The fraud lasted 13 years and also ensnared elderly clients and government agencies. Authorities don\u0027t yet know how much was stolen.
“The anger and unease we all feel have been magnified by the long duration — 13 years — over which the fraud was allegedly perpetrated, and the fact that the seemed to have deliberately and heartlessly targeted elderly persons, as well as our much loved and respected national icon ⦠Usain Bolt,” Clarke said.
Government agencies including the National Health Fund, Jamaica’s Agricultural Society and the National Housing Trust also invested millions of dollars in Stocks and Securities Limited, Clarke said. Since then, the commission’s director has resigned, and Clarke has placed the Bank of Jamaica in charge of regulating the island’s financial system.
“They will unearth exactly how funds were allegedly stolen, who benefitted from such theft and who organized and collaborated in this,” he said.
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