In a shocking turn of events, legendary Jamaican sprinter Usain Bolt had to bear the distressing news of his financial loss with only $12,000 left in his bank account.
Bolt, 36, lost millions of dollars in his account with Kingston-based investment firm, Stocks and Securities Ltd. With a whopping amount of $12.7 million lost, the Jamaican athlete’s lawyers are gearing up to take the case to court, if necessary.
The funds in the IAAF World Athlete of the Year 2016 recipient’s account were intended to serve as a pension for his parents.
Deafening Silence
— Usain St. Leo Bolt (@usainbolt) January 19, 2023
“The account was part of Bolt’s retirement and lifetime savings. It’s distressing news for anyone, and certainly in the case of Mr. Bolt, who established this account as part of his private pension. We will be going to court with the matter if the company does not return the funds. It is a grave disappointment, and we are hoping that the matter will be resolved in a way that Mr. Bolt will recover his money and be able to live in peace,” his lawyer, Linton P. Gordon, told Fortune magazine.
Gordon also provided the Associated Press with a copy of a letter sent to Stocks & Securities Limited (SSL) demanding that the funds be returned.
The investment firm in question, Kingston-based Stocks and Securities Ltd (SSL), issued a statement claiming that it become aware of shady activity by a former employee and resorted to law enforcement.
The Jamaica Constabulary Force stated that its investigation teams were probing “alleged fraudulent activities at (SSL) which are said to have affected the accounts of Mr. Usain Bolt among other individuals.”
Bolt retired in 2017 after reigning in the global sprinting sports for over a decade, cementing himself as a household name.
