FID: CMU accounting officer charged with embezzlement, fraud over missing student funds

A Caribbean Maritime University (CMU) worker has been hit with 84 criminal charges, including for embezzlement and fraud, following an investigation into the alleged misappropriation of more than $1 million in student funds at the institution. He has since been granted $700,000 bail.

Kevan Anthony Panton, who served as an accounting officer and customer service officer at the Kingston-based university, was arrested on Wednesday, and charged, the Financial Investigations Division (FID) said in a statement on Thursday.

He is scheduled to appear before the Kingston and St Andrew Criminal Court on July 6, 2026.

Panton has been charged with 14 counts each of embezzlement, engaging in a transaction involving criminal property, possession of criminal property, facilitating a transaction involving criminal property, falsification of accounts, and conspiracy to defraud.

The charges followed a joint investigation by the FID and the Special Investigation Branch of the Jamaica Constabulary Force's Constabulary Financial Unit. FID said the probe was triggered by a report submitted by CMU's leadership team.

The FID’s Principal Director of Financial Crimes Investigations Keith Darien said the matter underscored the critical importance of institutional accountability.

"This case highlights why institutions must maintain robust systems for cash handling, receipting, reconciliation and oversight. Where funds are collected on behalf of an institution, there must be clear accountability at every stage," Darien said.

According to the FID, concerns first surfaced in November 2024 during a period of system downtime at the university, when a reconciliation of cashier close-out reports against bank deposits revealed that $970,000 had not been lodged.

Investigators found the funds were later returned by Panton, but the sequence of events was inconsistent with established cash-handling practices.

Further alleged irregularities emerged during the January 2026 examination period, when students presented manual receipts for payments that were not reflected in the university's records, the FID said.

A formal investigation into the university's manual receipting, banking, and receivables posting processes was launched.

That internal CMU investigation reportedly found that the sequence in manual receipt books had been broken and that several receipt books remained unaccounted for. A total of $1,702,000 could not be accounted for from the manual receipts reviewed. Of that amount, J$552,500 has since been returned, leaving a current deficit of J$1,149,500.

Panton and another employee were placed on suspension in January 2026 and a formal report was subsequently made to the FID, the law enforcement body said.

The CMU, in a statement issued Thursday, said it had acted in accordance with its established procedures and fully cooperated with the investigation throughout.

"This matter reflects the effectiveness of the CMU's governance and oversight systems, which are designed to identify and address issues through the appropriate channels," the university said in a statement attributed to President Professor Andrew Spencer.

The university said it remains focused on its core mandate and continues to deliver teaching, training, and research without interruption.

The development marks another chapter in a troubled period for the government-owned maritime institution, which has been pursuing major reforms since a financial scandal in 2019. Former CMU president Fritz Pinnock is among five persons currently on trial for corruption.

The FID reminded the public that the charges against Panton are allegations and that he is presumed innocent unless and until proven guilty in a court of law.

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