Jean-Ann Panton sued by another SSL investor
Former Wealth Advisor Jean -Ann Panton who is facing charges in relation to the 3-billion-dollar fraud at Stocks and Securities Limited, SSL is one of ten defendants sued by an investor.
The claimant in the lawsuit is 80-year-old SSL investor Jean Forde.
Forde claims in the suit that she was defrauded of 830,000 US dollars and is seeking to recover the amount from the defendants.
Welljen Limited a holding company owned by sprint legend Usain Bolt has also filed a suit against SSL.
Bolt’s account which had 2 billion dollars in October 2022 had only 1.8 million dollars when he was alerted in January this year of the alleged fraud.
The two suits will come before the Supreme Court on Wednesday.
In documents filed in the supreme court on May 25, Panton in her defence, said she confessed to the fraud because of an alleged offer made to her which she described as an inducement.
She says the claimant Forde must prove the validity of the alleged confession statement and allegations according to law.
Panton who is facing multiple fraud charges has been denied bail and is to return to the home circuit court on June 15.
The Financial Services Commission which has taken temporary control of the SSL since January filed a declaration in the supreme court in March that the company is insolvent and does not have sufficient money to pay its debts.