JAMAICA · CRIME
Key Facts
- —What is happening Jamaica’s Financial Investigations Division (FID) has charged six people over an alleged forged-document loan scheme worth about JMD 110 million (about US$693,000). The charges were announced late on Thursday, 22 October.
- —Why it matters Forged job letters and borrowed accounts allegedly moved loan money, and the division warns that lending an account risks criminal liability. It matters to anyone, including US-based Jamaicans, asked to lend a bank account.
- —The numbers A bank flagged 79 loan applications from January 2023 to December 2024. Bail was set from JMD 500,000 (about US$3,100) to JMD 1.5 million (about US$9,400), and the accused face four types of charge.
- —Who is who Errol Williams, 39, an accountant, is alleged to have gained about JMD 20 million (about US$126,000). Admarie Ashman, 58, was charged on 20 October and was due in Kingston court on Friday, 23 October.
- —What to watch The next hearing for five of the accused is a mention on Tuesday, 16 February 2027. Prosecutors have not said whether the other flagged applicants will be charged.
- —What it means for you US readers with Jamaican accounts or family there should refuse requests to receive or move money for others. The division says account holders will be held criminally liable.
Six people face fraud and money-laundering charges in Jamaica after a bank flagged 79 loan applications as supported by forged documents. The Financial Investigations Division says the accused are presumed innocent.
Six people have been charged in Jamaica over an alleged loan fraud worth about JMD 110 million (about US$693,000). The Financial Investigations Division, the Jamaican agency that traces criminal money, announced the charges late on Thursday, 22 October.
The accused are alleged to have used forged job letters, utility bills and pay slips to win loans from an unnamed bank. For US readers, the case is a warning about money mule schemes, which can reach anyone who lends a bank account.
What the Financial Investigations Division Alleges
According to the division, the loans were obtained between January 2023 and December 2024 using applications supported by forged and fictitious documents. It says the proceeds were then moved through bank accounts held by third parties.
The Jamaica Observer reports the division as saying the bank went to the police on Tuesday, 24 December 2024. The bank said documents behind loan applications from 79 people were fraudulent and that it could not find the stated employers.
The division says the loans had been paid out and were not being repaid by the time the irregularities appeared. Only six people have been charged so far, and the other applicants are not discussed in the release.
Who Has Been Charged and What They Face
The division names Errol Williams, 39, a business owner and accountant from St Catherine, among the six. It alleges he gained about JMD 20 million (about US$126,000), and he was arrested on Thursday, 24 September.
It further alleges that Williams created fictitious documents, supplied bank accounts to others and opened accounts in fictitious names. He was offered bail of JMD 1.5 million (about US$9,400) with a surety, and the allegations are not proven.
Two others, arrested on 16 September, are alleged to have received JMD 1.35 million (about US$8,500) and JMD 1.2 million (about US$7,600). Two more, arrested on 9 September, are each alleged to have received JMD 1.5 million (about US$9,400) that was withdrawn.
The sixth, Admarie Ashman, 58, was arrested and charged after a search on Tuesday, 20 October. The division says police found two government photo IDs carrying different dates of birth, one in another name.
Charges, Bail and the Court Calendar
All six face charges under the Proceeds of Crime Act, the Forgery Act, the Larceny Act and common-law conspiracy to defraud. Williams also faces a charge of possessing criminal property.
Five of the accused appeared in the Kingston and St Andrew Parish Court on Tuesday, 13 October. The matter was adjourned to Tuesday, 16 February 2027, with travel stop orders, surrendered travel documents and twice-weekly police reporting.
Ashman remained in custody and was scheduled to appear in the same court on Friday, 23 October. The division stresses that the accused are presumed innocent until a court finds otherwise, and no pleas are reported.
Why the Division Is Warning About Money Mules
Dennis Chung, the division’s chief technical director, called the scheme sophisticated and expansive. He warned that a request to lend an account or identification can make a person a pawn in someone else’s crime.
He also urged lenders to keep checking applicants and their own staff, not only at hiring. The division issued a similar warning in March, when it charged three people in a separate bank fraud and money mule case.
That earlier case is described on the division’s own site. Its pattern is the same: criminal funds pass through ordinary-looking accounts to hide the trail.
What It Means for US Readers
Many US residents have family ties and bank accounts in Jamaica. Anyone asked to receive, hold or forward money for someone else risks the same charges, whether in Kingston or at home.
No US bank or agency is named in the case, and no US link is reported. Investors in Jamaican financial firms should note that the lender is unnamed, so its exposure cannot be judged.
Related reading includes the Ruel Reid fraud trial explainer and the guide to who runs Jamaica’s economy. The Jamaica explained guide and the politics explainer carry more.
What Is Not Known
The bank is not named. The report does not say how many of the 79 flagged loans are tied to the six accused.
The division’s release was not yet on its website when this was written. The account rests on the Jamaica Observer’s report of it, with no second outlet found and no defence statement or pleas.
The JMD 110 million total is the division’s estimate, not a court finding. Conversions use about JMD 158.8 per US dollar (23 October 2026), and whether more arrests follow is unknown.
What Comes Next
Ashman’s scheduled appearance on Friday, 23 October comes first, followed by the mention on Tuesday, 16 February 2027 for the other five. A trial date has not been set.
Charges are not convictions, and prosecutors must prove each count in court. The division has not said whether it will seek to recover the money under the Proceeds of Crime Act.
Frequently Asked Questions
Who has been charged in the Jamaica loan fraud case?
Six people from Kingston and St Catherine face fraud and money-laundering charges. They are presumed innocent until a court rules.
How much money is involved?
The division puts the alleged scheme at about JMD 110 million, or about US$693,000. A bank flagged 79 loan applications as fraudulent.
What is the Financial Investigations Division?
It is the Jamaican government agency that investigates financial crime and traces criminal assets, working with the police. It issued the announcement.
What is a money mule?
A money mule is a person whose bank account is used to receive or move money for others. The division says account holders can be charged.
When is the next court date?
Five of the accused return to the Kingston and St Andrew Parish Court on Tuesday, 16 February 2027. Ashman was due in court on Friday, 23 October.
Sources: Jamaica Observer, 23 October 2026 (reporting the Financial Investigations Division release); Financial Investigations Division, release of 23 March 2026; Financial Investigations Division, news page; exchange rate, open.er-api.com, 23 October 2026 (all accessed 23 October 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief