Chung heads to FID

The appointment of accountant Dennis Chung as the new chief technical director of the Financial Investigations Division (FID) has sparked concern, particularly over his public comments on the Integrity Commission’s (IC) report into Prime Minister Dr Andrew Holness.

The Opposition People’s National Party is urging the Government to review the appointment.

Finance Minister Fayval Williams announced Chung’s appointment on Wednesday afternoon, stating that he would take office on June 2. A statement noted that Chung has more than 35 years of experience in financial management and governance, and that the appointment followed a recruitment process managed by the Office of the Services Commissions. The post comes with an annual basic salary of $11.6 million to $15 million, according to the commission’s advertisement last November.

The FID, which operates under Williams’ ministry, is tasked with combating financial crimes and asset recovery under the Proceeds of Crime Act. As chief technical director, Chung will be responsible for day-to-day operations. The law provides for ministerial policy guidance.

However, the announcement has ignited debate over Chung’s comments and the implications for the FID’s independence. Chung’s leadership begins at a time when the FID is under heightened scrutiny for its role in two of the most high-profile financial investigations in Jamaica’s recent history.

These include the multibillion-dollar Stocks and Securities Limited fraud scandal and the IC’s September 2024 referral of its controversial report on Holness’ finances.

In the IC’s case, the commission reported last September that further investigation was required to determine whether Holness had committed illicit enrichment and referred the case to the FID. The agency has not disclosed the status of any investigation.

UNQUESTIONED IMPARTIALITY

Opposition Spokesman on Finance Julian Robinson, while acknowledging Chung’s public service credentials and competence as an accountant, raised concerns about his suitability for a role that demands deep investigative skills and unquestioned impartiality.

“He has publicly opined on that [Holness] matter, saying that he saw nothing unusual about someone having 28 bank accounts. So in that regard, the perception of impartiality arises,” Robinson told The Gleaner on Wednesday.

He continued: “While I’m not questioning his ability to be impartial, I’m saying the perception of that impartiality is going to arise in a case like this.”

Robinson pointed out that past FID heads have typically had law-enforcement or forensic investigative backgrounds, and questioned Chung’s capacity to lead such a technically sensitive division.

Pressed on whether the appointment should stand, Robinson was blunt: “I don’t think it’s an appropriate appointment at all.”

In a September 18 news article published by Nationwide Radio, Chung questioned the “relevance” of some findings in the report, including the movement of millions of dollars among companies linked to Holness and how a company with limited income provided a $20-million loan to another linked entity.

“You don’t have to lend money like that. [You] can lend money by basically being a guarantor, you know, taking it in one name and sending it to another company. There are some things there that I’m still trying to understand the conclusion from it, because I think there are still some things missing,” he said.

In a September 23 article in the Jamaica Observer, he also remarked that it was not “irregular” for one individual to have 28 bank accounts, stating, “My experience is that if you go into several private-sector businesses or speak to several businessmen, you’ll find that they have a multitude of bank accounts, some of them inactive, some of them they’re using.”

Robinson is contending that those comments are now problematic for Chung and the minister should reconsider the appointment.

“This is a highly sensitive position. And you put someone without any investigative experience, and then someone who, from a perception perspective, is not going to be perceived as impartial.”

Howard Mitchell, attorney and former president of the Private Sector Organisation of Jamaica, was more nuanced in his view.

“I don’t think there is any question of Chung’s competence and qualifications to understand the scope of the job,” he said.

He acknowledged Chung’s lack of investigative experience, but argued that institutional capacity at the FID could compensate.

“Yes, he wouldn’t have any police or investigative experience, but I suppose and I would expect that there would be talent within that organisation who could make up for that.”

However, Mitchell cautioned that Chung’s past public statements, particularly downplaying the significance of Holness having 28 bank accounts, require him to now conduct his duties with exceptional care.

“My concern is that Chung has made no secret of his lack of concern about certain activities on certain holdings of the prime minister,” Mitchell said, emphasising that the FID is a public body that must be open to scrutiny. “So I would expect Chung ... to operate in the most transparent manner possible, so that there could be no question that he is not treating everyone as subject to the laws of the land.”

Mitchell added, “Chung has to understand that given the appearance of favour in a particular direction, that he would have to be open and completely transparent in relation to any decision that the office takes.”

He said, given Chung’s new post and the past comments, he expects that Chung “would not be directly involved” in the investigation of the prime minister’s affairs.

“I would be personally uncomfortable in accepting the position, but Chung is a very confident young man, and I would expect that he is going to discharge his duties, as I say, with total transparency, and he is going to justify to the public every action that he takes.”

RECUSAL NOT A SOLUTION

Robinson, meanwhile, rejected the idea that recusal would be an adequate safeguard, arguing that it offers little practical insulation in such a role.

“What does recusing yourself mean when you’re the head of the department that has been entrusted to investigate the matter? What does that mean in a practical sense?”

Mitchell said what is critical in dealing with conflict of interest in a “small” society like Jamaica’s, and where the “talent pool is not deep”, is that conflicts are “declared and acknowledged” and persons whose jobs will involve that conflict “justify every step that you take”.

Meanwhile, Robinson is dismissing claims that the Opposition was unfairly targeting Chung.

“He chairs a number of public boards right now, for which we could never raise any objection. But this is an investigative division which will investigate both members of the public and the private sector in relation to financial crimes. So it is exceedingly a sensitive position,” he said.

Chung will take over from acting head Ordinor Tucker on June 2. The leadership change follows the June 2024 departure of Selvin Hay, a former deputy commissioner of police.

Telephone calls and messages to Chung and the finance minister were not answered up to press time.

The ministry stated that Chung’s mandate at the FID will include advancing the division’s efforts to combat financial crimes, overseeing the implementation of operational policies and systems aligned with the FID Act, and strengthening asset-recovery initiatives, in accordance with the Proceeds of Crime Act.

Under the FID Act, the chief technical director “shall, as the need arises” report to the minister, on­ the exercise of their function, any matter that could materially affect public policy or the strategic direction of the division; and on any other matter requested by the minister “as information which the minister considers necessary”.

editorial@gleanerjm.com

Chung’s profile:

. Certified public accountant

. Two university degrees in accounting

. Justice of the peace

. Former project manager – Divestment team and head of legacy operations – Divestment team at Air Jamaica Limited

. From 2018 to 2022, led Supreme Ventures Services Limited as chief executive officer

. General secretary, Jamaica Football Federation – November 2022 to May 2025

. Currently serving as on the boards of the Office of Disaster Preparedness and Emergency Management, Wigton Energy Limited and GK Capital Management Limited (to demit office before taking up FID role); past directorships at Bank of Jamaica, First Global Financial Services and the Betting, Gaming & Lotteries Commission.