'Work of this nature takes time,' inspector says as criminal charges hit former SSL execs

The Constabulary Financial Unit (CFU) of the police force has acknowledged public expectations for "swift results" in the Stocks & Securities Limited (SSL) fraud probe but insisted that “work of this nature takes time and must be done diligently".

Before Saturday's charges against three former executives of the collapsed investment firm, only one person was charged in the probe that started in January 2023.

CFU head Inspector Brenton Williams said the alleged fraud was sophisticated and required intense investigations.

“The complexity of this investigation cannot be overstated. The alleged fraud was longstanding and sophisticated. Probing it required a comprehensive review of events dating back to SSL’s inception in 2006, including careful analysis of investor activity and how funds moved across that entire period. Work of this nature takes time and must be done diligently," Williams said said in a statement from the Financial Investigations Division (FID), which is leading the probe.

Williams added: "We understand the public’s expectation for swift results, and that delays can be viewed negatively. However, the JCF (Jamaica Constabulary Force), the FID, and our law enforcement partners, including MOCA (Major Organised Crime and Anti-Corruption Agency), have the capacity and expertise to conduct these investigations thoroughly and bring matters forward in keeping with the rule of law.”

The CFU is based in the JCFs Counter-Terrorism and Organized Crime Investigation Branch (C-TOC).

Following a coordinated pre-dawn operation on Saturday, former SSL directors Hugh Croskery and his daughter Sarah Meany, along with ex-CEO Zachary Harding, were taken into custody and have since been slapped with more than multiple charges.

Investigators also laid charges against the companies Stocks & Securities Limited, Delta Capital Partners Ltd., and SSL Growth Equity Ltd. for alleged breaches under the Bank of Jamaica Act, Securities Act, Banking Services Act, Larceny Act, and Companies Act.

Electronic devices and documents seized during the operation are now under forensic review. All three individuals were granted bail and are scheduled to appear in court in January.

The charges marked a turning point in a probe that began in January 2023 and had, until then, resulted in charges against only one person, former SSL client relationship manager Jean-Ann Panton.

Panton, charged in February 2023, later recanted an initial confession, claiming it was made under duress following an alleged “offer” from Croskery, an allegation he has denied.

The FID has said the alleged fraud affected more than 200 client accounts and involved over US$30 million. A company owned by sprint legend Usain Bolt is among the impacted clients.

Bolt publicly criticised the slow pace of the investigation earlier this year.

Director of Public Prosecutions Claudette Thompson said her office recommended charges against three.

STATEMENT FROM THE FINANCIAL INVESTIGATIONS DIVISION (December 28, 2025)

On December 27, 2025 the Financial Investigations Division (FID), the Constabulary Financial Unit (CFU), and the Special Operations Unit of the Counter-Terrorism and Organised Crime Investigation Branch (C-TOC) and the St. James Police Division with support from the Major Organised Crime and Anti-Corruption Agency (MOCA), executed a coordinated operation linked to the ongoing Stocks and Securities Limited (SSL) investigation.

The SSL investigation commenced in 2023, after the laying of fraud-related charges against former SSL employee Jean-Ann Panton. Following an extensive two-year investigation, a file was submitted to the Office of the Director of Public Prosecutions (ODPP). An initial ruling was recently received that former directors of SSL, Delta Capital Partners Ltd. and SSL Growth Equity Ltd, be charged for breaches under key legislation including the Bank of Jamaica Act, Securities Act, Larceny Act, Banking Services Act and Companies Act.

At approximately 4:30 a.m., a joint team executed four search warrants at one St. James address in Kempshot District and three St. Andrew addresses. The operation targeted former directors of SSL. As a result, three persons were taken into police custody and questioned in the presence of their attorneys. Two of those persons are directly connected to SSL—Mr. Hugh Croskery and Mrs. Sarah Meany.

Mr. Croskery, founder of SSL, was located at a Wickham Avenue address, where electronic devices and several documents were seized. Searches at the Kempshot premises—the Meany residence—also revealed items such as SSL-related documents and multiple electronic devices of interest, which were seized by investigators and entered into evidence. Mrs. Meany was taken in because of her direct connection to activities at SSL. All items seized are being subjected to forensic and analytical review.

The third person in custody, Mr. Dermot Meany, was arrested in relation to a Firearms Act breach discovered during the course of the operation. He is a licensed firearm holder; however, he was found to be in possession of ammunition exceeding the legally permitted amount.

In the afternoon, Mr. Zachary Harding, the former CEO of SSL and Delta Partners Limited, reported to the FID and C-TOC to be questioned in the presence of his attorney.

Following the questioning sessions charges were laid against individuals and companies for breaches of the Bank of Jamaica Act, Securities Act, Larceny Act, Companies Act and Banking Services Act seen below:

Hugh Croskery

Securities Act, s.7

Securities Act, s.26(1)(a)

Bank of Jamaica Act, s.22A

Banking Services Act, s.10(1)(c)

Larceny Act, s.28(1)(a)(ii)

Sarah Meany

Securities Act, s.7

Securities Act, s.26(1)(a)

Bank of Jamaica Act, s.22A

Banking Services Act, s.10(1)(c)

Larceny Act, s.28(1)(a)(ii)

Zachary Harding

Securities Act, s.7

Securities Act, s.26(1)(a)

Bank of Jamaica Act, s.22A

Banking Services Act, s.10(1)(c)

Companies Act, s.363

Stocks and Securities Limited

Securities Act, s.26(1)(a)

Securities Act, s.36(2)

Securities (Conduct of Business) Regulations, s.8

Bank of Jamaica Act, s.22A

Delta Capital Partners Limited

Securities Act, s.7

Securities Act, s.26(1)(a)

Securities Act, s.36

Bank of Jamaica Act, s.22A

Banking Services Act, s. 10 (1) (c)

SSL Growth Equity Limited

Securities Act, s.7

Securities Act, s.26(1)(a)

Companies Act, s.363

Bank of Jamaica Act, s.22A

Banking Services Act, s. 10 (1) (c)

Those persons charged were offered bail and are scheduled to appear in court in January 2026.

Meanwhile, the matter of charges against Mr. Meany will be the subject of separate communications from the appropriate law enforcement agency.

Keith Darien, Principal Director of Investigations of the FID, said: “This operation reflects our commitment to conducting thorough, evidence-led investigations that protect the integrity of Jamaica’s financial system. By working together and securing key evidence, we strengthen the casework needed to advance accountability and safeguard the public interest.

We will continue to work strategically, with our partners, to follow the facts, pursue the proceeds of crime, and prosecute financial crime in the courts in keeping with the rule of law.”

Acting Senior Superintendent of Police (SSP) Victor Barrett, Deputy Director of C-TOC noted: “Complex financial investigations demand disciplined teamwork, operational precision, and careful coordination across multiple units. Today’s outcome highlights what is possible when law enforcement agencies work in step—sharing intelligence, executing safely, and securing evidence in accordance high global standards.

"We remain committed to disrupting all forms of criminal activity and supporting processes that strengthen the delivery of justice and protect Jamaica and Jamaicans.”

Meanwhile, Inspector Brenton Williams, head of the CFU added: “The complexity of this investigation cannot be overstated. The alleged fraud was longstanding and sophisticated. Probing it required a comprehensive review of events dating back to SSL’s inception in 2006, including careful analysis of investor activity and how funds moved across that entire period. Work of this nature takes time and must be done diligently.

We understand the public’s expectation for swift results, and that delays can be viewed negatively. However, the JCF, the FID, and our law enforcement partners, including MOCA, have the capacity and expertise to conduct these investigations thoroughly and bring matters forward in keeping with the rule of law.”

Further updates will be provided when legally appropriate.

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