SSL To Pay Out $30M To Clients After Fraud Scandal

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News Americas, New York, NY, Tues. Sept. 24, 2024: The Jamaica Financial Services Commission, (FSC), has announced that Stocks and Securities Limited, (SSL), will soon begin distributing an estimated US$30 million to clients who have been waiting for over a year to recover their investments.

Olympic champion Usain Bolt was among those who lost money.

In a statement, the FSC confirmed that SSL is making significant progress in its plans to compensate its clients, based on the latest information from the trustees overseeing the company’s affairs.

Proceeds from SSL’s Client Portfolio

The payout will be primarily sourced from the sale of SSL’s international securities client portfolio, valued at over US$30 million. SSL has been embroiled in a fraud scandal since January 2023, leading to multiple lawsuits and court cases that have challenged the control of the firm.

The Ongoing Fraud Investigation

The scandal, which rocked Jamaica’s financial sector, has involved a multi-billion-dollar fraud investigation, affecting several clients, including Olympic champion Usain Bolt, who reportedly lost more than US$12 million. In response, the Jamaican government enlisted the help of the U.S. Federal Bureau of Investigation (FBI) to assist local authorities in the investigation.

Changes in SSL Management

After temporarily taking over SSL’s management, the FSC lost control in May 2024 when Justice David Batts ruled in favor of Caydion Campbell, who had been appointed trustee of SSL by the company’s former board of directors. The case is set to return to court this week.

FSC’s Oversight and Compliance Measures

The FSC has maintained its regulatory oversight of SSL and issued directives on July 31, 2024, requiring SSL to provide regular updates on its operations, including the status of payouts to clients. These measures aim to enforce transparency and accountability during the company’s winding-up process.

“The FSC continues to ensure that SSL complies with the legal and regulatory framework under the Securities Act,” said FSC Executive Director, Lieutenant Colonel Keron Burrell. He emphasized that the Commission is focused on safeguarding SSL’s clients and maintaining the integrity of the financial system.

Ongoing Supervision and Law Enforcement Collaboration

The FSC reiterated its commitment to protecting SSL investors and ensuring that the firm meets its obligations in a timely and transparent manner. In collaboration with law enforcement agencies, the FSC is working to complete a thorough investigation into the alleged fraud and any improprieties at SSL.

“The Commission assures all stakeholders that it remains dedicated to maintaining transparency throughout this process and will provide updates as necessary,” Burrell added.

Haitian-American Rapper Kodak Black Finally Calls Out Trump Over Pet-Eating Remarks

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News Americas, New York, NY, Tues. Sept. 24, 2024: Haitian-American rapper Kodak Black, known for his ties to former President Donald Trump, has publicly called out the Republican candidate for his recent comments about Haitian immigrants. Trump, during a debate with Democratic contender Kamala Harris, accused Haitian immigrants of “eating pets,” a claim that sparked outrage within the Haitian community.

Haitian American Rapper Kodak Black (C) poses with a fan during a rally for former US President and Republican presidential candidate Donald Trump in Uniondale, New York, on September 18, 2024. (Photo by David Dee Delgado / AFP) (Photo by DAVID DEE DELGADO/AFP via Getty Images)

Trump, who is currently campaigning for re-election, claimed that Haitian immigrants in Springfield were “eating the dogs” and “eating the cats” of local residents. His potential vice president, JD Vance, echoed similar sentiments, tweeting about reports of pets being “abducted and eaten” by undocumented immigrants.

Kodak Black’s Response

Kodak Black, who has roots in Haiti, quickly took to social media to defend Haitian immigrants and address Trump’s comments. “I ain’t taking no Haitian slander,” the rapper said, expressing frustration at the accusations.

“If I wanted to eat a cat, that’s what I’m a eat,” he quipped, adding, “I was Haitian before it was cool to be Haitian.”

Black emphasized his love for all cultures and stressed that he’s not prejudiced. “I love Israel, I love all countries. I love everybody – because I’m a warrior of Christ.”

He also questioned the claims, asking incredulously, “When y’all saw a n**** eat a cat? Even if you saw someone eat a motherf***ing cat – so what?”

Standing Up for Haitians

Kodak Black urged Haitians not to support any political figure who disrespects them, highlighting the progress the Haitian community has made. “We ain’t taking no Haitian slander,” he said, comparing Trump’s comments to calling all white people with blue eyes “the Devil” – a statement he described as prejudiced.

Kodak Black’s Complex Relationship with Trump

Despite his criticism, Kodak Black still made headlines by attending a Trump rally in Uniondale, New York, on September 18, 2024. He also featured Trump on his and Fivio Foreign’s recent track, ‘ONBOA47RD.’

Born Dieuson Octave to Haitian immigrant Marcelene Octave, Kodak Black legally changed his name to Bill Kahan Kapri. Raised in Pompano Beach, Florida, in the Golden Acres housing project, the rapper has become a prominent figure with ties to his Haitian heritage and an evolving relationship with Trump.

Visa Free Travel To Thailand To End For These Caribbean Countries

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News Americas, New York, NY, Tues. Sept. 24, 2024: Beginning December 1, 2024, travelers from five Caribbean nations will no longer have visa-free access to Thailand. Instead, they will need to secure an Electronic Travel Authorisation (ETA) before visiting by air, sea, or land. This new requirement is part of Thailand’s broader efforts to enhance immigration controls and strengthen border security for international visitors.

Monks lifting the offerings brought by the faithful during the Festival at Wat Pha Lat (Sakadakamee), Thailand. (Photo by Pongmanat Tasiri/SOPA Images/LightRocket via Getty Images)

Travelers from the following Caribbean nations will now need to apply for an ETA before traveling to Thailand:

Cuba
Dominica
Dominican Republic
Jamaica
Trinidad and Tobago

Previously, visitors from these nations could enter Thailand without a visa.

Thailand has long been a favored destination for Caribbean tourists, with its beautiful beaches, rich culture, and vibrant cities attracting increasing numbers of visitors from Havana, Santo Domingo, and Kingston. Caribbean travelers can easily apply for their ETA online through Thailand’s official e-Visa portal. The process is fully digital and will be free of charge.

The ETA will allow a single entry into Thailand and is valid for up to 60 days. Travelers who wish to extend their stay can apply for a one-time extension of an additional 30 days, enabling longer visits without the need for multiple re-entries. The online process is user-friendly, allowing travelers to obtain their travel authorization without any hassle. Visitors must present their ETA upon arrival in Thailand, and those who fail to comply with the new rules or overstay their authorized time may face penalties.

Caribbean Olympian Inducted Into University Of Kentucky Athletics Hall Of Fame

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News Americas, NEW YORK, NY, Tues. Sept. 24, 2024: Caribbean immigrant and Puerto Rican sprint hurdler Jasmine Camacho-Quinn was among six athletes and officials inducted into the University of Kentucky Athletics Hall of Fame recently.

FLASHBACK – Puerto Rico’s Jasmine Camacho-Quinn celebrates with Puerto Rico’s national flag after winning the Women’s 100m Hurdles final of the Memorial Van Damme Diamond League athletics finals at the Roi Baudouin Stadium in Brussels on September 14, 2024. (Photo by NICOLAS TUCAT/AFP via Getty Images)

Camacho-Quinn, who won gold in the 100-meter hurdles at the 2021 Tokyo Olympics and bronze at the 2024 Paris Olympics, was joined by fellow inductees including four-time Olympic gold medalist Sydney McLaughlin-Levrone, coach John Cropp, Henrik Larsen (rifle), Jodie Meeks (men’s basketball), and Corey Peters (football).

During her time at Kentucky, Camacho-Quinn earned three NCAA titles – two in the 100-meter hurdles (2016, 2018) and one in the 4×100-meter relay, (2017). A six-time SEC champion, she also set four school records and remains one of Kentucky’s most decorated track and field athletes.

Following her induction at the Central Bank Center in Lexington, Camacho-Quinn, who represented Kentucky from 2016 to 2018, expressed her gratitude on Instagram. Reflecting on her journey, she thanked her family, coaches, and supporters, acknowledging the challenges she overcame during her time at the university.

“The journey wasn’t the easiest, but it was well worth it. Although I only got to represent Kentucky for three years, those three years taught me so much about myself and life. Six years after graduating, I am now part of the University of Kentucky Hall of Fame!” she wrote.

France Deploys Elite Riot Police To Martinique

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News Americas, New York, NY, September 24, 2024: France has deployed special anti-riot police to Martinique to address violent protests over the high cost of living that erupted last week, leaving at least six police officers and one civilian injured by gunfire. Demonstrators continue to gather despite a government ban on protests in parts of the island.

A French gendarmes controls a man at a roadblock, in Saint Louis on the way to Mont-Dore, in France’s Pacific territory of New Caledonia, on September 23, 2024. (Photo by SEBASTIEN BOZON/AFP via Getty Images)

The elite riot police, known as the Companies for Republican Security (CRS), were previously banned from Martinique after being accused of using excessive force during deadly protests in 1959. Though rarely deployed in French Caribbean territories, they were called in during the 2009 Guadeloupe riots.

A pedestrian walks past a burnt car and between debris following recent protests over the cost of living, in Fort-de-France, Martinique, on September 23, 2024. (Photo by ED JONES/AFP via Getty Images)

The government has imposed a curfew and banned protests in Fort-de-France, Le Lamentin, Ducos, and Le Robert, citing concerns over looting and violence. Officials stated the restrictions aim “to protect the population and businesses targeted by vandals” and to end disruptions to daily life.

Pedestrians walk past a burnt car and between debris following recent protests over the cost of living, in Fort-de-France, Martinique, on September 23, 2024. Authorities are under pressure in the French Caribbean island of Martinique, home to around 350,000 people as riots are following protests that began in early September 2024 over rising prices. (Photo by ED JONES/AFP via Getty Images)

Over the weekend, peaceful protesters were seen marching along highways, demanding lower food import taxes, as prices are reportedly up to 40% higher than in France. Talks between stakeholders have so far failed to reach a resolution.

Béatrice Bellay, a representative of the socialist party, criticized the decision to deploy the CRS, stating, “Martinique is not in a civil war, it is a social war,” and warning that the move could escalate tensions further.

French statistics office Insee conducted a year-long study in Martinique in 2022, which revealed the island’s food prices were 40% higher than in mainland France. Experts cited transport costs, an uncompetitive market between local retailers and customs tariffs, as reasons for the expense.