Usain Bolt: Investigations Launched As Sprint Olympic Legend Discovers Discrepancies With Finances

Usain Bolt: Investigations Launched As Sprint Olympic Legend Discovers Discrepancies With Finances

  • Retired sprinting icon Usain Bolt has mysteriously lost close to 10 million USD in what has been termed a case of fraud
  • The incident was discovered by Bolt's financial team with Jamaican authorities taking immediate action
  • Bolt, who retired in 2017, is still the world record holder in the 100 and 200 metres

Take a moment and imagine any investment you have. Be it monetary or emotional. Then one day you wake up and realise it's all gone with little hope of recovery.

This is the predicament facing multiple World and Olympic champion Usain Bolt. The Jamaican sprint legend's accounts of more than 10 million USD have been wiped clean with only 2,000 USD left in the account.

Usain Bolt, Jamaica, fraud, Stock and Securities Limited, Olympics, World Champion
Retired sprint legend Usain Bolt during the Rio Olympics in 2016. Photo by Ian MacNicol.
Source: Getty Images

Bolt is one of the more than 30 victims of the fraud that befell Stock and Securities Limited(SSL) where he had massively invested in.

SSL put out a statement last week claiming that a former employee had fleeced the company close to 1.2 billion USD. The Jamaican Observer reports that the company had noticed the fraudulent activities as early as August last year but the suspected employee was still contracted with the company up to last week.

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When did Bolt open the account?

The company took action after Bolt's financial team brought the matter to their attention. The Olympian is said to have opened the account in 2012 and deposited 10 million USD. He has never made any withdrawals but upon checking the account, the team realised that only 2,000 USD was in the account.

The BBC reports that Jamaica's Financial Services Commission has barred the SSL from undertaking sales or trading without express permission from the body.

There are fears that the money might never be recovered. He took to his Twitter account and uploaded a cryptic post about money.

Bolt is arguably the most decorated sprint star of all time. He retired in 2017 having won 11 World Championship medals and eight Olympic medals.

His times of 9.58 seconds in the 100 metres and 19.19 seconds in the 200 metres both set in 2008 are still the world records to date.

Bolt aims dig at US Magazine

Previously, Sports Brief reported that Usain Bolt took to his Twitter account to remind the world that he is still the greatest sprinter the world has ever seen.

A USA Track and Field Magazine FloTrack had pipped Fred Kerley to break Usain Bolt's long-standing record in the 100 metres races.

Kerley is part of the new generation of sprinters that have taken over since Bolt left the scene. Kerley stormed to victory in the finals of the World Athletics Championships in Oregon with a time of 9.86 seconds.

Source: SportsBrief.com

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