Usain Bolt, Jamaica’s Olympic sprinting legend, has lost millions of dollars in his account with Stocks and Securities Ltd, a Kingston-based investment firm.
Lawyers for the track and field star claim that the $12 million has vanished from his account with a Jamaican investment firm and that they are prepared to go to court if necessary. There is currently only $12,000 in the account.
“The account was part of Bolt’s retirement and lifetime savings,” said his lawyer, Linton P. Gordon, over the phone to Fortune magazine.
Stocks and Securities Ltd (SSL), based in Kingston, said in a statement issued on January 12 that it had become aware of fraudulent activity by a former employee and had referred the matter to law enforcement, adding that it had taken steps to secure assets and strengthen protocols.
Olympic legend Usain Bolt has more than $12 million wiped out his investment account after massive scam. He now only has $12,000 in this account đŸ‘€đŸ˜³ pic.twitter.com/1asE2SIpP5
— Daily Loud (@DailyLoud) January 19, 2023
Bolt, an eight-time Olympic gold medalist, is widely regarded as the world’s fastest man, with world records in the 100-meter and 200-meter sprints. Bolt posted lyrics to his Twitter account on Monday that read, in part, “The History of Evil… What is the source? MONEY.”
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Jamaican financial authorities are now looking into the eight-time Olympic gold medalist’s investments. SSL has been subject to “enhanced oversight” while the investigation is ongoing, according to a statement from Jamaica’s Financial Services Commission (FSC).
According to Bolt’s manager Nugent Walker, who spoke to the Jamaica Gleaner newspaper, the 100-metre world record holder, one of the greatest athletes of all time, has invested in the company for over ten years. Bolt’s entire portfolio is now being reviewed, he said, adding that Bolt had previously noticed discrepancies with his account.
A time to keep ……. and a time to speak; A time of war, and a time of …..
— Usain St. Leo Bolt (@usainbolt) January 18, 2023
