January 19, 2023
A significant amount of money belonging to track star Usain Bolt has been wiped out after investing with Stocks & Securities Limited, a Jamaican investment firm in Kingston, St. Andrew.
Sources report that over $12 million USD went missing from his account, leaving only $12,000 USD remaining.
Lawyers for Bolt have issued a 10 day deadline to return the money otherwise litigation would be initiated against the company.
Bolt rose to fame for his record breaking speed in the 100m and 200m, winning 8 medals across three Olympic appearances and setting a world record in the 100m sprint. At the height of his career he was making $33 million USD a year including sponsorships, prize money and appearances. His list of endorsement deals include Puma, Visa, Virgin Mobile and Gatorade.
Other clients have also reported missing funds from the firm and cases are being investigated by the country's Financial Services Commission.
The incident shines a light on the ongoing problem of corruption which has been plaguing Jamaica for years.
Cover Image: Instagram, jcomp
Comments