A former loans manager at a leading financial institution has been fingered as a major suspect in an $85-million fraud ring that was smashed by cops from the Organised Crime Investigation Division (OCID).
Head of OCID Superintendent Clifford Chambers told the Jamaica Observer yesterday that the former loans boss was fired from the bank after the suspected fraud was discovered.
Two other persons who have been listed as persons of interest handed themselves in to the police yesterday and are now in custody.
One of the two is expected to be charged soon, Chambers said.
Police report that loans were disbursed to several persons who supplied the bank with false information about their identities, addresses and non-existent businesses.
The police said while some of the loans were being serviced, several were not being paid back. Some of the fictitious borrowers had accessed more than one loan and were using one to pay back the other.
The alleged fraudulent activity took place between June 3 and July 3 last year, but was only recently discovered by the financial institution.
"It was because of an inside link why it took the bank so long to find out," Chambers said.
On Wednesday, businessman Rohan Ennis of Dennis Avenue was remanded in custody after he appeared in the Corporate Area Resident Magistrate's Court to answer to charges of forgery, uttering forged documents, conspiracy to defraud and obtaining money by means of false pretence.
The court was told that Ennis was granted two loans under false pretences that totalled $15 million, of which $10 million was used to allegedly purchase a BMW X6 sports utility vehicle.
The vehicle has been seized by the cops.
Ennis was collared and slapped with the charges on December 27.
Police have also named the suspected mastermind behind the elaborate scheme and are trying to contact 10 individuals who they say are persons of interest in the case.
Chambers pointed out that not all persons of interest were suspected of criminal involvement in the fraud ring and said seven more persons have made arrangements through their attorneys to attend the OCID office by 5:00 pm today.