Usain Bolt missing Sh1.5 billion from account in Jamaica, attorneys say
Authorities in Jamaica have opened a probe after millions of dollars were reported missing from retired athlete Usain Bolt’s account.
Lawyers for one of the world’s greatest sprinters, said Wednesday that more than Sh1.5 billion ($12.7 million) is missing from his account with a private investment firm.
Jamaica’s Financial Services Commission (FSC) said it have commenced an investigation against Stocks and Securities Limited (SSL), the company holding investments for the Olympic gold medalist.
Bolt’s manager Nugent Walker told the Jamaica Gleaner newspaper that the retired sprinter has had investments with the company for over 10 years.
“All the relevant steps have been taken to come to the bottom of this,” Walker said.
Linton P. Gordon Bolt’s lawyer, provided The Associated Press with a copy of a letter sent to Stocks & Securities Limited demanding that the money be returned.
Gordon said Bolt’s account once had Sh1.58 billion but now reflects a balance of only Sh1.5 million ($12,000).
“If this is correct, and we are hoping it is not, then a serious act of fraud larceny or a combination of both have been committed against our client,” Bolt’s lawyer said in the letter.
They threaten civil and criminal action if the money is not returned within 10 days.
The company has said that it discovered the fraud earlier this month and that several of its clients may be missing millions of dollars.
In a statement, FSC said it was aware of reports of allegations of fraud at one of its licensees (SSL).
“The FSC has issued Directions to SSL. These Directions which were dispatched to the company on Thursday January 12, 2023 are a supervisory tool to allow the FSC to engage an entity in a process of enhanced oversight,” it said.
The FSC will simultaneously continue its investigations into matters related to SSL.”
Bolt, 36, retired from athletics in 2017 after a stellar career that saw him clinch eight Olympic golds and 11 World Championship gold medals.
Bolt’s 100m time of 9.57, set in Berlin in 2009, remains the world record. He also retains the fastest time in 200m.