JAMAICA LAUNCHES FRAUD PROBE AS MILLIONS IN BOLT’S ACCOUNT FEARED MISSING

After reports that eight-time Olympic gold medalist Usain Bolt may have lost millions due to large-scale fraud, Jamaican financial authorities have launched an investigation into a company holding investments for him.

Jamaica’s Financial Services Commission (FSC) said in a statement that it has placed Stocks and Securities Limited (SSL) under “enhanced oversight” while the investigation is ongoing.

Nugent Walker, Bolt’s manager, told the Jamaica Gleaner newspaper that the retired sprinter, considered one of the greatest athletes of all time, has had investments with the company for over a decade.

“All relevant steps have been taken to get to the bottom of this,” Walker told the paper, adding that the athlete discovered inconsistencies in his account on Wednesday.

“He’s been with this entity for over a decade… “We’re going over his entire portfolio,” he added.

Millions of dollars were reported missing from Bolt’s account, according to the newspaper. Walker did not immediately respond to requests for comment.

SSL did not return phone calls or emails on Friday.

The Financial Services Commission (FSC) stated that it was “aware of reports of allegations of fraud at one of its licensees, Stocks and Securities Limited (SSL).”

“The FSC has issued SSL Directions. These Directions, which were sent to the company on Thursday, January 12, 2023, are a supervisory tool that allows the FSC to “engage an entity in a process of enhanced oversight,” according to the body’s statement.

According to the FSC, the oversight process will provide them with a “complete view of the integrity of the transactions being conducted, including the movement of funds and securities into and out of SSL.”

“The FSC will concurrently continue its investigations into SSL-related matters,” they added.

Bolt retired from athletics in 2017 after a stellar career that included eight Olympic gold medals as well as 11 World Championship gold medals.

Bolt rose to prominence after winning the 100m and 200m sprints at the 2008 Beijing Olympics, setting new world records in both events.

The Jamaican went on to win both races at the 2012 London Olympics and the 2016 Rio Olympics.

Bolt’s 100m time of 9.572, set in Berlin in 2009, still stands as the world record, and he also holds the fastest 200m time.