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Usain Bolt is arguably the only other athlete in competition with Michael Phelps in terms of sheer dominance. Lightning Bolt was the most exhilirating performer of all time, gathering crowds of thousands from across the globe to get a glimpse of his sprint. Throughout his career, he managed to gather a healthy sum of money that he saved up for the future of his family. However, a recent case of massive fraud has seen him lose nearly $12.7 million and affected more than 30 other people.
$12.7 million of Usain Bolt's money has gone missing from the Jamaican private investment firm, Stocks and Securities Limited (SSL), as per the sprinter's lawyers. An investigation into the matter has been launched along with the involvement of the FBI. On Friday, Bolt told reporters that he has already taken action and fired his business manager over the scandal and that the split was not very pleasant.
Bolt's lawyers reach out to SSL and the Jamaican government gets involved
The bitter split is understandable, especially as seeing that the Jamaican's investment account, which was intended to serve as a pension for the sprinter and his parents, now sees a mere $12,000 according to his lawyer Linton Gordon. He also gave SSL a Friday ultimatum in a letter written to the company on January 16, threatening to take legal action if the money is not returned by then.
Seeing as the money was not returned, Jamaica's Financial Services Commission announced on January 17 that they have taken control of the company by assigning Kenneth Tomlinson as the acting manager. Jamaica's Finance Minister made a statement regarding the situation:
"Like all Jamaicans, I am in shock, and feel a profound level of anger and disgust, at the alarming and evil fraud that has allegedly been committed at Stocks and Securities Limited, which is a source of public discussion and anxiety at this time."
Earlier this month, the former SSL Client relationship manager confessed to being involved in the fraud in a written statement. The employee said that the scheming began as early as 2010 when her father was diagnosed with cancer and she 'borrowed' money from client accounts to pay for his treatment. During the interrogation, she wrote a list of accounts she took money from but Usain Bolt's name wasn't listed.
Usain Bolt talks about the loss
Seeing as $12.7 million was stolen from him, the former sprinter was questioned on his financial situation right now by AP News. He laughed and replied:
"I’m not broke, but it’s definitely put a damper on me ... It was for my future. Everybody knows I have three kids. I’m still looking out for my parents, and I still want to live very well."
Over 30 other accounts were also stolen from, many of whose owners were elderly citizens. Responding to the situation, the decorated Olympian said:
"It’s always a sad situation. Definitely disappointed ... Everybody’s confused. … I’m as confused as the public."
The situation is currently being further looked into by various government agencies and the FBI as they try to gain an accurate understanding of all the events that led up to the fraudulent activity.
