The fastest man in the world now knows there is someone even faster than him... when it comes to having his money stolen. Usain Bolt's lawyers are suing an investment firm where the 100-meter dash world record holder had deposited nearly $13 million, of which only $12,000 remains. Jamaican authorities are investigating what appears to be "fraudulent activity by a former employee of the company.”
The retired athlete's lawyers have given Stocks & Securities Limited (SSL) 10 days to get the money taken from Bolt's account back or they will file a civil and criminal complaint against the company. The sprinter's managers became aware of the theft last December, after meeting with the company's representatives precisely to discuss the funds deposited there. In a letter, accessed by AP, Bolt's attorney, Linton P Gordon, warns, "if this is correct, and we are hoping it is not, then a serious act of fraud larceny or a combination of both have been committed against our client."
Bolt remains silent
The athlete has not wanted to make any statements, for the time being, and has left the whole matter in the hands of his lawyers. However, after hearing the news, he posted a cryptic message in which he asks "in a World of Lies....Where is the Truth? He also pointed out that "MONEY" is the root of "the history evil.”
“In a World of Lies….Where is the Truth?
The History Evil….What is the Root?…MONEY #CrypticWorld pic.twitter.com/h8BOHp51Cr
— Usain St. Leo Bolt (@usainbolt) January 16, 2023
"Time of war and..."
Two days later, and faced with a number of requests for interviews or statements from the media, Bolt reaffirmed his silence, stating that there is "a time to keep ....... and a time to speak; A time of war, and a time of..."
A time to keep ……. and a time to speak; A time of war, and a time of …..
— Usain St. Leo Bolt (@usainbolt) January 18, 2023
Bolt lost more than 10 years of investments
Bolt’s representative, Nugent Walker, did speak out. He explained to The Jamaica Gleaner that the sprinter invested with Stocks & Securities Ltd for his entire career, more than a decade, and that his entire portfolio is now being reviewed.
Jamaica's Financial Services Commission (FSC) announced a week ago that it is inspecting all of the firm's transactions and a few days later temporarily took over management of the company. According to
Jamaica Observer, SSL can operate, but will require government approval for any transaction.
Fraud could amount to $1.2 billion
The company issued a statement saying it had "become aware of fraudulent activity by a former employee of the company.” However, the worker held his position until last week, the same day that Bolt's advisors had arranged an appointment with management to discuss what had happened.
Sources familiar with the case say that even before Bolt's advisors alerted SSL to the disappearance of the money, the company had opened an investigation into the employee on suspicion that he was involved in stealing money from several customers. The amount could reach up to $1.2 billion.