Criminal cases against former SSL executives moved from parish court to Supreme Court

The criminal cases against three former executives of the collapsed investment firm Stocks & Securities Limited (SSL) have been transferred to the Supreme Court.

The cases against SSL Growth Equity Limited and Delta Capital Partners Limited have also been transferred.

The move by the country’s top prosecutor was announced on Monday when the three former SSL executives appeared in the Kingston and St Andrew Parish Court.

Director of Public Prosecutions Claudette Thompson used her constitutional powers to halt the cases before the parish court, prosecutors disclosed.

Instead, Thompson’s office indicated that a voluntary bill of indictment would be used to move the cases to the Supreme Court.

Hugh Croskery, founding director of SSL; his daughter, Sarah Meany; and former SSL chief executive officer Zachary Harding have each been charged with fraudulently inducing persons to invest; failure to register a company carrying on business in Jamaica; carrying on a securities business without a dealer’s licence; breaches of the Banking Services Act; and failure to apply to the Financial Services Commission to be registered for securities issued.

SSL collapsed in January 2023 amid allegations of a $4 billion fraud.

Law enforcement officials declined to comment on whether additional charges will be filed against the former executives or the companies.

However, King’s Counsel Jacqueline Samuels-Brown, the attorney representing Harding, indicated in court that prosecutors have signalled there are other aspects of the case they need to address.

- Livern Barrett

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