Victims of SSL fraud to receive partial payout starting May 2025

Victims of the alleged multibillion-dollar fraud at Stocks and Securities Limited (SSL) will begin receiving partial payouts next month, more than two years after news of the scheme devastated clients, including Jamaican sprint legend Usain Bolt.

In an official notice dated April 3, 2025, trustee Caydion Campbell announced the launch of the SSL Victims Compensation Fund, aimed at facilitating payouts to those affected by the alleged fraudulent activities. Clients are required to submit proof of claims by April 30, 2025.

“We are seeking to make a partial distribution to these clients in May 2025 and invite all affected clients, who have not yet done so, to submit their POCs [proof of claims],” Campbell’s notice stated. “Your submission should include any supporting documentation or other forms of evidence to substantiate actual losses suffered due to the alleged fraudulent activities.”

The development marks a significant step in the ongoing court-supervised closure of SSL, one of Jamaica’s largest-ever investment frauds, with over US$30 million (approximately J$5 billion) reportedly siphoned from more than 200 accounts.

The fraud was first brought to light in 2023, with Usain Bolt among the high-profile victims. In February, Bolt expressed frustration with the government’s handling of the investigations, hinting that he may not recover any of his funds without further public pressure.