Who Defrauded Usain Bolt Of $12.7m In Jamaica?

Who Defrauded Usain Bolt Of $12.7m In Jamaica?

That is the big question begging for an answer, especially from the private investment firm in Jamaica where the money was lodged.

In the interim, Bolt, a retired sprint sensation, can only wait and hope for the best, having already written to Stocks & Securities through his lawyers.

The global sporting sensation is demanding that the money be returned within ten days, failing which he could institute a criminal and civil action against the firm.

Reports on the case monitored by The Eagle, indicates that Bolt’s account which was once having $12.8 million, currently reflects only $12,000.

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There were reports of a statement earlier on Monday by the Jamaica Constabulary Force that: the “alleged fraudulent activities at SSL that are said to have affected the accounts of Mr Usain Bolt and other individuals” are being looked into…”

“The account was part of Bolt’s retirement and lifetime savings.

“It’s distressing news for anyone, and certainly in the case of Mr Bolt, who established this account as part of his private pension”, Bolt’s lawyer, Linton P. Gordon was quoted as saying.

“We will be going to court with the matter” if the company does not return the funds.

“It is a grave disappointment, and we are hoping that the matter will be resolved in a way that Mr Bolt will recover his money and be able to live in peace,” he added.

Stocks and Securities Ltd while reacting in a statement credited the act to a former employee, adding that it learnt of the development on January 12.

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The matter is causing serious concern in the whole of Jamaica, Bolt’s home country eliciting reactions from far and wide.

Bolt

Jamaica’s Finance Minister Nigel Clarke is one of the officials that had reacted.

Clarke said SSL had committed “alarming and evil fraud” and promised to “bring all perpetrators to justice.”

The Associated Press reported that Mr Bolt’s account with the company was created to act as a pension for both of his parents and the eight-time Olympic gold medal-winning sprinter, said to have earned $33 million from prize money, sponsorships, and appearance fees in 2016 alone.

“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,” Bolt’s attorneys wrote in his letter.

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There were other reports that quoting the company that similar fraudulent incidences had happened in the company earlier this month, resulting in several clients missing millions of dollars.

“We understand that clients are anxious to receive more information and assure you that we are closely monitoring the matter throughout all the required steps and will alert our clients of the resolution as soon as that information is available,” the company said, as told by CBS.

Nigel Clarke, Jamaica’s finance minister, was reported in the Guardian as saying: “It is tempting to doubt our financial institutions, but I would ask that we don’t paint an entire hard-working industry with the brush of a few very dishonest individuals,” Clarke said.

The question still remains: who defrauded Usain Bolt of $12.7m in Jamaica?