Usain Bolt’s attorneys claim their client was scammed of $12.7 million from his account with a private investment business in Jamaica, which the authorities are investigating. Last week, Bolt was notified that his account balance at Stocks and Securities Ltd (SSL) in Kingston, Ontario had mysteriously decreased. Bolt’s attorney, Linton P. Gordon, said on Friday that the $12.8 million account now contains just $12,000. Gordon said, “We will take the case to court” if the corporation does not refund the monies. “If this is true, and we hope it is not, then our client has been the victim of a terrible act of fraud, theft, or a combination of both,” he continued.
If the money is not returned within ten days, civil and criminal actions are threatened. SSL, a private wealth management business headquartered in Kingston, was put under “increased control” while the Financial Services Commission (FSC) examines the company. “We recognize that our customers are eager for additional information, and we promise you that we are actively monitoring the situation throughout all necessary procedures and will notify our clients as soon as such information is available,” the business stated. Earlier this month, SSL said that it had identified the scam and that some of its customers may be missing millions of dollars. Nigel Clarke, minister of finance for Jamaica, described the situation as disturbing but emphasized its rarity. “It is easy to distrust our financial institutions, but I would urge that we not tar an entire honest sector with the same brush as a few dishonest people,” he added.
Ten-year investment returns
Bolt’s manager, Nugent Walker, has said to The Gleaner that the former sprinter had held interests with the corporation for over a decade. In 2017, the athlete retired following a career that includes eight Olympic golds and eleven World Championship medals. At the 2008 Olympics in Beijing, he won both the 100-meter and 200-meter sprints, setting new world marks in both events. The Jamaican went on to win both events in London (2012) and Rio (2016). Bolt’s 100-meter time of 9.57 seconds, established in Berlin in 2009, is still the world record, and he also holds the 200-meter mark. In 2018, he made his debut as a professional football player with the Central Coast Mariners in a preseason friendly in Australia.
