ADMINISTRATORS of Caribbean Maritime University (CMU) have described the arrest of one of its staff members for misuse of students’ funds, as proof that its internal checks and balances work.

In a release on Thursday, shortly after the Financial Investigations Division (FID) announced that Kevan Anthony Panton, an accounting/customer service officer employed to CMU, was arrested and charged in relation to alleged financial irregularities involving student funds, Principal Professor Andrew Spencer said the matter had been identified through its internal monitoring processes.

“The university acted in accordance with its established procedures and has fully cooperated with the investigation throughout. This matter reflects the effectiveness of the CMU’s governance and oversight systems, which are designed to identify and address issues through the appropriate channels,” said Spencer.

“The CMU remains focused on its core mandate and continues to deliver teaching, training, and research without interruption,” Spencer added.

In its release the FID confirmed that it had been contacted by the CMU leadership team and conducted extensive investigations which resulted in an operation to apprehend Panton.

The operation was executed by police officers assigned to the Special Investigation Branch of the JCF’s Constabulary Financial Unit and the FID.

After his arrest Panton participated in a question-and-answer session in the presence of his attorney, after which he was charged with 14 counts each of embezzlement; engaging in a transaction involving criminal property; possession of criminal property; facilitating a transaction involving criminal property; falsification of accounts; and conspiracy to defraud.

He was granted bail in the sum of $700,000.00 and is scheduled to appear before the Kingston and St Andrew Criminal Court at Half-Way-Tree on July 6.

According to the FID, the allegations stem from concerns first identified in November 2024 during a period of system downtime at the university. During reconciliation of cashier close-out reports against bank deposits, it was identified that $970,000 had not been lodged.

Further investigations indicated that the funds were later returned/lodged by Panton; however, the sequence of events remained inconsistent with expected cash-handling practices.

Additional concerns arose during the January 2026 examination period when students presented manual receipts for payments that were not reflected in the university’s records. This triggered a formal investigation into the manual receipting, banking and receivables posting processes.

The investigation revealed that the sequence in manual receipt books had been broken and that several receipt books remained unaccounted for.

A total of just over $1.7 million could not be accounted for from the manual receipts reviewed. Of that amount, $552,500 has since been returned/lodged, leaving a current deficit of just over $1.1 million.

Panton and another employee were placed on suspension in January 2026. A report was subsequently made to the FID.

The FID’s Principal Director of Financial Crimes Investigations Keith Darien said the matter underscores the importance of strong internal controls and timely reporting when financial irregularities are suspected.

“This case highlights why institutions must maintain robust systems for cash handling, receipting, reconciliation and oversight. Where funds are collected on behalf of an institution, there must be clear accountability at every stage,” said Darien.

“The FID will continue to work closely with our law enforcement and institutional partners to investigate suspected financial crimes and ensure that matters supported by evidence are placed before the court,” added Darien.

This is the second major fraud case allegation surrounding the CMU, whose former head Professor Fritz Pinnock is one of five people accused of defrauding CMU and the Ministry of Education of more than $25 million.

The other accused in that case are former Minister of Education Ruel Reid, his wife Sharen, their daughter Sharelle, and Jamaica Labour Party councillor Kim Brown Lawrence.