Former Chief Executive Officer of Stocks and Securities Limited, SSL, Zachary Harding, says the money stolen from several clients at the embattled investment firm was insured.

He made the revelation on Nationwide yesterday morning.

Mr. Harding says it’s unclear on what level is the money insured.

Zachary Harding, former CEO of Stocks and Securities Limited.

However, Finance Minister, Dr. Nigel Clarke says based on SSL’s own admission it only has fraud coverage of one million US Dollars.

This is well below the over two billion Jamaican Dollars alleged to have been pilfered so far.

Dr. Nigel Clarke, Minister of Finance and the Public Service.

He was speaking at a media briefing yesterday.