Usain Bolt’s attorneys claim that more than $12.7 million disappeared from their client’s account at a Jamaican investment firm prompting a government and police probe. Bolt has won eight Olympic gold medals.
According to Selvin Hay Chief Technical Director of Jamaica’s Financial Investigations Division law enforcement was made aware of the suspected theft at Stocks & Securities Ltd (SSL) on January 11, affecting accounts belonging to Bolt and others.
Hay further noted that the Fraud Squad and the Financial Investigations Division of the Jamaica Constabulary Force are currently conducting an investigation, which is still in its infancy.
Bolt’s attorney Linton Gordon told on Tuesday that his client is seeking to recover $12.7 million after the balance of his SSL account “inexplicably decreased” to only $12,000.
Gordon Stated Bolt May Sue if the Money is not Recovered
In an interview with CNN Ricky Simms Bolt’s agent stated that an investigation into potential fraudulent activity at SSL was underway but said that he was unable to identify the exact amount of money missing from Bolt’s account.
The Financial Services Commission (FSC) of Jamaica said on Tuesday that it had taken temporary control of SSL. On Wednesday Everton McFarlane, executive director of the FSC told reporters that an SSL client relationship manager was suspected of committing the scam.
“To the knowledge of the FSC, this level of fraud has never happened before,” said McFarlane.
“Employee theft is a risk all businesses face and is a risk that businesses for the most part, and in particular financial institutions, take very seriously … This despicable act of dishonesty by an employee at SSL, and possibly with collaborators, we believe cannot be taken as symptomatic of the risk for the entire industry.”
Reuters reports that on January 12, SSL published a statement saying the company had learned of fraudulent behavior by a former employee and had reported it to the appropriate authorities.
After winning gold at the Olympics in Beijing (2008), London (2012) and Rio (2016), Bolt’s name was recognized around the world. At the 2009 world championships in Berlin, he set the records for the 100 and 200 meters and he still owns those records today (9.58 seconds and 19.19 seconds).
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