Former Employee Slaps JMB with $100m Lawsuit

The state owned Jamaica Mortgage Bank, JMB has been hit with a $100-million lawsuit.

The lawsuit has been filed by banker and former loan officer at the institution, Dalton Myrie.

The Mortgage Bank was established in 1971 with the mandate to finance safe and affordable housing for Jamaicans.

In his lawsuit which was filed a few weeks ago, Mr. Myrie says he was a loans officer for some 20 years with the Mortgage Bank.

Mr. Myrie says despite his impeccable record he was the subject of a sting operation.

He says he was wrongly charged for alleged corrupt performance of his role as a loans officer with the JMB.

The banker and former loans officer notes that he was forced to resign from the mortgage bank but was eventually freed by the court due to lack of evidence.

The former loan officer states in his claim, that the reason for his arrest is that a senior official at the JMB, had a vendetta against him.

The former loan officer has told the court that the vendetta against him is due to his role in revealing to the JMB Board that the official had threatened a client of the JMB.

Myrie has stated in the Court documents that as a consequence of his revelation the official was censured by the Board.

The former JMB employee is asking the Court to order that the state owned entity pay him aggravated damages. He says some senior personnel at the bank used their influence to blackmail a developer into becoming their operative for a sting operation which resulted in his arrest.

According to the claim form, the Mortgage Bank bosses refused to extend the loan of the developer, unless the developer joined them in the conspiracy against him.

The lawsuit notes that the developer has subsequently admitted that Myrie’s arrest was because of a plan involving senior JMB officials.

Meanwhile, the banker has also sued the RJR Comminication’s Group for what he alleges is a misleading report of the circumstances of his arrest. He says the entire circumstances led to him being dismissed from the JMB. He says he was badgered and harassed in a hostile work environment into resigning under great duress.

Both the Mortgage Bank and RJR have submitted documents to the Court and denied the claims made in the lawsuit.

Mr. Myrie is being represented by Attorney Robert Collie Jr.

The Mortgage Bank is being represented by the law firm Samuda and Johnson.

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