Earlier in January 2023, it was reported that Usain Bolt had missing funds from his accounts at an investment firm.
As previously shared by AfroTech, Financial Investigations Division and Financial Services Commission Stocks conducted an investigation on the Olympic champion’s behalf against Jamaican investment firm Stocks and Securities Limited (SSL).
“All the relevant steps have been taken to come to the bottom of this,” Bolt’s manager Nugent Walker said, according to The Gleaner.
After Bolt found inconsistencies in his accounts, a former employee — who is said to be tied to the alleged fraud at SSL — has been implicated.
“My client is in discussion with SSL and the lawyers representing SSL,” Tamika Harris, the attorney representing the implicated employee, told The Gleaner.
Initially, Walker was unable to share the amount which was said to have vanished, but they have since been revealed.
According to Bolt’s lawyer, Linton P. Gordon, Bolt was “shocked to discover” $12 million from his retirement and life savings is gone, Bloomberg reports. Due to the alleged scam, the account has nearly $12,000.
“It’s distressful news for anyone,” Gordon said, according to the outlet. “And certainly in the case of Mr. Bolt, who established this account as part of his private pension.”
“In a World of Lies….Where is the Truth? The History Evil….What is the Root?…MONEY #CrypticWorld,” Bolt shared via Twitter on Jan. 16.
— Usain St. Leo Bolt (@usainbolt) January 16, 2023
On Jan. 17, Jamaica’s Financial Services Commission claimed “it had installed its own temporary manager at SSL, following reports of allegations of fraud that had earlier prompted the commission to put the bank under enhanced oversight,” the outlet details.
Gordon says regulators have failed to communicate with him or Bolt. The next course of action is if Bolt’s funds aren’t returned in eight days, he will take the case to the Supreme Court in Kingston.