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Fraud Squad detectives probing a major fraud racket at the Financial Sector Adjustment Company (FINSAC) said more than $20 million has been stolen from the agency and that more charges are pending against the woman charged in the case.
This was disclosed Thursday when Former FINSAC employee Nicasha Edwards, 27, appeared in the Half-Way-Tree Criminal Court.
Ms Edwards who was an accountant at the company is currently charged with stealing $2 million from the agency.
But head of the Fraud Squad Deputy Superintendent Colbert Edwards said investigators have uncovered fraud involving more than $20 million.
He told the court that additional charges are pending.
Ms Edwards was charged last year following investigations into the theft of millions of dollars from the agency.
It is alleged that between 2005 and June 2007 Ms Edwards who was employed as an accounting officer stole blank cheques forged the signatures of signing officers at FINSAC, falsified accounts and payment vouchers and pocketed $26 million.
The Financial Crimes Division which is now investigating her for money laundering reportedly seized more than $9 million she allegedly held in a financial institution.
Ms Edwards is scheduled to return to court on June 16th.
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