PNP calls for MOCA to bring greater urgency and seriousness to SSL fraud probe
KINGSTON, Jamaica — The Opposition People’s National Party, in a release on Thursday, has called for greater urgency and a more deliberate approach on the part of the Government, with respect to the investigation surrounding the allegations of fraud at Stocks and Securities Limited (SSL).
Opposition Spokesperson on Finance and Planning Julian Robinson said, “In light of the attempt by principals of SSL to voluntarily wind up the company, the Opposition is concerned that not enough is being done to prevent further compromise of the case and to protect the investing public.”
Robinson also claimed that the current arrangements are ‘problematic’ and refers to the number of leaks coming from a specific media house and insinuates that this tactic is a ‘manipulative attempt to shape the narrative of the case.’
Robinson questioned whether the interim manager has been provided the adequate resources to manage this crisis.
“Given that the data management systems at SSL are still permeable, what resources have been made available to the interim manager to cauterise the exposure and prevent further compromise? ” Robinson asked.
“It is normal in large and complex insolvency situations for an external accounting firm to be engaged to provide technical and administrative support to the temporary manager, receiver or liquidator. This support needs to be arranged forthwith.”
Robinson also suggested that it is “highly inappropriate” for the interim manager to be dependent on the current staff of SSL as some may be implicated or otherwise compromised by conflicts of interest “as support in this complex fraud investigation and to bring order to the operations of the business.”
The Opposition, who believes the Major Organised Crime and Anti-Corruption Agency (MOCA) remains the best placed organisation to lead this investigation-being an independent law enforcement entity focused on eliminating major crimes of corruption, also questioned why they haven’t been deployed.
In concluding the release, Robinson urged the importance of “preserving the integrity of our financial sector and Jamaica’s international reputation” as the world looks on and reiterated that “we have a duty to protect the interests of the hard-working Jamaicans who entrusted their money to an institution.”
