Usain Bolt Loses Over 12 Million Dollars; Everything You Need To Know
Jamaican Olympic sprinting legend, Usain Bolt loses over 12 million dollars from his account. Read on to more
Usain Bolt, the legendary Jamaican sprinter who won gold at the Olympics, lost more than $12 million in fraud. Usain Bolt's attorneys claim that this sizable sum of money has disappeared from his account that was with a private Jamaican investment firm. The account now holds a balance of only $12,000. As a result, his attorney has threatened to take civil and criminal action if the money is not returned within 10 days.
During a news conference, Usain Bolt's attorney, Linton P. Gordon, said that the account contained some of Bolt's retirement and lifetime savings. Not only that, but Bolt's manager, Nugent Walker, also revealed that the sprinter has been investing with Stocks & Securities Ltd for more than ten years and that his entire portfolio is currently being reviewed following the discovery of the alleged anomalies.
Further, Stocks and Securities Ltd. (SSL) is being investigated due to this fraud. To check into the claims of fraud at this private wealth management organisation, financial authorities in Jamaica have launched an investigation and hired a special auditor. Moreover, all SSL transactions are also being examined by Jamaica's Financial Services Commission (FSC). Hence, the investment firm has requested all of its clients to contact FSC with any questions while the inquiry is ongoing.
Additionally, the Jamaica Constabulary Force's fraud and financial investigation teams are looking into alleged fraudulent actions at SSL that are said to have impacted Mr. Usain Bolt's account among others.
Bolt, who has won eight Olympic gold medals and holds the 100- and 200-meter world records, is regarded as the fastest man alive. He retired in 2017 after dominating the sprinting world for a decade, bringing back a sport marred by doping scandals and evolving into a household icon like Muhammad Ali and late Brazilian soccer legend Pele.