The Financial Investigations Division (FID) says Jean-Ann Panton, the former employee at the centre of the multi-billion-dollar fraud at Stocks and Securities Limited has been charged.
Panton has been charged with breaches of the Larceny Act, the Proceeds of Crime Act (POCA), the Forgery Act and the Cyber Crimes Act.
Prior to charges being laid, Panton was interviewed by investigators in the presence of her attorney between Tuesday and Thursday.
Panton, who had signed a confession during interviews with her employees admitting to defrauding almost 40 customers of SSL, is scheduled to appear in the Supreme Court on Friday.
The FID noted that searches were conducted on two premises in the Corporate Area connected to her on January 20. The search operations were done in the presence of Panton and her attorney.
“This resulted in the seizure of documents and electronic devices to include telephones which, along with other evidence, continue to be thoroughly analyzed,” said the FID, which is conducting the probe as a joint investigation with the police Fraud Squad, the United States Federal Bureau of Investigation, and other agencies.
“As indicated in a previous communication, the case is complex for three main reasons; the number and types of accounts affected; the number and types of transactions conducted on the affected accounts; and the length of time (over a decade) during which questionable actions were taken against some of the affected accounts,” added the FID.
In a release on Friday, the FID’s Chief Technical Director Selvin Hay said: “As the investigation progresses, we wish to assure the public that the work into unravelling this fraud is thorough and includes collaboration with local and international agencies. Various lines of inquiry are being pursued with a view to identifying all connected parties and bringing them to justice. As the investigation continues, we will seek to lay additional charges, not only against Ms Panton, but against other perpetrators.”
Hay added, “We have the early benefit of the Office of the Director of Public Prosecution working closely with the investigators in advising the evidence development. We’ve had to be deliberate and meticulous in the process of verifying and authenticating the information and intelligence received so far. When the matter is presented in the courts, our submissions must demonstrate clear, irrefutable evidence against all who stand accused.”
