Jamaican sprint legend and the world¡¯s fastest man Usain Bolt lost most of his savings after a scammer took around $10 million of his money. This has left him with almost nothing in the account that he opened with a Jamaican investment company, a report by the Jamaica Observer has stated.?
Currently, the living legend is worried that all the investments he made in Stocks and Securities Limited (SSL) are missing.?The recovery of millions of dollars missing from Bolt¡¯s investment account, too, remains to be seen.
On January 16, it was reported that Usain Bolt had opened an account with a local Jamaican investment company, SSL in 2012 but had never made a withdrawal since then. As per the report, Bolt is believed to have invested just slightly less than $10 million. However, a source revealed that he is now left with only $2,000, as per an?ET report.
Bolt is one among over 30 people who are believed to be a victim of fraud and whose SSL investments are believed to have been wiped out by a wealth adviser. As per the report, Jamaican Financial Services Commission (FSC) has launched an inquiry and the investment company has been placed under supervision.
SSL has also declared that its officials failed to catch the scammer. Reportedly, the company was unaware that the fraud impacted Bolt.
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The investment company SSL has 10 days to pay the money the Jamaican sprinting champion claimed was in his account through October 2022. In a letter sent to SSL on January 16, Bolt's lawyer Linton Gordon threatened legal action if the money owed to Bolt was not returned within ten days, as per Mint.
Bolt?currently holds the world records in the 100m, 200m and 4x100m with times of 9.58 secs, 19.19 secs and 36.84 secs, and has invested in the company for over 10 years, according to Bolt's manager Nugent Walker who spoke to the Jamaica Gleaner newspaper. Now, Usain Bolt¡¯s entire portfolio is being reviewed, he said while mentioning that Bolt had earlier noticed discrepancies in his account.?
The FSC says it is "aware of reports of allegations of fraud" that SSL has been facing. "The FSC has issued Directions to SSL. These Directions which were dispatched to the company on Thursday, January 12, 2023, are a supervisory tool to allow the FSC to engage an entity in a process of enhanced oversight," the FSC said in a statement, as per the report.
As per Jamaica Observer, a source revealed to the publication that although the employee suspected of being involved in the fraud was still working for the company as of January 11, SSL was aware of it since August.
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