Olypmic champion Usain Bolt loses millions in investment fraud

Usain Bolta famous Jamaican sprinter, had only $12,000 in his bank account when, in an unexpected turn of circumstances, he was confronted with the heartbreaking news of his financial loss.

boltThe 36-year-old lost millions of dollars in his account at Stocks and Securities Ltd., an investment firm located in Kingston. The Jamaican athlete has lost a staggering $12.7 million and his lawyers are preparing to go to court if necessary.

The money in the 2016 IAAF World Athlete of the Year winner’s account was earmarked to act as a pension for his parents.

“The account was part of Bolt’s retirement and life savings. It’s worrying news for anyone, and certainly in the case of Mr Bolt, who created this account as part of his private pension. We will take the matter to court if the company does not return the funds. It is a great disappointment and we hope that the matter will be resolved in a way that Mr. Bolt will get his money back and be able to live in peace,” his lawyer, Lyndon P. Gordon, told Fortune magazine.

Gordon He also provided The Associated Press with a copy of a letter sent to Stocks & Securities Limited (SSL) requesting the return of the funds.

The investment firm in question, Kingston-based Stocks and Securities Ltd (SSL), issued a statement claiming it became aware of shady activity by a former employee and resorted to law enforcement.

The Jamaica Police Force said investigative teams investigated “alleged fraudulent activities at (SSL) said to have affected the accounts of Mr. Usain Bolt among other individuals.”