(CMR) Investigators in Jamaica have uncovered another major fraud, arresting 17 employees of the Seprod Group of Companies in connection with a multimillion-dollar fraud case. Investigations reveal the company was defrauded of approximately $160 million.
Fourteen of the 17 employees in custody have been charged with several crimes. Thirteen other employees who are wanted in connection with this major fraud are reportedly on the run and are being sought by investigators.
Seprod reported the fraud almost one year ago, and the police started an investigation, deputy police commissioner Fitz Bailey revealed on Thursday.
According to Bailey, the alleged fraud was masterminded by two information technology employees who manipulated the company's systems to facilitate unauthorized payments to at least 24 other employees, including route sale drivers and assistants.
The arrest of these employees comes a week after five Burger King employees were charged with fraud at the fast food establishment. Reports are that between December 2022 and March 2023, the employees stole money from the establishment. A report was made to the police, and they were arrested earlier this month. They were charged last week.
An investigation was launched into Stocks and Securities Limited earlier this year after it was revealed that millions of dollars was missing from the account of investors, including athlete Usain Bolt.