Bayelsa Times

Usain Bolt loses $12m in savings to scam

Crime Foreign Sports

Jamaican Olympic sprinter Usain Bolt has reportedly lost $12 million from an account he had with Kingston-based investment firm Stocks and Securities Limited.

Bolt was recently told there was only about $12,000 remaining in the account, his lawyer Linton P. Gordon said in a phone interview, reports Bloomberg.

The account was said to be part of Bolt’s retirement and lifetime savings.

“It’s distressful news for anyone. And certainly in the case of Mr. Bolt, who established this account as part of his private pension,” Gordon said on Wednesday.

Jamaica’s Financial Services Commission on Tuesday said it had installed its own temporary manager at SSL, following reports of allegations of fraud that had earlier prompted the commission to put the bank under enhanced oversight.

Gordon said regulators have not communicated with him or his client, adding that if Bolt does not see the money returned within eight days, he plans to take the case to the Supreme Court in Kingston.

Bolt, an eight-time Olympic gold medal winner, is considered the world’s fastest man, holding world records in the 100-meter and 200-meter races.

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