Millions of dollars have reportedly been flushed from Olympic champion Usain Bolt’s accounts at an investment firm.
This has been confirmed by the sports star’s manager Nugent Walker, according to The Gleaner. There is an ongoing investigation being conducted by the Financial Investigations Division and Financial Services Commission Stocks to look further into Bolt’s accounts at Jamaican investment firm Stocks and Securities Limited (SSL).
Walker could not state the amount of the funds involved in the case.
“All the relevant steps have been taken to come to the bottom of this,” Walker said, according to The Gleaner.
Bolt signaled the alarm on Wednesday, Jan. 11 when he noticed inconsistencies in his account.
It’s also important that he has held an account with SSL for over a decade. Therefore, the investigation will review Bolt’s entire portfolio.
Former Employee Has Been Implicated
Furthermore, it has been revealed that a former employee is connected to a massive fraud at SSL and is being implicated for the inconsistencies in Bolt’s accounts.
“My client is in discussion with SSL and the lawyers representing SSL,” Tamika Harris, the attorney representing the implicated employee, explained to The Gleaner.
Back in 2016, Forbes listed Bolt as the highest-paid athlete in sports, thanks to his earnings valued at $32.5 million. Bolt reached this milestone from appearances, prize money, and sponsors.
Although Bolt is currently retired, he still has an array of sponsorships with one being Puma. Bolt first signed with the company at 16. Under a later deal, he worked alongside the sportswear apparel company as an active athlete from 2013-2017 and earned $10 million annually, according to Forbes.
The deal also guaranteed that when Bolt became a retired athlete, Puma would then pay him $4 million per year as an ambassador, according to Sports Illustrated.
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Bolt is worth $90 million, according to Celebrity Net Worth.