Holness: ‘I have never borrowed from SSL’
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Analysis
The article centers on a multibillion-dollar fraud at Stocks and Securities Limited (SSL) and links it to government accountability through statements about potential conflicts of interest and disclosure by Cabinet Ministers. It also references investigations by Jamaican authorities (Fraud Squad and FID).
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Prime Minister Andrew Holness says he is no longer a client of Stocks and Securities Limited (SSL), having closed his account at the institution in 2021, and has never borrowed money from the fraud-hit brokerage firm.
“I have no funds currently with SSL and I have not done any business with SSL since September 2021. I wish to also make it clear that neither I, nor any member of my family, have ever borrowed from SSL or received any form of credit facility from SSL,” Holness said in a statement on Tuesday afternoon.
READ:Clarke confirms existence of Bolt-owned account at SSL
Holness’ declaration comes amid the ongoing investigation into the multibillion-dollar fraud at SSL which has garnered international attention.
He said he had opened the account with SSL in 2008 and closed it in September 2021.
“In September 2021, I liquidated the last remaining financial instrument managed by SSL on my behalf and gave instructions for my account to be closed. I have no funds currently with SSL and I have not done any business with SSL since September 2021,” the prime minister said.
The prime minister said, in line with government’s commitment to transparency in the probe, he has asked all Cabinet Ministers to check and disclose the status of any accounts or investment relationships their ministries or agencies may have with SSL.
“These current allegations of fraud at SSL and the international attention it has drawn to our financial sector requires a commitment to the highest level of transparency, probity and accountability,” Holness said. “The public must be assured that the political class has no ‘conflict of interest’ that would prevent, delay or dilute efforts to ensure that the truth of the allegations is uncovered, those responsible are held to account and the victims receive justice.”
Retired track superstar Usain Bolt is among at least 30 people impacted by the still-unfolding fraud which is being investigated by the police Fraud Squad and the Financial Investigations Division.
Attorneys representing the Olympian have indicated that US$12.7 million, or nearly $2 billion, has been fleeced from Bolt’s account. They have given the management of SSL until January 27 to pay over the stated sum or face legal action.
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