Bail denied: Jean-Ann Panton to remain behind bars amid SSL fraud

Bail has been denied for Jean-Ann Panton, a former wealth advisor at Stocks & Securities Limited (SSL) in Jamaica.

Panton appeared in the Home Circuit Court in Kingston and was told that she will be remanded to prison pending her trial. She is being charged in relation to alleged multimillion-dollar fraud at the investment firm.

Justice Lorna Shelly Williams said that based on the gravity of the charges, bail could not be granted

Panton is facing charges for various breaches of the Larceny Act, the Proceeds of Crime Act (POCA), the Forgery Act, and the Cyber Crimes Act. 

According to reports from Jamaica, an interim date of April 19, 2023, was set for a bail application to be heard. Meanwhile, the matter will return to court on June 15, 2023, for a plea and case management. 

Her arrest comes on the heels of a major investigation by the Financial Investigations Division (FID) and the Jamaica Constabulary Force’s Fraud Squad into alleged fraudulent activities at SSL. 

She had her first court appearance on February 17, the same day on which she was charged.  Her home and other businesses associated with her were searched where documents and electronic devices, including telephones, along with other evidence, were taken

Panton, a former wealth advisor, has reportedly confessed to taking money from clients’ accounts without their consent. At least 30 investors have been impacted, according to media claims.