January 19, (THEWILL) – Jamaican sprinting legend, Usain Bolt, has reportedly lost $12 million from his account with Kingston-based investment firm Stocks and Securities Ltd.
Bolt’s lawyer, Linton P. Gordon, revealed that only $12,000 remains in the account, which was intended to serve as a retirement and lifetime savings for the eight-time Olympic gold medalist and his parents.
Gordon stated that they are prepared to take legal action against the company if the funds are not returned. In response, Stocks and Securities Ltd (SSL) has claimed that they were made aware of fraudulent activity by a former employee and have referred the matter to law enforcement.
The Jamaica Constabulary Force is currently investigating the alleged fraudulent activities at SSL, which reportedly affected the accounts of Bolt and other individuals.
Finance Minister, Nigel Clarke, has described the situation as “alarming and evil fraud” and has pledged that authorities will bring all perpetrators to justice. The news comes as a disappointment for Bolt, who retired from competitive sprinting in 2017 and has since become a household name like Brazilian soccer legend, Pele and American boxing champion, Muhammad Ali.
About the Author
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
