Key takeaways:
- Usain Bolt is seeking the return of more than $12.7 million from a private investment firm in Jamaica that is currently under investigation by law enforcement.
- Selvin Hay, Chief Technical Director of Jamaica’s Financial Investigations Division, has confirmed that Jamaican law enforcement was alerted to alleged fraud at SSL on January 11.
- It is unclear if Bolt will be able to recover the missing funds, as the investigation into SSL is ongoing.
Olympic gold medalist Usain Bolt is seeking the return of more than $12.7 million from a private investment firm in Jamaica that is currently under investigation by law enforcement.
Bolt’s lawyer, Linton Gordon, told Reuters on Tuesday that the former sprinter’s account with Stocks & Securities Ltd (SSL) had a balance of $12.8 million, but now only reflects a balance of $12,000. Gordon has sent a letter to SSL demanding the return of the money.
Selvin Hay, Chief Technical Director of Jamaica’s Financial Investigations Division, told CNN that Jamaican law enforcement was alerted to alleged fraud at SSL on January 11, affecting accounts belonging to Bolt and others.
Bolt’s attorneys say in the letter that “if this is correct, and we are hoping it is not, then a serious act of fraud larceny or a combination of both have been committed against our client.”
The investigation into SSL is ongoing and it is not yet known if the missing funds were stolen or if they were misappropriated. It is also unclear if Bolt will be able to recover the missing funds.
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