Dear Claudienne,

I am seeking your assistance regarding a serious dispute I am currently experiencing with Sagicor Investments.

I was recently informed that my investment account has allegedly been in an overdraft position for the past six years. This came as a complete surprise to me, as I was never notified of any such issue during that period. As a result of this discovery, my ability to conduct regular transactions has been restricted, which is directly affecting my capacity to earn income from my investments.

I have formally disputed the matter and requested a detailed breakdown of the transactions, copies of any prior notifications, and an explanation as to how such a situation could persist for such an extended period without my knowledge. However, given the seriousness of the allegation and the potential financial and reputational implications, I believe this matter warrants independent review.

I am therefore requesting your assistance in initiating or facilitating an external investigation into this issue to ensure transparency, accountability, and a fair resolution. My primary concern is to establish the facts, determine how this situation occurred, and ensure that I am not held liable for transactions or deficiencies of which I had no knowledge or involvement. My next steps would be to contact the FSC and FID because I believe this is fraud-related.

This situation is extremely distressing, particularly as I have always been diligent in managing my financial affairs to avoid precisely this type of exposure.

I would greatly appreciate any guidance or support you can provide in addressing this matter promptly and effectively.

Thank you in advance for your assistance.

TB

Dear TB,

The Tell Claudienne column has been in communication with the Sagicor asssistant vice-president, investment client service and the manager of Sagicor Communications Group.

You have informed the column that the overdraft issues on your account have been resolved.

Your email stated the following:

“I was contacted by Ms X from the Sagicor Investments team who took the time to clearly explain how the issue with the overdraft on my account arose and confirmed that the matter has now been resolved. During our discussion she also informed me that a refund in the amount of $22,000.00 from the FESCO IPO in 2021 had been available in an account and that it was possibly an oversight that I was not notified of this by the representative at the time.

Ms X further explained that, in circumstances where an initial public offering (IPO) is being processed — particularly where thousands of accounts are being created, and millions of shares are being allocated — there is a possibility that administrative oversights may occur, coupled with the transition of other members of staff. She also outlined the importance of the online platform in managing transactions, and indicated that occasional misalignment can happen when broker-assisted transactions are conducted simultaneously.

I reminded her that my primary concern throughout this matter was simply to have someone reach out and provide a clear explanation regarding the overdraft on my account since September 9, 2019, and the funds from the FESCO IPO that had been held since 2021 without my knowledge, and to ensure that the funds are transferred into my JTrader account as soon as possible so that they can be put to productive use.

Ms X expressed her sincere apologies for the inconvenience caused, and I wish to acknowledge and thank her for her professionalism, transparency, and the swift resolution of the matter.”

We wish you all the best.

Have a problem with a store, utility, or company? Telephone 876- 936-9436 or Cell/WhatsApp # 876-484-1349 or write to: Tell Claudienne c/o Sunday Finance, Jamaica Observer, 40-42 1/2 Beechwood Avenue, Kingston 5; or e-mail: edwardsc@jamaicaobserver.com. Please include a contact phone number.