KINGSTON, Jamaica — Three individuals have been taken into police custody following a coordinated early-morning operation by multiple law enforcement agencies as the probe intensifies into the multi-billion fraud at Stocks and Securities Limited (SSL).

The operation, carried out at approximately 4:30 am, involved officers from the Financial Investigations Division (FID), the Constabulary Financial Unit (CFU), the Special Operations Unit of the Counter-Terrorism and Organised Crime Investigation Branch (C-TOC), and the St James Police Division. They were supported by the Major Organised Crime and Anti-Corruption Agency (MOCA).

READ: Major multi-agency raids underway as part of SSL fraud probe

According to a release, four search warrants were executed at one location in the Kempshot district, St James, and three addresses in St Andrew. The operation targeted former directors of SSL.

Two of the individuals taken into custody have been identified as former SSL directors Hugh Croskery and Sarah Meany. Croskery was found at a Wickham Avenue address in St Andrew, where investigators seized electronic devices and several documents. He was detained on reasonable suspicion of breaches of the Bank of Jamaica Act, Securities Act, Larceny Act and Banking Services Act.

READ: Former SSL executive in custody

Searches were also conducted at the Kempshot residence of the Meanys, where investigators recovered SSL-related documents and multiple electronic devices. Meany was taken into custody on reasonable suspicion of similar breaches of financial legislation linked to her involvement at SSL.

A third individual, Dermot Meany, was arrested during the operation in relation to a breach of the Firearms Act. Although a licensed firearm holder, he was reportedly found with ammunition in excess of the legally permitted amount.

Meanwhile, former SSL and Delta Partners CEO Zachary Harding reported to the FID and C-TOC and is being questioned in the presence of his attorney. Investigators say his questioning relates to reasonable suspicion of breaches of the Bank of Jamaica Act, Securities Act, Banking Services Act and Companies Act.

Authorities said all matters arising are being assessed and that the evidence collected is undergoing forensic examination.

Further updates will be provided as the investigation continues.