Prime Minister Andrew Holness has sought to defend the strength and soundness of the country’s financial system.

This amid reports of fraudulent activities at Stocks and Securities Limited (SSL).

Investor confidence, both locally and internationally, has fallen, following reports that among those affected by the multi-million dollar fraud at SSL is athlete, Usain Bolt.

In a statement yesterday (January 20), Mr Holness said while the fraudulent activity at the institution has sparked immediate fear and general concern, there is no need for panic about the strength and soundness of the financial system.

As the probe into the fraud case continues, the former SSL employee accused of taking the money is cooperating with investigators.

In addition to Bolt, several persons, some of them retired elders, are among those impacted by the fraud.

Bolt, through his lawyers, has demanded that SSL return the stolen money by January 27, or face civil and criminal suits.