Two men charged in Jamaica’s first prosecution under the Microcredit Act have indicated their intention to plead guilty to the charges.

Otis Williams and Nevin Forbes appeared before the Kingston and St Andrew Parish Court on July 9 in the matter involving Forbes Affordable Loans Ja Limited.

Both defendants were present and represented by legal counsel, Davian Vassell, who indicated that the matter is not expected to be protracted, as the defendants intend to accept the charges, according to a release by the Financial Investigations Division (FID).

The court extended bail for both men with conditions, including that they are required to report to the Greater Portmore Police Station three days per week, while both have been directed to surrender their travel documents with immediate effect.

The presiding judge also made a stop order preventing both defendants from departing Jamaica pending the conclusion of criminal proceedings. The order, which alerts border control authorities – including the Passport, Immigration and Citizenship Agency (PICA) – to flag the defendants at all legal ports of entry and exit, reflects the court’s interest in ensuring the defendants remain in the country. A fingerprint order was additionally made, requiring both men to submit their fingerprints to the police.

The matter has been set for case management on November 5, 2026.

Williams and Forbes were originally charged on June 24, 2026, following an operation by the FID’s Constabulary Financial Unit with support from the Jamaica Constabulary Force’s St Catherine South Division.

They are alleged to have provided microcredit services without a licence, contrary to Section 9(1) of the Microcredit Act.

Under the Act, individuals found guilty of this offence face fines of up to J$1 million or imprisonment of up to six months, while corporations may be fined up to J$2 million.

The FID reminds the public that the charges against Williams and Forbes remain allegations and that both men are presumed innocent unless and until proven guilty in a court of law.

The public is encouraged to verify that any lender or financial service provider is properly authorised before transacting. A list of licensed microcredit institutions is available at the BOJ’s website.

The FID said it is intent on protecting the integrity of the financial sector, and therefore urges all participants to ensure that they have the relevant license(s) and comply with all requirements under the law.