Millions of dollars have reportedly disappeared from the Olympic champion’s account at a private wealth management firm.
Jamaican financial authorities have launched an investigation into a company investing in eight-time Olympic gold medalist Usain Bolt after reports he may have lost millions in a massive fraud.
Stocks & Securities Ltd, a private wealth management firm based in the capital city of Kingston, has been placed under “enhanced supervision” while the Financial Services Commission (FSC) carries out an inquiry.
Bolt’s manager, Nugent Walker, told The Gleaner that the retired sprinter had invested with the company for more than a decade.
The newspaper writes that millions of dollars have disappeared from Bolt’s account.
“All appropriate steps have been taken to address this,” Walker told the news outlet, saying the athlete noticed discrepancies with his account on Wednesday. “He’s been with this organization for over 10 years … His entire portfolio is being reviewed.”
The FSC said it was “aware of reports of fraud by one of its licensees, Stocks and Securities Limited (SSL).
Bolt retired from athletics in 2017 after a career that included 11 world championship titles in addition to eight Olympic golds.
He rose to global fame at the Beijing Olympics in 2008 when he won the 100m and 200m, setting new world records in both events.
The Jamaican won both races at the 2012 London and 2016 Rio Games.
Bolt’s 100m time of 9.57 seconds, set in Berlin in 2009, remains the world record, and he also held the fastest time in the 200m.
As a professional footballer, he made his first appearance in a pre-season friendly in Australia in 2018 when he played for the Central Coast Mariners of the Australian A-League.