Three top-level executives at Sun Investments Limited, in Montego Bay. St. James who has been charged with operating an illegal Cambio is expected to answer to the charges in the parish court on Wednesday, May 19. According to the Financial Investigation’s Division, Sun Investment is not an unauthorized dealer.
Chairman of Sun Investment Ltd, Vernal Campbell, Director Earl Swaby, and Manager Clifton Williams have been charged for breaching the bank of Jamaica Act which prohibits the buying, selling, borrowing, and lending foreign currency without being an authorized dealer.
The three men were charged earlier in May following an investigation by the Financial Investigations Division (FID) and the police’s financial constabulary unit into their operations.
Principal director of the FID, Keith Darien says illegal Cambios provides an avenue for criminals to convert ill-gotten funds without any of the due diligence which licensed Cambios are required to do before conducting business with individuals.
Sun investment which is located in Montego Bay, St. James had its license revoked by the BOJ in 2018. CVM Live could not ascertain the reason for the revocation.
But they’d been operating in plain sight for years. The FID says businesses like these pose a danger to law enforcement’s efforts to rid the country of dirty money which is even made worst in Jamaica’s Lottery Scamming Hotspot, Montego Bay.
