The scope of the fraud at Stocks and Securities Limited, (SSL) has now grown to more than 30 million US dollars, with evidence indicating that there are over 200 accounts that were impacted.
That revelation was made by the Financial Investigations Division, (FID) in a statement this morning (Wed).
FID Director General Selvin Hay, is urging clients who have been affected by the irregularities, to contact the agency.
In August, the FID indicated that some 70 accounts and approximately US$10 million were involved in the massive fraud probe.
However, the number of victims and the amount involved have tripled, as the investigation into the SSL matter continues.
The FID says the complexity of the investigation cannot be under-stated, as it involves a comprehensive examination of events, dating back to the inception of SSL in 2006.
MEANWHILE…………Former Stocks and Securities Limited Client Relationship Manager Jean-Ann Panton, who is facing multi-billion dollar fraud charges, was remanded to return to the Home Circuit Court on May 27, next year.
Her attorney Sylvester Hemmings told the court today (Wed), that he received relevant documents and needed three months to go through them and take instructions from his client.
The judge then set the plea and case management hearing for May 27, to give Hemmings adequate time to review the file.
Its being alleged that Panton gave statements, confessing that she took money from client’s accounts, over several years.