Someone got some explaining to do and they better do it quickly as Usain Bolt is threatening to sue over his missing money!
Lawyers for the eight-time Olympic gold medalist say more than $12.8 million has vanished from the athlete’s bank account with a Jamaican investment firm that is now under investigation.
So when did he realize it was missing? His lawyers say while claiming a check on his balance earlier this month, it was revealed he had been left with barely $12,000 after what they described as a potential act of fraud.
The retired Jamaican sprinters have given the firm a 10-day deadline to return the money.
It was also noted that Bolt, who retired from athletics in 2017, has made no withdrawals or transfers from the account. Linton P Gordon, a lawyer for Bolt, said: “The account was part of Bolt’s retirement and lifetime savings.” He added,
“It’s distressing news for anyone, and certainly in the case of Mr. Bolt, who established this account as part of his private pension. “If this is correct, and we are hoping it is not, then a serious act of fraud larceny or a combination of both has been committed against our client.”
To make matters worse, it is claimed that a number of clients for Stocks & Securities Limited have reported missing funds. Jamaica’s Financial Services Commission is investigating, per the firm.
In a press conference earlier this week, Everton McFarlane, executive director at the FSC, told reporters that the fraud was allegedly committed by a client relationship manager at SSL.
“To the knowledge of the FSC, this level of fraud has never happened before,” said McFarlane. Employee theft is a risk all businesses face and is a risk that businesses for the most part, and in particular financial institutions, take very seriously … This despicable act of dishonesty by an employee at SSL, and possibly with collaborators, we believe cannot be taken as symptomatic of the risk for the entire industry,” CNN notes.
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