Corporate Governance: White Collar Crimes

Our expected future National Hero and Olympic Legend, Dr. the Honourable Ambassador Usain St. Leo Bolt, OJ, CD, OLY was allegedly robbed of a portion of his retirement savings in the sum of US$12.7 million at the 'fraud-hit’ investment firm Stocks and Securities Limited (SSL) in Jamaica. The fastest man alive could not outrun this betrayal of trust. The emotions that were ignited in the sporting fraternity, financial sector and the world over, include alarm, shock, fear, anxiety, anger and disrespect. For those of us who have our little ‘tuppence’ in a bank or financial institution, the thought of losing it mek wi nervous bwaad. Many of us could not recover from such a devastating loss. We all knew this matter was extremely serious and urgent when government officials addressed the matter publicly. Additionally, there was heightened fear among financial executives because they were concerned about the credibility of the Jamaican financial sector.

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