Former Olympian, Usain Bolt, has reportedly fallen victim to a fraud scheme, resulting in over $12M disappearing from his retirement savings account. In a letter that Bolt’s attorney wrote to the Associate Press, Jamaica’s elite sprinter has an account with the investment firm, Stocks and Securities Ltd. based in Kingston. And when he recently checked his account, he noticed that his $12.8M balance was now down to $12,000!
“If this is correct, and we’re hoping it’s not, then a serious act of fraud larceny or a combination of both have been committed against our client,” Bolt’s attorney proclaimed in his letter. In addition to issuing the statement, Bolt’s attorneys are going as far as threatening civil and criminal action if the money isn’t returned within ten days. Its escalation has also reached the desks of Jamaica’s Financial Services Commission, which is now investigating the investment firm.
“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,” shared Nigel Clarke, the finance minister of Jamaica.
When the firm reached out to Bolt, to deliver the heart-wrenching news, they offered very little explanation. On their website, they shared a short statement of their own. “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.”
This story is developing and will be updated as new developments are shared.
