Awani Review

Complete News World

Usain Bolt may have lost millions due to fraud

Jamaican authorities are investigating a company that owns money invested by sprinting legend Usain Bolt, which media reports said may have lost millions of dollars in a massive scam.

The Jamaica Financial Services Commission (FSC) said Thursday that it has placed Stocks and Securities Limited (SSL) under “intense scrutiny” pending an investigation.

Usain Bolt’s manager Nugent Walker told Jamaica Gleaner that the retired Jamaican sprinter invested money with the company about a decade ago.

“All measures have been taken to see the end of this story,” he said, adding that the eight-time Olympic gold medalist had noticed anomalies in his account on Wednesday.

“His entire portfolio (of investments, editor’s note) is scrutinized,” Mr. Walker added.

The newspaper said millions of dollars were missing.

Nugent-Walker could not be reached for comment. Contacted, the SSL company did not respond on Friday.

The FSC said it was aware of “allegations of fraud” regarding SSL.

It said in a statement that it had issued “instructions” to the company allowing it to put in place an “enhanced monitoring process”.

This procedure allows the FSC to monitor the transactions that take place, including the movement of funds and securities to and from SSL.

The Financial Services Commission added that it would continue to “investigate” the company in parallel.

Usain Bolt retired in 2017 after a decade of undisputed dominance in the men’s sprint.

During his career, he notably won eight Olympic gold medals.

The former sprint king still holds both the world records in the 100m and 200m.