Usain Bolt missing millions from investment fraud scheme

The world’s fastest man, Usain Bolt, has run into some financial issues in Jamaica after his manager reported the sprinter is missing millions of dollars from an investment account with Jamaican firm Stocks and Securities Limited (SSL).The eight-time Olympic champion’s manager told Jamaican newspaper The Gleaner that Bolt had noticed discrepancies with his accounts on Jan. 11 and has since launched an investigation with Jamaica’s Financial Investigations Division and Financial Services Commission.

Bolt has reportedly been a client of the investment firm for 10 years, but the firm has no idea where the money went; they suspect fraud.

“His entire portfolio is being reviewed,” said his manager Nugent Walker to the newspaper. Walker did not specify the exact amount of money missing from Bolt’s account, but claimed it is in the millions.

However, The Gleaner reported that a former SSL employee has been involved in a widespread fraud scheme, which may relate to the same developments in Bolt’s case.

Representatives for Bolt and SSL did not respond to requests for a comment on this story.Bolt is one of the highest-earning track and field athletes of all time, earning a reported 33 million dollars in 2016 alone. In 2018, Bolt was listed as the 45th highest-paid athlete in the world, according to Forbes.

Bolt set the 100m and 200m world records at the 2009 World Championships in Berlin, where he won double gold. He is the only sprinter to have won three consecutive Olympic gold medals in the men’s 100 metres and 200m, from Beijing 2008 to Rio 2016.

Since 2017, Bolt, 36, has stepped away from athletics, besides racing one unofficial 800m for an insurance advertisement.

posted Saturday January 14th
by Running Magazine