Usain Bolt Loses $10 Million In Shocking Fraud Scandal

by 24USATVJan. 17, 2023, 9:20 p.m. 14
-

Eight-time Olympic gold medalist Usain Bolt has reportedly lost nearly $10 million in retirement savings due to a fraudulent investment scheme in his native Jamaica.

The sprinting legend was told last week that his money was missing shortly before Stocks and Securities Limited 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.

“Last Thursday SSL issued a statement saying that it had ‘become aware of fraudulent activity by a former employee of the company,'” reports The Observer. “The company said that following initial internal investigations it ‘referred the matter to the relevant law enforcement authorities to facilitate a thorough and complete examination of all aspects of the matter.’ Added the company, ‘To ensure this, we have taken steps to secure those assets and strengthened internal protocols to detect suspicious activity in the shortest time possible.’ The company also said it would ‘continue to liaise and cooperate fully with law enforcement throughout this investigation and ensure that the responsible party faces the full consequence of the law.'”

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

Bolt opened an account with SSL in 2012, investing just short of $10 million and leaving the money untouched for a decade. There is reportedly $2,000 left in his account as a result of financial fraud.

On Monday, the Jamaican icon posted a cryptic message on Instagram alluding to the alleged crime.

“In a World of Lies….Where is the Truth?

The History Evil….What is the Root?…MONEY

#CrypticWorld”

The world record holder in the 100 meter, 200 meter and 4 x 100 meter relay, Usain Bolt retired from sprinting after the 2017 World Championships. The 36-year-old is broadly considered the fastest man of all time.

-

Related Articles

HOT TRENDS

Tottenham vs Man City live updates

by 24USATVFeb. 5, 2023, 7:20 p.m.2
HOT TRENDS

The Economics of the Grammys, Explained

by 24USATVFeb. 5, 2023, 7:20 p.m.2
HOT TRENDS

Warriors' Curry (knee) exits win in 3rd; MRI next

by 24USATVFeb. 5, 2023, 8:01 a.m.2
HOT TRENDS

Steph Curry (lower left leg) exits vs. Mavericks

by 24USATVFeb. 5, 2023, 7 a.m.2
HOT TRENDS

Updates to Fight Night: Lewis vs Spivac

by 24USATVFeb. 5, 2023, 7 a.m.2