‘Nothing to do with me’: Former SSL boss Mark Croskery distances himself from fraud scandal
Mark Croskery

Mark Croskery, the former chief executive officer of Stocks and Securities Limited (SSL), has distanced himself from the multibillion-dollar fraud that has engulfed the entity, stating that any issues concerning the company have nothing to do with him.

In a statement on Monday, Croskery said he was not aware of any fraudulent activity at the entity during his tenure, which came to an end when he resigned effective March 2018.

“I have had no contact with SSL’s directors, management or the team which manages client accounts. I am not aware of any fraudulent activity at the entity during my tenure there. Consequently, the issues raised in the public domain concerning SSL have nothing to do with me,” the statement read.

Croskery added that he is unaware of any efforts made by investigators to contact him.

According to the former CEO, he will be pursuing legal action to protect his reputation from what he describes as “false and defamatory allegations made on social and traditional media platforms”.

Last week, OBSERVER ONLINE broke the story of fraudulent activities at SSL amounting to more than $1.2 billion. Olympian Usain Bolt was among more than 30 people whose investments had been affected.

Croskery stated that he hopes that “those who've reportedly suffered losses are made whole in the shortest possible time.”

Earlier Monday, Finance Minister Dr Nigel Clarke announced that the United States’ Federal Bureau of Investigation has been called in to assist local authorities in the investigation of the massive fraud at SSL.

“The investigative authorities have full operational independence and will pursue the facts wherever they may lead,” he continued. “They will unearth exactly how funds were allegedly stolen, who benefited from such theft and who organised and collaborated in this,” Clarke said.

READ: WATCH: FBI called in to assist in SSL fraud probe

Clarke also named Bank of Jamaica (BOJ) Governor Richard Byles as the new chairman of the Financial Services Commission (FSC).

He also announced that BOJ executives Wayne Robinson, senior deputy governor; George Roper, deputy governor; and Jide Lewis deputy governor will serve on the FSC board.

All appointments will be effective Monday.

READ: Byles named FSC board chairman

Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at https://bit.ly/epaper-login

HOUSE RULES

  1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper; email addresses will not be published.
  2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.
  3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.
  4. Please do not write in block capitals since this makes your comment hard to read.
  5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.
  6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.
  7. Lastly, read our Terms and Conditions and Privacy Policy