FSC to hold press conference following fraud at SSL
In the wake of growing public concern, about inadequate oversight by the Financial Services Commission, following reports of fraudulent activity, at Stock and Securities Limited, the FSC, will be holding a press conference on the matter, today.
The press conference also comes on the heels, of claims, that investor confidence, both locally and internationally, has fallen, due to the fraudulent activity.
The FSC has since assumed temporary management of SSL, and also appointed an auditor, while an investigation, is undertaken, into the fraud claims.
It‘s alleged that a former SSL employee, took millions of dollars from the accounts of several clients, including Usain Bolt.
Meantime, with some investors now worried about the money they have put into accounts at investment entities, the finance minister is seeking to assure, that the bad actions of a few, do not go for all.
In seeking to restore confidence to the financial services sector, Dr. Nigel Clarke assured that the investigation will result, in the embezzlers being brought to justice.