Financial Investigation Division reports first prosecution under Microcredit Act – two men charged

The Financial Investigations Division (FID) has charged two men in connection with the alleged provision of microcredit services without a licence.

This marks the first prosecution brought under the Microcredit Act since the legislation came into force.

Charged are Otis Williams and Nevin Forbes, both of greater Portmore, St. Catherine. They were charged with providing a microcredit service without a licence.

The men are scheduled to appear in the Kingston and St. Andrew parish court on July 9.

The charges followed an operation on Thursday June 25, conducted by the FID’s Constabulary Financial Unit with support from the Jamaica Constabulary Force’s St. Catherine south division.

Warrants under the Financial Investigations Division Act (FIDA) were executed at premises associated with both men, and several electronic devices, including laptops and cellular phones, were seized.

Williams and Forbes were taken to the FID, where they were interviewed in the presence of their attorney before being charged.

Commenting on the matter, Chief Technical Director at the FID Dennis Chung, described the prosecution as a significant milestone in financial sector enforcement