Retired Jamaican Wins US$101,547 Judgment Over Delta Capital Investment

By 2021, Mary Jane* had accumulated US$80,000 to help provide lifelong medical support for her 12-year-old daughter, who has Down’s syndrome, autism and cognitive delays.

Jane, a retired Jamaican entrepreneur who now resides in the United States, considered short-term investment opportunities in hopes of growing the fund. She told The Sunday Gleaner last Wednesday that a friend subsequently introduced her to Delta Capital Partners.

Her initial research included reviewing the company’s website, which she described as polished, informative and impressive. However, she said she remained cautious and requested meetings with three Delta Capital executives at the time — Zachary Harding, Anthony Dunn and Ivan Carter.

Jane said discussions with each man did not completely remove her doubts. Nevertheless, she decided to place the entire fund with St Lucia-based Delta Capital after explaining that the money had been reserved for her daughter’s future care and warning the executives against exposing it to high-risk ventures.

A promissory note reviewed by The Sunday Gleaner was dated November 18, 2021, carried an annual return of 8.5 per cent and was due to mature on May 18, 2023. The document also bore the name Anthony Dunn and what appeared to be Harding’s signature.

“I said to them, ‘Please, do not invest it in any kind of risky business’,” Jane recalled.

She said she told the executives that she could invest either in the United States or through them in Jamaica. What caused her greatest pain, she added, was telling them that she preferred to entrust the money to fellow Jamaicans instead of Americans.

According to Jane, the executives offered strong assurances that she had no reason for concern. She recalled one of them saying: “We are not in the business of taking risks.”

Dunn was approached for a response on Friday but declined to comment on the record. Harding, when asked about Jane’s allegations, referred the questions to his lawyer, Deborah Martin.

Martin also declined to address the matter when contacted on Friday, pointing to criminal proceedings involving her client and Delta Capital. She said arrangements concerning legal representation for the company had not been finalised and that she did not want Harding commenting personally on issues involving Delta Capital while both were before the court.

Martin added that she would need a complete understanding of the matters before offering any comments.

Jane said the company had made no payment even one week after the first note became due. From that point, she said, the arrangement began to unravel.

Jane told the newspaper and stated in a complaint to the Financial Services Commission that Delta Capital failed to honour several promised payment dates. As a concession intended to give the company additional time, the parties eventually negotiated another promissory note.

Documents examined by The Sunday Gleaner showed that the replacement note was issued on July 1, 2023, promised interest of 10 per cent annually and had an October 2, 2023 maturity date.

The FSC regulates Jamaica’s securities, insurance and private-pension sectors.

In a complaint submitted to the regulator on October 9, 2023, Jane expressed surprise, disappointment and disgust that the second note had not been settled. She also complained that Harding remained unable to provide a repayment date.

The FSC’s eventual response revealed wider concerns. In correspondence sent to Jane on June 16, 2025, the commission said its investigators had found evidence that Stocks & Securities Limited brokered promissory notes issued under Delta Capital’s name.

SSL, a Jamaican investment company, collapsed in January 2023 as allegations emerged about fraudulent transactions totalling $3 billion and affecting more than 200 clients. Jamaican sprint great Usain Bolt was among those whose accounts were affected.

Harding was SSL’s chief executive officer from 2019 until 2022 and later became a co-founder of Delta Capital.

According to the FSC’s letter, investigators examined claims that SSL arranged, issued and distributed securities that had not been registered. The inquiry also covered SSL affiliates and other connected organisations.

The commission alleged that promissory notes, convertible loan contracts and shareholder loan arrangements were offered with different interest rates and repayment dates, contrary to securities laws.

The regulator further indicated that Jane was not the only investor still waiting for principal and interest payments.

Its investigation determined that SSL and other issuers had missed several interest instalments owed to investors. Despite repeated assurances, the FSC said, the entities either failed to pay the interest or did not return the outstanding principal.

The commission also advised Jane that a combined investigation by the Financial Investigations Division and the police into suspected fraud involving Delta Capital and associated companies had reached an advanced stage.

Ordinarily, the FSC explained, it would process complaints separately. Because of the size of the broader investigation, however, Jane’s individual complaint was closed and incorporated into the inquiry concerning SSL and affiliated businesses.

The FID confirmed last Thursday that Jane’s complaint has not resulted in any criminal charge against Harding.

Harding is nevertheless awaiting trial on several criminal charges connected with the activities of SSL and Delta Capital. Former SSL founding director Hugh Croskery and his daughter, former SSL branch manager Sarah Meany, are also awaiting trial on multiple charges arising from those operations.

Jane obtained a court judgment in her favour in March this year after bringing a claim against Delta Capital. The Supreme Court ordered the company to pay her US$101,547, equivalent to approximately JMD$16 million, along with annual interest of three per cent until the debt is settled.

Delta Capital submitted no defence in response to her lawsuit.

Although Jane accepts that the funds may never be recovered, she said she has no intention of abandoning the matter without a fight.

“If I am not going to get my money back, somebody must be put in jail. It is very painful to me and heartbreaking,” she said.

*The investor’s name was changed to protect her identity.