunity, as well, to appeal to those clients of SSL, who, once you have proof that your accounts were defrauded, to contact the Fraud Squad at 876-922-2374, and we will carry out the investigations,” assured the head of C-TOC.
