Millions disappear from sprinter Usain Bolt’s investment account
According to reports, Bolt had observed discrepancies in his account previously and has now lost $12 million.
Hyderabad: Jamaican sprinter Usain Bolt lost millions of dollars from his investment account at Stocks and Securities Limited (SSL). According to reports, Bolt had observed discrepancies in his account previously and has now lost $12 million.
Lawyers for the Olympian sent a notice to the investment firm threatening legal action if the money wasn’t returned within 10 days. Only $12,000 is left in the account now, they said, adding that the account was part of Bolt’s retirement fund and lifetime savings.
Stocks and Securities Ltd in a January 12 statement said that it had become aware of fraudulent activity by a former employee and has referred the matter to law enforcement. They also informed that steps to secure assets and strengthen protocols have been taken.
However, several reports suggest that although the company was aware of the employee’s activities as early as August 2022, he remained on the job until recently.
Bolt’s investment account is now under the scanner by the Jamaican financial authorities, Financial Services Commission. He invested with SSL around 10 years ago.
Bolt retired in 2017 after dominating global sprinting for a decade, reviving a sport plagued by doping scandals and becoming a household name like Brazilian soccer legend Pele and American boxing champion Muhammad Ali.
