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JLP urges owners of fraud-hit SSL to compensate Bolt and others
Usain Bolt
Latest News, News
October 4, 2024

JLP urges owners of fraud-hit SSL to compensate Bolt and others

The governing Jamaica Labour Party (JLP) is urging the proprietors and accountable officers at fraud-hit Stocks and Securities Limited (SSL) to ensure that Jamaicans, including sprint legend Usain Bolt, are restored with funds they invested with the company in good faith.

The party is also rejecting what it describes as “barefaced lies being told by PNP (People’s National Party) operatives” who it said seeks to connect Prime Minister Andrew Holness and the Government to wrongdoing at SSL.

The statement from the party follows a series of cryptic tweets by Bolt this week which led to speculation whether the sprint icon was lashing out at authorities due to him not recouping his multi-million-dollar investment in the entity.

READ: Bad news for Bolt

Last month, SSL indicated that it is advanced in its plans to pay back thousands of clients, noting that the payout is largely from the proceeds of the International Securities Client Portfolio sale, with an approximate value in excess of US$30 million or J$4.7 billion.

However, the JLP says it is not satisfied with the pace of the payback and is urging the owners of SSL to do right by Bolt and others who have not recouped their funds which were allegedly fleeced by at least one employee of the investment company, wealth advisor Jean-Ann Panton, who is now before the courts.

Since January 2023 the investment house has been embroiled in the fraud scandal involving the loss of more than $3 billion from 200 accounts including that of Bolt who reportedly lost more than US$12 million.

Tags:

Jamaica Labour Party JLP SSL Stocks and Securities Limited Usain Bolt
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