Usain Bolt is missing $12.7 million from his Jamaica account, lawyers say

Lawyers for Usain Bolt, one of the world’s top sprinters, said Wednesday that more than $12.7 million is missing from his account with a private investment firm in Jamaica that authorities are investigating.

Attorney Linton P. Gordon provided The Associated Press with a copy of a letter sent to Stocks & Securities Limited requesting the return of the money.

Gordon said Bolt’s account was once $12.8 million but now reflects a balance of just $12,000.

“If this is correct, and we hope it is not, then grand theft fraud or a combination of both was committed against our client,” Bolt’s attorneys wrote in the letter.

They threaten civil and criminal action if the money is not returned within 10 days.

Stocks & Securities Limited did not immediately respond to a request for comment. On its website, the company urged customers to direct any urgent inquiries to the Jamaica Financial Services Commission, which is investigating the company.

“We understand that customers are keen to receive more information and assure you that we are closely monitoring the matter throughout all necessary steps and will update our customers of the resolution as soon as this information becomes available,” the company said.

The company has said it discovered the scam earlier this month and that several of its customers may be missing millions of dollars.

Jamaica’s Finance Minister Nigel Clarke described the situation as alarming but noted that it was unusual.

“It’s tempting to doubt our financial institutions, but I would ask that we do not paint an entire hard-working industry with the brush of a few very dishonest individuals,” he said.

Bolt’s lawyers sent the letter on Monday, the same day Jamaica’s Financial Services Commission announced it was appointing a special auditor to investigate fraud allegations at Kingston-based Stocks & Securities Limited.

On Tuesday, the tax authorities said they would temporarily take over the management of the private investment firm. It may continue to operate but requires government approval for all transactions.

Bolt, who retired in 2017, holds the world records in the 100m, 200m and 4x100m. Usain Bolt is missing $12.7 million from his Jamaica account, lawyers say

Rick Schindler

World Time Todays is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – The content will be deleted within 24 hours.

Related Articles

Back to top button