Six charged in $110m loan fraud using forged documents at Kingston court
A 58-year-old woman and five others face multiple charges over an alleged $110m loan fraud scheme involving forged documents at a Jamaican financial institution.
Six accused in $110m loan fraud scheme face Kingston parish court
Jamaica-gleaner.com reports that a 58-year-old woman is scheduled to appear in the Kingston and St Andrew Parish Court after being charged in connection with an alleged $110-million loan fraud scheme, while five co-accused have already been granted bail.
Admarie Ashman, a self-employed resident of the Kingston 3 area, was arrested and charged on Tuesday following a search of her home by investigators.
Ashman is one of six individuals accused of obtaining loans totalling approximately $110 million from a prominent financial institution using forged and fictitious documents between January 2023 and December 2024.
The five other accused are: Errol Williams, 39, a business owner and accountant from St Catherine; Christine Elliot, 52, a customer service representative from St Catherine; Staisha Campbell, 24, unemployed, also from St Catherine; Paige Dixon, 34, a labourer and farmer from Kingston; and Adrien Kerry-Ann Gordon, 44, a self-employed shopkeeper from Kingston.
According to the Financial Investigation Division (FID), those five appeared in the Kingston and St Andrew Parish Court on October 13 and were granted bail with conditions. These include surrendering travel documents, reporting to police twice weekly, complying with a stop order restricting their movement, and refraining from contacting or interfering with witnesses. They are due to return to court on February 16, 2027, for mention.
The FID said the investigation was launched after the financial institution reported the matter to police on December 24, 2024, following the discovery of irregularities in loan applications submitted by 79 individuals. The institution grew suspicious after it was unable to verify applicants' stated places of employment at the addresses provided. By that point, the loans had been disbursed but were not being repaid.
Investigators allege that forged job letters, utility bills and pay advices were used to support the loan applications, with proceeds subsequently transferred through bank accounts belonging to third parties.
Williams is alleged to have benefited by approximately $20 million from the scheme. The FID further alleges he created fictitious documents, provided bank accounts to other individuals, and directed that loan proceeds be transferred to those accounts. He is also accused of obtaining a fraudulent driver's licence and birth certificate, and of opening bank accounts in fictitious names to receive loan funds.
Elliot and Campbell are alleged to have received $1.35 million and $1.2 million respectively in loan proceeds. Dixon and Gordon are each alleged to have received $1.5 million, which was subsequently withdrawn.
Ashman was arrested during a search operation carried out by members of the Jamaica Constabulary Force's Constabulary Financial Unit, assisted by personnel from the Kingston Eastern Police Division. During the search, investigators reportedly found two forms of government-issued photo identification — a driver's licence and an electoral identification card — bearing different dates of birth. One was in Ashman's name; the other was in the name Cassandra Burton. Bank cards, letters and other printed documents were also seized and entered into evidence, the FID said.
All six accused face charges of engaging in a transaction involving criminal property under the Proceeds of Crime Act, uttering forged documents under the Forgery Act, obtaining credit by fraud under the Larceny Act, and conspiracy to defraud under common law. Williams faces an additional charge of possession of criminal property.
FID Chief Technical Director Dennis Chung said the investigation underscored the importance of collaboration between the FID and the Jamaica Constabulary Force in tackling alleged financial crimes. He also warned the public against allowing others to use their bank accounts or identification documents to receive or transfer money.
"A request to receive money, or to lend an account or identification, can seem harmless, but it can make a person a pawn in someone else's criminal activity," Chung said.
Chung urged financial institutions to strengthen their due diligence procedures when assessing loan applications and vetting employees. "Due diligence is not a one-time exercise. It must be sustained, as it protects institutions, their customers and the wider financial system," he said.
The FID stressed that the charges are allegations and that all six accused are presumed innocent unless and until proven guilty in a court of law.
Source: Google News JM — Kingston