Jamaican Investment Firm Executives Charged in $30 Million Fraud Scheme
Jamaican authorities have arrested three former executives of Stocks and Securities Limited (SSL), a collapsed investment firm at the center of an alleged fraud scheme that affected more than 200 client accounts and resulted in losses exceeding $30 million. Among those allegedly defrauded was a company owned by Jamaican sprint legend Usain Bolt, who had previously criticized the slow pace of the investigation.
The arrests on December 27, 2025, followed a coordinated pre-dawn operation by Jamaica's Financial Investigations Division (FID), Constabulary Financial Unit (CFU), and other law enforcement agencies. Former SSL director Hugh Croskery, his daughter and former director Sarah Meany, and former chief executive officer Zachary Harding were charged with multiple offenses including breaches of the Bank of Jamaica Act, Securities Act, and Larceny Act.
Background and Context
The investigation into SSL began in January 2023 following initial fraud-related charges against former employee Jean Ann Panton. According to Inspector Brenton Williams of the Constabulary Financial Unit, the alleged fraud was "both longstanding and highly sophisticated," requiring investigators to review events dating back to the firm's establishment in 2006.
The Financial Investigations Division has stated that the complex nature of financial crimes demands thorough analysis and patience. In a statement, officials emphasized that "work of this nature takes time and must be done diligently," acknowledging public expectations for swift results while highlighting the need for precision in examining decades of investor activity and fund movements.
Key Figures and Entities
Hugh Croskery, identified as the founder of SSL, was located at a Wickham Avenue address where investigators seized electronic devices and documents. His daughter Sarah Meany was taken into custody following searches at the Kempshot premises in St. James. Both face multiple charges under Jamaican financial legislation.
Zachary Harding, former CEO of SSL and Delta Capital Partners Ltd., reported to authorities for questioning after the initial arrests and faces similar charges. The three individuals were granted bail and are scheduled to appear in court in January 2026.
Corporate entities also charged include Stocks and Securities Limited, Delta Capital Partners Limited, and SSL Growth Equity Limited. These companies face allegations of violating key financial regulations designed to protect investors and maintain market integrity.
Legal and Financial Mechanisms
The charges against the accused span multiple Jamaican laws including the Securities Act, Bank of Jamaica Act, Banking Services Act, Larceny Act, and Companies Act. These statutes collectively govern investment operations, banking practices, and corporate conduct in Jamaica's financial sector.
According to court documents, the alleged violations include unauthorized securities operations, breaches of banking regulations, and larceny-related offenses. The corporate entities face additional charges under the Securities (Conduct of Business) Regulations, which establish standards for how investment firms must interact with clients.
The investigation has revealed how SSL allegedly used a network of related companies—Delta Capital Partners Limited and SSL Growth Equity Limited—to structure its operations. These entities, according to prosecutors, were instrumental in executing the alleged fraud scheme that spanned nearly two decades.
International Implications and Policy Response
The collapse of SSL and subsequent investigation highlights vulnerabilities in Jamaica's financial regulatory framework. The case has drawn international attention partly due to the involvement of high-profile clients like Usain Bolt, whose company reportedly lost millions in the alleged scheme.
Jamaican authorities have emphasized their commitment to strengthening financial oversight through this investigation. Keith Darien, Principal Director of Investigations at the FID, stated that the operation "reflects our commitment to conducting thorough, evidence-led investigations that protect the integrity of Jamaica's financial system."
The case underscores the challenges faced by smaller economies in policing sophisticated financial crimes that often cross international borders. Acting Senior Superintendent of Police Victor Barrett noted that "complex financial investigations demand disciplined teamwork, operational precision, and careful coordination across multiple units."
Sources
This report draws on official statements from Jamaica's Financial Investigations Division, court filings related to charges against SSL executives, and public statements from law enforcement officials involved in the investigation. Information was also compiled from reports published between 2023 and 2025 regarding the Stocks and Securities Limited fraud investigation.
