The recent allegations of a multi-billion Jamaican dollar fraud in the securities/investment sector have left Jamaicans all over the world in shock. The fact that track legend Usain Bolt lost millions of US dollars in the alleged fraud has made the news even more widespread. Jamaicans in the diaspora are being called upon by their non-Jamaican friends and colleagues to explain what is happening in the financial sector in Jamaica, to defendain Bolt to the, den and explanations are emerging from scandal.
Jamaicans living outside of uphold their “Jamaicaness” and promote their country’s culture, while tethering to their homeland and assimilating into the fabric of the countries they adopted. They are often visited by government officials and representatives from the Jamaican banking and investment sectors, among others, who urge them to invest in Jamaica. However, the news of the alleged fraud is unsettling and has left the diaspora in amazement.
The feeling is that if what is alleged can happen to Usain, it could certainly happen to any average Jamaican – at home or abroad. Questions abound about where the oversight bodies and government officials were during the relevant period. It is crucial for the political directorate to address issues immediately and unequivocally to solidify confidence in the country and its leaders.
The situation also prompts the question of whose responsibility it was to act on the red flags raised by the oversight body. It is essential to strengthen oversight bodies and hold those responsible accountable to prevent such fraud from happening in the future. The diaspora remains hopeful Jamaica will emerge from this scandal stronger and more resilient.
Source: www.amaica-gleaner