Pair facing Jamaica’s first Microcredit Act case prepare to plead guilty

Jamaica’s pioneering Microcredit Act prosecution has moved a step closer to resolution after the two accused men signalled they will admit the charges against them.

Otis Williams and Nevin Forbes stood before the Kingston and St Andrew Parish Court on July 9 in proceedings linked to Forbes Affordable Loans Ja Limited. Attorney Davian Vassell appeared for both clients. Citing a Financial Investigations Division (FID) release, counsel told the court the case is unlikely to drag on because the accused mean to accept the allegations.

Bail for Williams and Forbes was continued on terms. They must check in at Greater Portmore Police Station three days each week and hand over their travel documents at once. The bench also imposed a stop order blocking either man from leaving Jamaica while the criminal case remains open. Border agencies, among them the Passport, Immigration and Citizenship Agency (PICA), are to be alerted so the pair can be stopped at every lawful entry and exit point — a measure aimed at keeping them within the island. Both were further ordered to give their fingerprints to the police.

Case management is fixed for November 5, 2026.

The men were first charged on June 24, 2026 after the FID’s Constabulary Financial Unit acted, backed by the Jamaica Constabulary Force’s St Catherine South Division. They are accused of offering microcredit services without holding a licence, in breach of Section 9(1) of the Microcredit Act. Conviction of an individual can bring a fine of as much as J$1 million or a jail term of as much as six months; a company faces a fine of as much as J$2 million.

The FID stressed that the case against Williams and Forbes is still at the allegation stage and that each man is presumed innocent unless and until a court finds otherwise. People are urged to confirm that any lender or financial service provider holds proper authorisation before doing business. Licensed microcredit operators are listed on the Bank of Jamaica website. The division said it is determined to safeguard the financial system’s integrity and called on all market players to obtain the licences they need and to meet every duty the law imposes.