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Jamaica: Finance minister promises no stone will be left unturned in SSL probe


by Dashan Hendricks (Jamaica Observer) Finance Minister Dr Nigel Clarke has promised full transparency into the issues which led to fraud at Stocks and Securities Limited (SSL), including the role and decisions of the Financial Services Commission (FSC) in dealing with the matter.

Clarke gave the assurance in a statement late Thursday evening, hours after he announced that the executive director of the FSC, Everton McFarlane, had resigned from the post, one day after facing the press about the multi-billion-dollar fraud at SSL, which is yet to be fully quantified.

“There will be full transparency. No stone will be left unturned in unearthing exactly how funds were allegedly stolen, who benefited from such theft, and who organised and collaborated in this,” Clarke said in his statement.

“The probe will also seek to identify whether assets have been acquired with the proceeds of this fraud. If and when such assets are identified, all legal steps will be taken to restrain these assets with the intention of full forfeiture,” the finance minister said.

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