There is a new development this morning in the ongoing saga involving the embattled Stock and Securities Limited, SSL, and its former Wealth Advisor, Jean Ann Panton.

Miss Panton, who has so far spent nearly four months in jail, has now filed a defence in the Supreme Court in response to a claim filed against her by Jean Forde, who was named as one of the victims of the alleged fraud.

Mahiri Stewart has this report:

In the documents filed in the court, Miss Panton is alleging that she was induced to make her confession statement and that she would not have confessed had the inducement not been offered.

Miss Panton has named SSL Founder and former director Hugh Croskery as the person who offered the inducement and said it was made on behalf of the company Stocks and Securities Limited.

The document was signed by her attorney Sylvester Hemmings on her behalf as he claimed he had challenges getting in touch with Miss Panton due to her being locked up at the South Camp Road Adult Rehabilitation Centre in Kingston.

In January, the Financial Services Commission, FSC, obtained an ex parte injunction against Mr. Croskery restraining him from dealing with any asset of the company pending a civil suit.

An ex parte injunction refers to a court order that is issued without notice being given to the opposing party.

The injunction was also obtained against the firm’s other directors.

However, that injunction has since been lifted.

Miss Panton, in a sworn statement, confessed to stealing millions of dollars in client funds for over a decade.

SSL has been under the control of a Financial Services Commission instituted temporary manager and forced to suspend all operations without regulatory approval since news of the scheme came to light.

The multi-billion dollar theft has impacted more than forty people, including legendary Olympian, Usain Bolt.