Usain Bolt’s Laywer Threatens Legal Action Over $12.7 Million Fraud Scheme

The lawyer for sprinting legend Usain Bolt has threatened legal action against Kingston-based company Stocks and Securities Limited after tens of millions in retirement savings suddenly went missing from his account, according to Reuters.

Bolt is seeking to recover over $12.7 million in funds from SSL, attorney Linton Gordon says. The Jamaican icon was informed last week that his account balance had inexplicably been cut to approximately $12,000.

“We will be going to court with the matter [if the company does not return the funds]”, Gordon said, per Reuters. “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.”

Jamaica Finance Minister Nigel Clarke promised on Tuesday to “bring all perpetrators to justice” of SSL’s “alarming and evil fraud.”

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Bolt, an eight-time Olympics gold medalist, learned his money was missing shortly before SSL went public detailing a massive internal fraud plot that cost clients approximately $1.2 billion, according to Jamaica Observer. Bolt is among over 30 people who have reportedly been victimized by the nefarious actions of a wealth advisor at SSL.

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SSL has reportedly been aware of the scheme since August, but the employee suspected of perpetrating it was still employed as of last Wednesday, the same day Bolt’s representatives met with the company. Bolt’s team first requested a meeting with SSL in December after noticing discrepancies in his financial portfolio.

Bolt opened an account with SSL in 2012, originally investing just short of $10 million and leaving the money untouched for a decade.

The world record holder in the 100 meter, 200 meter and 4 x 100 meter relay, Usain Bolt retired from sprinting in 2017 as the undisputed fastest man of all-time.

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