The Financial Investigations Division (FID) is emphasising the importance of institutions maintaining strong internal controls and promptly reporting suspected irregularities.

This, after an accounting officer employed at the Caribbean Maritime University (CMU) was arrested and charged yesterday in relation to alleged financial irregularities involving student funds.

The accused is Kevan Anthony Panton, who also serves as a customer service officer at CMU.

Panton is charged with 14 counts each of embezzlement, engaging in a transaction involving criminal property, possession of criminal property, facilitating a transaction involving criminal property, falsification of accounts and conspiracy to defraud.

The FID said the allegations stem from concerns first identified in November 2024, during a period of system downtime at the University.

Reports are that during reconciliation of cashier close-out reports against bank deposits, it was identified that $J970,000 had not been lodged.

The FID said further investigations indicated that the funds were later returned or lodged by Mr. Panton.

However, the sequence of events remained inconsistent with expected cash handling practices.

The FID stated that additional concerns arose during the January 2026 examination period when students presented manual receipts for payments that were not reflected in the University’s records.

It said this triggered a formal probe into the manual receipting, banking and receivables processes.

FID said the investigation revealed that the sequence in manual receipt books had been broken and that several receipt books remained unaccounted for.

Over $J1.7 million could not be accounted for from the manual receipts reviewed.

Of that amount, some $552,000 has since been returned or lodged.

Mr. Panton and another employee were placed on suspension in January 2026.

A report was subsequently made to the FID.

FID Principal Director of Financial Crimes Investigations, Keith Darien, said institutions must have clear and robust accountability systems in place, especially when money is being handled.

Panton was granted a $700,000 bail and is scheduled to appear before the Kingston and St. Andrew Criminal Court on July 6.