Eight-time Olympic gold medal winner Usain Bolt has reportedly lost 13 million dollars in a financial scam at a Jamaican investment firm. Lawyers representing Usain St Leo Bolt told news agencies that they will move legally if Stocks and Securities Ltd (SSL) does not return money belonging to Usain Bolt.
SSL based in Kingston, Jamaica is one of fifteen registered brokers under the Jamaica Stock Exchange.
According to lawyer Linton Gordon, Bolt was informed last week that the total funds in his account in SSL has gone down to 12000 dollars. “It is a gra ve disappointment, and we are hoping that the matter will be resolved in a way that Mr. Bolt will recover his money and be able to live in peace.” Mr. Gordon said. He also added that they will be going to court if the company does not return the funds which got disappeared from bolts’ account.
Following the revelations, SSL released a statement a few days ago saying that some of its former employees were responsible for the fraudulent activities which had impacts on investment accounts owned by Usain Bolt and other individuals.
Law enforcement agencies are not satisfied with the explanation of SSL as they doubt the latest financial fraud is part of a long-term systemic issue within the organization. The latest information available on the official website of SSL suggests that Financial Services Commission, the financial regulator in Jamaica has reportedly taken over control of the company and appointed a temporary manager to look after the operations.
Authorities and law enforcement agencies are reportedly investigating suspicious financial transactions and fraud from various accounts which trace back nearly a decade.
Finance minister of Jamaica Nigel Clarke said that SSL has committed an alarming and evil fraud. He also added that all individuals who are part of this scam will be brought to justice.
13 million dollars which were invested in SSL is a major part of the 90 million dollar fortune owned by sprinting champion Usain Bolt. Reports suggest that investment at SSL was intended to act as a retirement fund for Usain Bolt and his family
