Usain Bolt, Jamaica’s Olympic sprinting legend, has reportedly lost millions of dollars from his account with Kingston-based investment firm Stocks and Securities Ltd. Lawyers for the track and field star have stated that $12 million has vanished from his account with the Jamaican investment firm, leaving only $12,000 remaining.
The account was intended to serve as a pension for the eight-time Olympic gold medalist sprinter and for his parents, according to his lawyer, Linton P. Gordon. Gordon has stated that they are prepared to take the case to court if necessary and that “We will be going to court with the matter” if the company does not return the funds.
Stocks and Securities Ltd (SSL) has said in a statement that they have referred the matter to law enforcement and have taken steps to secure assets and strengthen protocols. The Jamaica Constabulary Force has also launched an investigation into the alleged fraudulent activities at SSL, which are said to have affected the accounts of Bolt and other individuals.
Jamaica’s Financial Services Commission has announced that it is conducting an investigation into the activities of Stocks and Securities Limited and has placed the company under “enhanced oversight” during the probe.
According to reports, retired sprinter Usain Bolt, widely considered to be one of the greatest athletes of all time, has had investments with the company for over a decade. Bolt’s manager, Nugent Walker, has stated that all necessary steps have been taken to fully investigate the matter and that Bolt himself noticed discrepancies with his account on Wednesday.
Finance Minister Nigel Clarke has called the alleged fraud “alarming and evil” and has promised that authorities will bring all perpetrators to justice.