Former CEO Further Distances Himself From SSL Allegations

Former CEO of the under scrutiny Stocks and Securities Limited (SSL), Zachary Harding, continues to distance himself from the field of accusations surrounding the allegations of fraud that have set off a regulatory firestorm through Jamaica’s economic landscape. The businessman drew intense scrutiny following his assertion that he was unaware that Usain Bolt had an account with the entity during his tenure, a statement that was seemingly bolstered by the revelation of the temporary manager at SSL, that Bolt’s investment in 2012, was done through a limited liability company registered overseas. 

Harding also clarified that in addition to never hearing Bolt’s name called in connection to any accounts, neither was the name of his holding company mentioned. He adds that with over 9,000 client accounts on the books at the time, if Bolt’s account was not among the largest, it would be unlikely that he would have been made aware of it. Bolt is reported to have invested several million US dollars in the account, which had reportedly grown to approximately 1.8 billion JMD by October 2022. SSL’s asset portfolio was recently revealed to be approximately $28 billion.

Harding expressed regret at the difficulty now facing the decorated Olympian. He does however see ways in which the sector can be made more robust if the issues it currently face can be resolved.

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Reporter: Joel Crosskill