Scotiabank rejects elderly investors’ lawsuit claims
Published:Friday | November 29, 2024 | 12:10 AM
Scotiabank Group Jamaica Ltd is vowing to defend itself against claims made in a lawsuit filed by an elderly couple who are seeking to recover funds from the investment arm of the financial institution.
The Gleaner, on Wednesday, highlighted that in the suit filed on Tuesday, Scotiabank customers Percival Gager and his wife Polly, who are pensioners, contend that in 2011, Gager went to the Mandeville branch of Scotiabank, where he was invited by a representative of the bank to invest US$50,000 in Scotia Investment Jamaica Limited (SIJL).
The claim states that they later discovered that the money was invested in a Mexican copper mine company, and despite attempts to recover the funds from SIJL, they have not been successful
In a statement yesterday, Maia Wilson, vice-president, general counsel and company secretary of Scotia Group Jamaica, said, “Please be clear that a lawsuit has not yet been served on us by the claimant, and we first heard that a lawsuit was filed upon seeing this news story.”
Wilson added: “As a financial services group, we take the management of our client relationships very seriously, and we adhere to the highest standards within our business. Our operations are in line with all regulatory requirements and the laws governing the financial sector.
“While we cannot comment on the specifics of any client transactions in the media, we can confirm that the allegations in the article are inaccurate, and we will be defending them in the courts once we are in receipt of the claim.”
Senior attorney-at-law Anthony Williams, instructed by the law firm Usim Williams & Co, who is representing the couple, filed the claim on their behalf on Tuesday.