The Financial Investigation Division (FID) says the number of accounts affected by the irregularities at the beleaguered investment firm Stocks and Securities Ltd (SSL) has increased to 200, with the amount of money missing now at a staggering US$30 million or approximately J$4.6 billion.

“Evidence now shows that there are over 200 affected accounts and a staggering amount exceeding US$30 million attributed to fraud and other irregularities related to clients’ funds,” the FID disclosed in a statement issued a short while ago.

The amount of missing funds is now three times the US$10 million from 70 accounts that was reported by the FID in August.

The revelation comes as the FID reveal that prosecutors are at an advance stage of laying additional charges in the complex, high-level probe that has stretched beyond Jamaica’s borders.

“The investigative process is far advanced and we are now at the point where a file is currently with the prosecutors who are reviewing the evidential material with a view to discerning the possible charges,” the FID stated.

The new revelations also come as the sole person who has been charged in the ongoing fraud investigation at the entity, former SSL client relationship manager Jean-Ann Panton, appears in court today for another mention.

“The complexity of the investigation cannot be understated, as it involves a comprehensive examination of events dating back to the inception of SSL in 2006. Since then the company has garnered substantial investor interest,” the FID stressed, explaining further that “the meticulous inquiry requires a thorough analysis of the entire time period, scrutinising the flow of investor funds”.

The FID disclosed further that its findings so far “indicate potential criminal and regulatory breaches involving both the company itself and individuals associated with it”.

The agency, however, cautioned that these findings “are distinct from the ongoing court case, which centres on a prolonged fraud affecting numerous investors”.

In the meantime, the FID is expressing concern about the poor response and seeming lack of cooperation from victims. The agency said despite numerous appeals and direct communication with victims, it has only received 23 official statements from affected individuals and entities.

“I must emphasise the critical role their cooperation plays in seeking justice through the Courts. The FID remains committed to supporting the integrity of the financial system and will spare no effort in bringing all guilty parties to justice,” FID Director General Selvin Haye implored.

The FID is urging SSL clients who have been affected by the irregularities to contact the agency via email at [email protected] or via telephone at 876-928-5141-8.