Featured Image Credit: Mariano Garcia / Alamy. SPP Sport Press Photo. / Alamy.
Topics: Usain Bolt, Athletics, Jamaica
Jayden Collins
Topics: Usain Bolt, Athletics, Jamaica
One of the greatest athletes of all time, Usain Bolt has found himself on the end of a mammoth loss of AU$18.2 million (US$12.7m).
The world-renowned sprinter was named on Forbes Magazine’s list of the 100 richest athletes in the world, coming in at number 45 in 2018.
Bolt has been investing a fair chunk of his wealth into a private investment firm in Jamaica by the name of Stocks & Securities Limited.
And well, it looks like that fair chunk has gone missing.
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Lawyers for the eight-time Olympic gold medalist have said that more than A$18.2 million (US$12.7m) has gone missing from that account.
The Associated Press reports, via Wide World of Sport, that the account now only reflects $12,000.
In a letter obtained by The AP, the Jamaican's attorneys have demanded that the money be returned.
The letter read: “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.”
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They have threatened legal action if the money is not return within 10 days, according to Wide World of Sports.
SPORTbible has reached out to Stocks & Securities Limited for comment directly with no response as of yet.
However, the company website says that Jamaica’s Financial Services Commission is currently investigating the firm with delayed responses to clients.
The company website says: “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.”
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The company says that they discovered the fraud in multiple accounts earlier this month and that serval clients were missing money.
Jamaica’s finance minister Nigel Clark called the situation alarming.
He said: “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.”
The investigation of the company kick-started following the letter from Bolt’s lawyers.
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They are allowed to keep operating, but any transactions need to be approved by financial government authorities.