Business

Usain Bolt Loses $10 Million Fortune After Fraud Rocks Jamaican Securities Firm; Lawyers Threaten Legal Action

Usain Bolt's lawyers have given Stocks & Securities Ltd (SSL) ten days to reimburse the retired Olympian the money that was siphoned from the account he held with the company. Last week, according to reporting in the local press, a former employee already under investigation for a separate, unrelated matter called Bolt's management herself, to inform them that the money had been taken. Not only did she reportedly completely drain the star athlete's funds — over USD$10 million that had been deposited since Mr. Bolt opened the account in 2012 — but the yet-unnamed perpetrator defrauded as many as 20 other clients whose accounts she managed. Now, attorneys for Mr. Bolt are demanding SSL return the embezzled funds or face legal action. Jamaican journalist Abka Fitz-Henley posted the letter from the law firm of Frater, Ennis & Gordon, which claims that at the end of October 2022, the balance on their client's account was almost thirteen million US dollars, but were "frighteningly instruct...