Usain Bolt, Jamaica’s Olympic sprinting champion, lost millions of dollars in his account with Stocks and Securities Ltd, an investment company based in Kingston.
The track star’s attorneys said they are ready to file a lawsuit if that will make it possible to recover the $12 million that mysteriously disappeared from Bolt’s account.
Nairametrics gathered that there is currently only $12,000 left in the account. Part of the statement by Bolt’s lawyers said:
- “The account was part of Bolt’s retirement and lifetime savings,” his lawyer, Linton P. Gordon, told Fortune magazine over the phone. It’s distressing news for anyone, and certainly in the case of Mr Bolt, who established this account as part of his private pension,” Gordon said on Wednesday.
- “We will be going to court with the matter” if the company does not return the funds, Gordon said. It is a grave disappointment, and we are hoping that the matter will be resolved in a way that Mr Bolt will recover his money and be able to live in peace.”
The company responded: Stocks and Securities Ltd said in a statement on January 12 that it learned of the fraudulent activity by a former employee and had alerted law enforcement to the situation.
It also said that it had taken measures to secure customers’ assets and tighten protocols.
A separate statement released on Monday by the Jamaica Constabulary Force said the “alleged fraudulent activities at SSL that are said to have affected the accounts of Mr Usain Bolt and other individuals” are being looked into by those teams.
Jamaican Government gets involved: On Tuesday night, Jamaica’s Finance Minister Nigel Clarke claimed that SSL had committed “alarming and evil fraud” and promised to “bring all perpetrators to justice.”
The Associated Press reported that Mr Bolt’s account with the company was created to act as a pension for both of his parents and the eight-time Olympic gold medal-winning sprinter.
Bolt retired in 2017 after dominating the sprinting world for a decade, bringing back a sport marred by doping scandals, and becoming a household name like Muhammad Ali and Brazilian soccer legend Pele.