Centenarian’s ‘missing’ $5 million reportedly invested in NCB Loop Jamaica

The content originally appeared on: Jamaica News Loop News

$5 million reportedly invested by customer

Loop News

7 hrs ago – Updated

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The media report of the 105-year-old National Commercial Bank Jamaica (NCB) customer Vincent Wilson, who had money fleeced from his account, has left many citizens calling for justice on his behalf. 

Loop News has since learnt that the senior’s case is much more intricate than previously reported in the media.

Television Jamaica reported that $5 million was taken from Wilson’s account in a “single transaction.” 

However, reliable Loop sources say the $5 million was invested in NCB Capital Markets by Wilson and a relative in February 2023.

Unfortunately, and what has seemed to have caused consternation for the elder, his savings account was fleeced in June 2023. 

The matter was reportedly noticed by the bank and related to Wilson, with a full refund issued.

The source said the bank opted to refund Wilson, due to his age, to spare the senior citizen the distress of having to wait the stipulated 90 days to have the matter investigated.

NCB confirmed the refund of the fleeced funds in its media release today.

“Mr Wilson’s losses were fully refunded in June 2023. Our team has also been in touch with him, and it was confirmed that the matter has been resolved,” the NCB release said.

The source did not confirm whether the funds were fleeced by internal or external sources.

Founder and Executive Chairperson of the Caribbean Community of Retired Persons (CCRP), Jean Lowrie-Chin, also indicated via the association’s X (formerly Twitter) page earlier today that she had been reliably informed that the senior citizen was “fully refunded,” by the bank.

Speaking with Loop News today, Lowrie-Chin said while she could not name her source or state whether the source is within the bank, she was satisfied that the refund was made months ago.

“I have also asked the TVJ reporter to do a follow-up report with the bank,” Lowrie-Chin said.

With the changing dynamics of the financial sector, the source for Loop News suggested that senior citizens employ the services of a trustee to help manage their affairs and find a trustworthy family member to assist them.

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