Usain Bolt sacks business manager following the disappearance of $12.7 million in a huge fraud case
Usain Bolt, the Jamaican sprinter, expressed bewilderment at the vanishing of $12.7 million from a local private investment firm, which is now under investigation for a significant fraud case.
On Friday, January 27, in a statement to the press, Bolt revealed that he has terminated his business manager, emphasizing that it was not a mutual separation.
In response to a question about his financial status, the retired athlete chuckled.
“I’m not broke, but it’s definitely put a damper on me,” he stated. “It was for my future. Everybody knows I have three kids. I’m still looking out for my parents, and I still want to live very well.”
Bolt’s legal representatives have reported that the athlete’s funds with Stocks and Securities Limited in Kingston plummeted from almost $12.8 million to approximately $12,000. They had set a deadline for the company to return the money by Friday, failing which they would pursue both civil and criminal actions.
Lawyer Linton P. Gordon informed the Jamaica Observer that the public should anticipate both the “expected and the unexpected” as the case unfolds.
“There is nothing to say at this stage, given what is happening,” he was quoted as saying. “We have met with persons, and we are dealing with certain matters.”
Earlier in the week, Jamaican Finance Minister Nigel Clarke disclosed that the director of the Financial Services Commission had resigned and that the Bank of Jamaica would assume responsibility for regulating the island’s financial system.
He mentioned that several government agencies and elderly customers had also been impacted by the alleged fraud.
“It’s always a sad situation. Definitely disappointed,” Bolt commented on the elderly individuals affected. “Everybody’s confused. … I’m as confused as the public.”
Jamaican authorities have sought assistance from the FBI and other international experts, stating that clients were provided with fraudulent statements concerning their account balances as part of the purported fraud. The total number of affected clients and the overall sum of missing money have not been revealed as of yet.
During a sponsored luncheon, Bolt addressed the alleged fraud in relation to an upcoming relay event.
“As you all know, I’ve been going through a tough week, a few tough weeks,” he remarked, asserting that he would persist in uplifting his island.
“No matter what’s going on right now, Jamaica is my country. That will never change,” he affirmed.
“I’m just trying to focus on my family and trying not to think too much about it because it’s a difficult situation.”
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