Everything you need to know about the financial scam that made Usain Bolt lose $12 million!

Jamaica’s proud Olympic sprinting icon, Usain Bolt is not experiencing a very lucky phase of his life right now. Usain Bolt has lost a total of $12 million dollars he secured in his account with Stocks and Securities Ltd. due to a financial scam.

The scam

Lawyers for Jamaica’s Olympic sprinting icon say that a total of $12 million are missing from Usain Bolt’s account. The account was operational with a Jamaican investment firm. The lawyer also expressed that if need be, the case will be taken to the court. 

As per reports, only $12,000 are currently present in Usain Bolt’s account.

Usain Bolt’s lawyer, Linton P. Gordon revealed some important facts regarding the account. "The account was part of Bolt's retirement and lifetime savings," the lawyer expressed.

“It’s distressing news for anyone, and certainly in the case of Mr. Bolt, who established this account as part of his private pension,” said the lawyer.

Moreover, he made clear his intentions to move to the court with the matter if need be, saying, "We will be going to court with the matter".

The funds were definitely very crucial for Usain Bolt. stressing over the importance of the lost money, Gordon said, “It’s is a grave disappointment, and we are hoping that the matter will be resolved in a way that Mr. Bolt will recover his money and be able to live in peace."

What does Stocks and Securities Ltd (SSL) have to say?

In a statement made on January 12, Stocks and Securities Ltd (SSL), a Kingston-based firm, stated that the firm got to know about the fraudulent activity through a former employee. It also states that it has now referred the case to law enforcement. Moreover, the firm also made it clear that it had taken some vital steps to strengthen the protocols and safeguard the assets.