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JM | Jan 23, 2023

Former SSL CEO Mark Croskery distances himself from fraud scandal

Tamoy Ashman

Tamoy Ashman / Our Today

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Mark Croskery, former chief executive officer of Stocks and Securities Limited (SSL).

Mark Croskery has joined the list of former chief executive officers (CEOs) of Stocks and Securities Limited (SSL) who have been seeking to distance themselves from the multi-million dollar fraud scandal rocking the investment company.

In a statement released today (January 23), the former SSL boss said he has not contacted SSL’s directors, management or team since he departed the firm five years ago.

Croskery was CEO of the entity from May 2007 to March 2018, taking over the role from his father and SSL founder Hugh Croskery.

“I am not aware of any fraudulent activity at the entity during my tenure there. Consequently, the issues raised in the public domain concerning SSL have nothing to do with me,” said the younger Croskery.

His statement comes amid reports that investigators are to contact former heads and founding members of the firm during their investigation. Croskery noted that he has not been approached by any investigator, but that he would cooperate if contacted.

SSL Jamaica’s Hope Road headquarters in St Andrew. (Photo: Facebook @SSLJamaica)

Determined to make it clear that he has no connection to the scandal, Croskery stated that he would take legal action against individuals or entities spreading defamatory statements in the public domain.

“I am aware of false and defamatory allegations made on social and traditional media platforms concerning me and have moved to have the relevant consultations with a view of taking legal action to protect my reputation,” he warned.

SSL is under investigation for multiple instances of fraud that came to the public’s attention last week.

Among those defrauded over what is believed to be a 13-year period is Jamaican athletics icon Usain Bolt, who is said to have lost US$12.75 million which his attorneys claim was in his SSL account up to October last year.

Croskery’s statement comes after another former CEO, Zachary Harding, declared in interviews across several media platforms over the weekend that he had no idea Bolt was a customer at the entity while he was the head of the investment firm.

Lamar Harris, who Harding succeeded as CEO, has also reportedly stated that she was unaware that Bolt had an account at the entity.

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