Usain Bolt defrauded of $12m life savings. Usain Bolt, the legendary Olympic sprinter from Jamaica, lost millions of dollars in his account with Stocks and Securities Ltd, a Kingston-based financial institution.
The racing star’s attorneys have stated that they are ready to launch a lawsuit if doing so would allow them to retrieve the $12 million that inexplicably vanished from Bolt’s account.
Bolt’s lifetime savings and retirement funds were included in the account, according to a statement from his attorneys.
Gordon said on Wednesday that the revelation was sad for everyone and especially for Mr. Bolt, who set up the account as a component of his private pension.
If the corporation does not refund the monies, “We will be going to court with the case,” his attorney, Linton P. Gordon, told Fortune magazine over the phone.
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It is a serious disappointment, and we are hopeful that the situation can be settled so that Mr. Bolt may get his money back and live in peace.
In response to the event, Stocks and Securities Ltd stated in a statement on January 12 that it had been made aware of the former employee’s illegal activities and had notified police enforcement.
It said that it has tightened standards and taken steps to safeguard consumers’ assets.
Nigel Clarke, the finance minister for Jamaica, asserted SSL had perpetrated “alarming and vile fraud” on Tuesday night and vowed to “bring all criminals to account.”
According to the Associated Press, Mr. Bolt’s account with the business was established as a pension for both of his parents as well as the eight-time Olympic gold medalist sprinter.
After dominating the sprinting world for a decade, reviving a sport ravaged by drug scandals, and establishing himself as a household icon like Muhammad Ali and Brazilian soccer star Pele, Bolt announced his retirement in 2017.
