$12 million disappeared from Usain Bolt’s account
Usain Bolt’s lawyer has alleged that his client’s account at a private investment firm in Jamaica had $12.8 million but now reflects a balance of just $12,000. A major chunk of the sprinter's retirement savings has been lost
Usain Bolt, one of the greatest Olympic sprinters, has lost more than $12.7 million in an alleged scam, according to his lawyer.
The money is missing from the Olympic sprinting legend’s account with a private investment firm in Jamaica. His lawyer has threatened civil and criminal action if the amount is not returned within 10 days, Associated Press (AP) reported on Thursday (19 January).
As per a letter sent to Kingston-based investment firm, Stocks & Securities Limited (SSL), on 16 January, Bolt’s account had $12.8 million but now reflects a balance of only $12,000.
The letter provided by Linton P Gordon, a lawyer for Bolt, to AP says, “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”.
“It’s distressful news for anyone,” the lawyer said on Wednesday. “And certainly in the case of Mr Bolt, who established this account as part of his private pension.”
Bolt’s manager, Nugent Walker, told a local newspaper, The Jamaica Gleaner, that the sprinter has invested with Stocks & Securities Ltd for over a decade and now his entire portfolio is being reviewed after the alleged discrepancies came to light, AP reported.
As per Jamaica Observer, Bolt is among the more than 30 investors whose funds were allegedly stolen by a former employee of the investment firm.