Alliance Investment Management Ltd wins case against Financial Investigations Division

Alliance Investment Management Limited (AIML) has won the case brought against it by the Financial Investigations Division (FID).

The FID had accused AIML of 17 counts of breaching the Proceeds of Crime Act (POCA). Charges were laid in 2021.

AIML’s founders, brothers Peter and Robert Chin were taken into custody arising from the allegations.

Senior parish court judge Chester Crooks today upheld a no-case submission filed by their attorneys Tom Tavares Finson and Sean-Christopher Castle, freeing the men.

King’s Counsel Tavares Finson spoke to the media shortly after the ruling.

Mr. Tavares Finson said the Chin brothers have suffered significant loss due to what he says were the baseless charges.

He said the criminal charges resulted in the chin brothers being forced to sell a-i-m-l’s security portfolios to Sagicor Jamaica Limited.

The sale took place in August 2022 after the entity was sanctioned by the Bank of Jamaica and the Financial Services Commission.


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