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Mark Wignall | Scandal in Financial Investigations Division failure

Published:Sunday | December 10, 2023 | 12:06 AM
Stocks and Securities Limited office
Stocks and Securities Limited office

Is it possible for this small country to absorb any more embarrassment? First Stocks and Securities (SSL) was infiltrated by a person or a compendium of individuals months ago. At that time, very few of us would have even heard of the investment entity, known among the savvy and those at the top as a surefire wealth-building company.

Then we heard that our living icon Usain Bolt had been caught up among those who had been defrauded of quite substantial funds. Then we heard that Jean-Ann Panton, a client relationship manager at SSL was nabbed by the police for forgery, larceny, and engaging in transacting criminal property. US$30 million was floated as the possible amount.

As the intrigue built and the biggest idiots among us must have surmised that it was hardly likely that the lady was acting alone, now comes the part that places Jamaica right in the middle of the idiocracy.

Last Wednesday, several laptops were stolen from the offices of SSL. Say what? Under normal investigation procedures, all matters having to do with SSL and its physical property would have had to be considered as a crime scene. Not just the day after the scandal and the week and months after. Constantly.

So the question is, what was it that went wrong? One would have thought with Ms Panton stating that others were involved, any and every filing cabinet, trash can, bathroom supplies and electronic equipment at SSL would be under the most stringent 21st century lock and key. But no, the idiots allowed smarter idiots to get the best of them.

Somewhere in all of this, although we know that the PM is no policeman or trained investigator, he has to stand on the biggest soap box in Jamaica and address this matter. Many areas of this country’s economy are in a small spurt of growth, and it is most important that investors, foreign and local, get the feel that normal investment risk aside, one will not get robbed if one walks to SSL’s car park to retrieve a chocolate bar before it melts.

This is embarrassment at a cosmic level. Get ready to immediately address this matter, Prime Minister Holness.

SEEKING PEACE FROM ALL DIRECTIONS

A friend of mine tapped me on the shoulder to remind me that some Jamaicans are still discussing some of the subjects raised by the PM at the Jamaica Labour Party (JLP) annual conference.

Who were those Jamaicans, I wondered. Not many shopkeepers and especially bar operators who have been outplayed by the unity of the Chinese wholesalers. Definitely not them. The wholesalers band together and purchase on a regular basis, say, 50 pallets of white rum. The operators wanted to hold white rum to $200 but could not do so because the wholesalers controlled the stock and hence the price at most points. It’s now $250.

Score: Wholesalers, One plus. Bar operators, minus one.

Many small shopkeepers are in Christmas mode and looking a little extra. They have no time to listen to heated-over cornmeal porridge taken overnight from the fridge.

Yet still there were some Jamaicans, maybe those more well off who could afford back-patio conversations and political intrigue at community gatherings. With white rum in sight and bully beef sandwiches in the centre of the table.

Speaking from under his two hats, JLP party leader and Prime Minister of Jamaica Mr Holness spoke of a ministry of peace.

It was the PM’s view that Jamaica is in conflict. Duh! Reheated cornmeal porridge. That is obvious. Jamaica has been in conflict for over 40 years. So his statement was nothing new. He also spoke about a study that has been commissioned. What! Another study! Another gulp of stale porridge?

What would be new and needed about such a study? One trying to tap into unravelling the general and specific motivations of the social-media generation?

What about the cost of that new ministry? One reader suggested that it would not be cheap.

“Jamaica has the Ministry of National Security, Justice, Labour and Social Security, and Economic Growth and Job Creation. Could not these ministries be upgraded to focus more on the violence and mayhem?

“For example, the Ministry of National Security and Justice could establish a task force or working group with an emphasis on the violence and mayhem. Job creation and good jobs are important and can be part of reducing crime if people can make a living wage. Thus, could not the Ministry of Economic Growth and Job Creation also have a special working group or task force? My ultimate point is, do we really need a new ministry to deal with the issue?”

STINKING WATER ALONG WATER LANE

The news item in THE STAR spoke about downtown Kingston and wastewater coming up via manhole covers and making a royal mess for the people who have to use the roadway on Water Lane.

A few years ago, it was known as KSAC, Kingston and St Andrew Corporation. It’s now KSAMC, Kingston and St Andrew Municipal Corporation. Different name, same crap. Jamaicans are notorious for dumping solid waste where wastewater runs.

This condition has existed from the 1970s. But some fun was involved. A totally naked man in the area of Water Lane would bend down and drink from the green slime and not a single pathogen was seemingly transmitted to him. But a certain part of his body, his private part, earned him more comment than usual from some of the braver women at that time as its growth exceeded just about all expectations.

Now it is just the dutty water. No unusual growth this time.

Mark Wignall is a political and public affairs analyst. Send feedback to columns@gleanerjm.com and mawigsr@gmail.com.