Home Breaking News Jamaican Athlete Usain Bolt Falls Victim to $12.7 Million Investment Scam

Jamaican Athlete Usain Bolt Falls Victim to $12.7 Million Investment Scam

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Attorneys representing Usain Bolt, an eight-time Olympic gold medal winner, have reported that their client has fallen victim to fraud totaling $12.7 million from his account with a private investment firm based in Jamaica, which is currently under investigation by authorities. Bolt was informed last week that the balance in his account with Kingston-based Stocks and Securities Ltd (SSL) had significantly decreased without explanation.

Bolt’s lawyer, Linton P Gordon, announced on Friday that the company’s account, which previously held $12.8 million, now only has $12,000 remaining. Gordon stated that legal action will be taken if the funds are not returned, and expressed suspicion of fraud or larceny. The company has given a deadline of 10 days for the money to be returned before taking both civil and criminal action.

SSL, a corporation that focuses on financial services and is based in Kingston, was put under “heightened supervision” by the Financial Services Commission (FSC) while their investigation is pending. The company stated, “We recognize that customers are eager to get more details and we want to assure everybody that we are constantly observing the situation in all of the necessary phases and will inform our customers of the judgment as soon as it is available.” SSL declared that they identified the swindle earlier this month and that some of their clients may have lost a great deal of money. Jamaica’s Finance Minister, Nigel Clarke, expressed that the occurrence was disconcerting yet not typical.

A decade of investment

  • The sportsman ended his career in the year 2017 with a remarkable record that included 8 Olympic titles and 11 World Championship awards. He was hailed across the globe when he achieved a remarkable feat in the 2008 Beijing Olympics by winning both the 100 meter and 200 meter sprints, setting two new world records.
  • The Jamaican sprinter also achieved the same feat in the 2012 London Olympics and the 2016 Rio Olympics.
  • Bolt’s amazing time of 9.57 seconds in the 100-meter race, which he set in Berlin in 2009, still remains the world record and he also holds the record for the fastest 200-meter race.