Investigation Opened As Usain Bolt Loses £10million To Fraud
20 Jan 2023
An investigation has been launched over $12.7m (£10m) missing from Usain Bolt’s account with a private investment firm in Jamaica.
Jamaica’s Financial Services Commission (FSC) has placed investments firm, Stocks and Securities Limited (SSL), under investigation and Bolt has threatened civil and criminal action if the money is not returned within 10 days.
Lawyers of eight-time Olympic gold medallist say their client has been left with just $12,000 of the original multi-million dollar investment.
“We will be going to court with the matter if the funds are not returned,” lawyer Linton 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.”
On the Stocks & Securities Limited website, the company asked that clients direct all urgent queries to Jamaica’s Financial Services Commission.
“We understand that clients are anxious to receive more information and assure you that we are closely monitoring the matter throughout all the required steps and will alert our clients of the resolution as soon as that information is available,” the company said.
The company has said it discovered the fraud earlier this month and that several of its clients may be missing millions of dollars.
Jamaica’s finance minister, Nigel Clarke, called the situation alarming and unusual.
“It is tempting to doubt our financial institutions, but I would ask that we don’t paint an entire hard working industry with the brush of a few very dishonest individuals,” he said.