Government case in Jamaica: almost 12 million euros were stolen from the legend Usain Bolt

Usain Bolt has been overtaken… in the business arena. The absolute legend and true flag bearer of Jamaica, the eight-time Olympic champion lost a small fortune, 11.8 million euros, according to his lawyer, entrusting it to the investment company Stocks and Securities Limited (SSL). A shock for a whole country trying to come to the aid of its legend on the brink of death.

“The suffering of every individual should be equally acknowledged, but there is a greater sense of betrayal that the national icon that has given us all so much pride is also the victim of this alleged fraud,” said Andrew Holness, Jamaican Prime Minister. , to questions about this scam.

After discovering that his funds were missing, Bolt sent a letter through his manager to the relevant company demanding a full refund of his funds by January 26th, after which the world’s fastest man promises to sue SSL. In addition to the world record holder in the 100m, this massive fraud would also have affected about thirty investors, totaling more than 1 billion euros.

Alarmed by the situation with the eight-time Olympic medalist, the Jamaican authorities launched an investigation to identify all those responsible. “Investigators have the necessary authority and resources to achieve this. They have already begun to act to collect information and evidence, the prime minister explained. Every effort will be made to uncover the extent of fraudulent activity and bring those responsible to justice. »

Government promises ‘full transparency’

Nigel Clark, the Treasury Secretary, assured that there would be “full transparency” and that anyone involved in the alleged fraud would be prosecuted. Faced with this scandal, which is becoming a matter of state, the government wanted to reassure the Jamaicans by ensuring “the soundness of the financial system as a whole.”

The case flared up in mid-January when the Jamaica Financial Services Commission (FSC) said it had placed Stocks and Securities Limited (SSL) under “heightened surveillance” pending investigation. Nugent Walker, Usain Bolt’s manager, then told Jamaican Gleaner media that the retired Jamaican sprinter had invested in the company about a decade ago, elaborating that the eight-time Olympique gold medalist noticed anomalies in his account.

The FSC then stated that it was aware of “fraud allegations” regarding SSL. The statement said the company has given “instructions” that allow for the implementation of a “strengthened monitoring process.” This procedure allows FSC to track completed transactions, including the movement of funds and securities into and out of SSL. The FSC added that they would continue the “investigation” of the company in parallel.

Usain Bolt retired in 2017 after a decade of undisputed dominance in the men’s sprint. During his career, he has won eight Olympic gold medals. The former sprint king still holds the world records for 100m (9’58) and 200m (19’19).