Employee steals $3.2 million from credit union – Jamaica Observer
A 47-year-old accountant accused of stealing $3.2 million from the Palisadoes Co-Operative Credit Union pleaded guilty to eight counts of domestic theft when he appeared in Kingston Parish Court on Thursday and St. Andrew.
Dwayne Latty, who worked for the credit union, agreed to compensate his former employer for the full amount stolen.
According to court documents, Latty stole the money from the Palisadoes Co-Operative Credit Union between January and March 2021.
However, while the court did not hear how the crime was discovered, Senior Parish Judge Lori-Ann Cole-Montague advised Latty: “Sir, it is appropriate in sentencing that you repay This money.”
She then asked him where the money was and he said it was “used for other things”.
Not happy with his response, Cole-Montague then asked, “Like what else? If you steal $3 million, you should be able to account for it. What did you do with people’s money?
“Sir, your freedom is hanging by a thread, don’t waste my time,” the judge said.
“I used it for expenses over a period of time,” Latty replied.
But when asked if he had the money to pay the restitution, Latty revealed that he didn’t have the money, however, he had every intention of repaying the credit union.
Latty then told the court he needed until the end of the month to get the funds. But, he then agreed to start making payments on Thursday, April 14.
Latty was ordered to hand over his travel documents and was subject to a fingerprinting order. A stop order has also been imposed in ports on the island and he must report to the police twice a week.