Retired sprinter Usain Bolt attends a information convention after a zero gravity situations flight in a specifically modified aircraft above Reims, France, Sept. 12, 2018.
REUTERS / Benoit Tessier, File
Almost two years after roughly US$13 billion had disappeared from his accounts at Jamaica’s now disgraced Shares and Securities Restricted (SSL), former world observe and subject icon Usain Bolt and different defrauded buyers are set to be repaid most of their invested funds.
The SSL this week introduced plans to repay robbed buyers two years after coming inside ‘inches’ of collapsing after a number of workers had raided the accounts of individuals like Bolt. The sprinter, who nonetheless holds the world document for the lads’s 100 meters at 9.58 seconds and the 200 meters at 19.19, had been alerted to an empty account by an ex-SSl worker, triggering an enormous investigation, some dismissals and a police probe into the operations of the securities company.
The company, in a launch, acknowledged that plans are at a sophisticated stage to pay out greater than $30 million to greater than 200 purchasers who’ve been ready patiently for greater than a yr because the scandal broke in late 2022. The state regulator, the Monetary Providers Fee (FSC), has ordered the SSL to start the payout quickly.
“The fee assures all stakeholders that it’s devoted to sustaining transparency and accountability all through this course of and can present additional updates as obligatory,” mentioned Government Director Keron Burrell.
“The FSC stays resolute in its mission to facilitate the truthful therapy of SSL buyers. This vigilant oversight is essential to making sure that SSL meets its obligations to purchasers in a well timed and clear method, in alignment with the authorized and regulatory framework established by the Securities Act. The fee assures all stakeholders that it’s devoted to sustaining transparency and accountability all through this course of and can present additional updates as obligatory.”
The 2 our bodies acknowledged they’d raised cash for the payout by promoting a portion of their worldwide securities consumer portfolio, which raised $30 million.
The payout comes as SSL is present process a court-monitored winding-up course of underneath the management of a authorized trustee.
To date, police have charged just one individual with fraud. She is former SSL Shopper Relationship Supervisor Jean-Ann Panton, who’s going through a 21-count indictment for forgery, larceny as a servant, and associated expenses.
