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Has Usain Bolt Lost MILLIONS From His Accounts? Jamaica’s financial chiefs are investigating a ‘multi-million break-up’ at the former world’s fastest man’s investment company, which once raked in 27 million a year
- Usain Bolt invested millions in a Jamaican private wealth management company
- His portfolio is being reviewed after he found inconsistencies in his account
- Jamaica’s financial authorities said they were investigating the fraud allegations
The company that manages sprint legend Usain Bolt’s investments is now under investigation after he may have lost millions of dollars to fraud.
Jamaica’s financial authorities said they are investigating allegations of fraud at Stocks & Securities Ltd, a private asset management company based in the capital city of Kingston, Jamaica.
A report by Nugent Walker, director of Jamaica Gleaner Bolts, said Bolt has invested in the company for more than a decade and that his entire portfolio is being reviewed after he discovered discrepancies in his account.
The company managing sprint legend Usain Bolt’s investments is under investigation
Jamaica’s Financial Services Commission (FSC) has now placed the company under “effective supervision” following the allegations.
A Gleaner report claimed millions of dollars were missing from the account.
The FSC said it was aware of reports of alleged fraud and that a monitoring process would allow it to monitor the movement of funds and securities into and out of the mutual fund.
“At the same time, the FSC continues to investigate matters related to SSL,” it added.
SSL has said that a former employee was behind the alleged fraud, adding that it had “referred the matter to the appropriate law enforcement authorities”.
Bolt’s net worth is believed to be around 70 million after a career that has seen him widely regarded as one of the greatest athletes of all time.
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