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Usain Bolt may have lost millions to fraud

2023-01-14T08:02:46.476Z


THE SCAN SPORT - The sprint legend may have lost all of his investments in a fund placement business.


Jamaican authorities are investigating a company holding funds invested by sprinting legend Usain Bolt, which media reports say may have lost millions of dollars in a massive fraud.

Jamaica's Financial Services Commission (FSC) said on Thursday it had placed Stocks and Securities Limited (SSL) under "

enhanced scrutiny

" pending the investigation.

Nugent Walker, Usain Bolt's manager, told Jamaica Gleaner that the retired Jamaican sprinter invested money with the company about a decade ago.

All measures have been taken to find out the end of this story

,” he said, adding that the eight-time Olympic gold medalist had noticed anomalies on his account on Wednesday.

"

His entire portfolio (of investments, editor's note) is being examined

," added Mr. Walker.

Millions of dollars are missing, according to the newspaper.

An investigation for “allegations of fraud”

Nugent Walker was not immediately available for comment.

Contacted, the SSL company did not respond on Friday.

The FSC said it was aware of "

allegations of fraud

" regarding SSL.

It said in a statement that it had issued "

instructions

" to the company, which allows it to put in place an "

enhanced monitoring process

".

This procedure allows the FSC to monitor the transactions made, including the movement of funds and securities into and out of SSL.

The FSC added that it would continue to “

investigate

” the company in parallel.

Usain Bolt retired in 2017 after a decade of unchallenged dominance in the men's sprint.

During his career, he notably won eight Olympic gold medals.

The former sprint king still holds the 100m and 200m world records.

Source: lefigaro

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