Sprint legend Usain Bolt has been the topic on most people’s lips for the past few days. The retired sprinter was fleeced of approximately US$12 million by the investment firm Stocks and Securities Limited (SSL).
The Jamaica Observer reported that Bolt opened an account with the investment firm in 2012. Although they have not been able to ascertain an exact date as to when the fraudulent activities began, it was reported that questionable transactions have been made on the sprinter’s account without his knowledge since its creation in the same year.
The Financial Investigations Division (FID) has since announced the appointment of a special investigator to look into the troubling matter, but this is insufficient for the retired sprint legend.
The special investigator is a part of an intense surveillance that was started by the Financial Services Commission (FSC) after it was informed of the accusations of fraud against Stocks and Securities Limited (SSL).
The FSC has since issued instructions to the investment firm as a supervisory tool that would allow them to go in for the investigation process. The instructions state that SSL can continue to conduct business on behalf of their clients, but the FSC has to watch over and authorize these transactions.
On Monday, a representative for the FID stated that the inspection is still young and that they are still collecting testimonies.
Attorneys representing Usain Bolt announced today that they are giving the investment firm ten days to return every penny that was taken from their client’s account. The law firm of Frater, Ennis & Gordon wrote to the organization claiming that on October 31, 2022, Bolt had a total of approximately US$12 million in his account, which has since been reduced to US$12,000.
The law firm indicated that if the full amounts are not returned within the next 10 days, they will be taking criminal and civil actions against the company.