Jamaica’s Integrity Fee has revealed that Prime Minister Andrew Holness’ web value elevated by $51.5 million between 2017 and 2021.
The findings had been a part of an investigation into Holness’ 2021 statutory declarations, which stay uncertified.
The fee defined that its calculation of Holness’ web value included the conversion of revenue and belongings from US {dollars} to Jamaican {dollars}. It additionally recognized $4.49 million in unexplained web value modifications for the yr ending December 31, 2021.
“Though the declarant’s web value appeared to align with revenue for some years, the expansion of the web belongings of corporations for which the declarants and shut relations are majority shareholders and the precise contributions of the minority shareholders have to be additional examined,” the fee famous in its report.
The investigation, based mostly on a referral associated to Holness’ 2021 declaration, was expanded to cowl the years 2018 by 2023 to supply a extra thorough examination of the problems.
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Regardless of the fee’s findings, Kevon Stephenson, the director of investigation (DI), famous that he was unable to conclude whether or not there was illicit enrichment as a consequence of a scarcity of entry to Holness’ private bills over the related interval and unresolved questions on corporations linked to the prime minister.
The referenced evaluation didn’t reveal any unexplained progress in Holness’ web value for the yr 2021. The evaluation, nonetheless, revealed unexplained progress in Mr Holness’ web value for the yr 2022.
Holness rejects findings
Prime Minister Holness has rejected components of the Integrity Fee’s report, notably the conclusion that his web value skilled unexplained progress of J$1.9 million in 2022, representing lower than one % of his whole web belongings.
“I reject this discovering based mostly on materiality and significance… I’ve seen an error in figures they’ve used of their calculations, and due to this fact, I problem this discovering on incorrect use of knowledge,” Holness said.
He additional denied claims that he acquired an asset with out adequately explaining the supply of funds, pointing to errors by a monetary establishment. “The Fee, in its personal report, identified that this entire episode began with an incorrect assertion from a financial institution,” Holness defined, including that the financial institution’s verification of his US greenback holdings was inaccurate.
Holness additionally rejected recommendations that he hindered the investigation by not supplying requested info, asserting that he has complied with all authorized obligations. He indicated that he would search authorized recommendation relating to the report’s suggestions, together with potential referrals to different entities.
Holness mentioned he has at all times sought to discharge his duties with respect and dignity and has by no means misplaced deal with making certain a secure, resilient, and rising economic system, decreasing unemployment, bettering our safety as a nation, constructing out infrastructure, and offering assist for probably the most weak in our society.
The prime minister criticized the Integrity Fee’s authorized framework, calling for pressing revisions to enhance its credibility.
