More than $50m allegedly fleeced in Sagicor Bank fraud

The alleged fraud uncovered recently at Sagicor Bank reportedly involves more than $50 million and has implicated Tricia Moulton, the manager of the Liguanea branch in St Andrew. 

Moulton and another employee, Malika McLeod, a personal banker, have been charged with various offences, including conspiracy to defraud and breaches of the Proceeds of Crime Act. 

Assistant Commissioner of Police Anthony McLaughlin, who heads the police's Counter-Terrorism and Organised Crime Division, said Wednesday that details of the allegations will be provided when the case goes before the Kingston and St Andrew Parish Court. 

The two workers are each on $1 million station bail and are expected to appear in court on December 9. 

King's Counsel Peter Champagnie confirmed he has been retained by McLeod, but has declined to comment on the case. 

It's alleged that between August and October this year, the women conspired and defrauded US currency accounts belonging to several Sagicor customers using fraudulent accounts they created. 

Sagicor said its management uncovered the "fraudulent activities" through its internal security systems.

"The investigation was handed over to the Jamaica Constabulary Force on Friday, October 21, 2022 and the implicated employees have been suspended to facilitate the progress of the investigation," the bank said in a statement to The Gleaner on Wednesday. 

It added: "We wish to assure our clients that we take the security and protection of their assets very seriously. We constantly review our operations rigorously in order to promptly detect anomalies and liaise with the authorities to ensure that those responsible, face the full legal ramifications."

The statement was issued under the name, Karl Williams, the executive vice president, shared services in Sagicor Group Jamaica.

It's the latest case of fraud uncovered at a local financial institution in recent months.  

In July, Arsenio Johnson, a retail support officer at the National Commercial Bank was charged with larceny as a servant and breaches of the Proceeds of Crime Act and Cybercrimes Act over alleged fraud involving at least $5.8 million.  

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