Jamaican Olympic sprinter Usain Bolt was shocked to discover $12 million missing from an account he had with Kingston-based investment firm Stocks and Securities, according to his lawyer.
Bolt was recently told there was only about $12,000 remaining in the account, his lawyer Linton P. Gordon said in a phone interview. The account was part of Bolt’s retirement and lifetime savings.
“It’s distressful news for anyone,” Gordon said on Wednesday. And certainly in the case of Mr. Bolt, who established this account as part of his private pension.”
Jamaica’s Financial Services Commission on Tuesday said it had installed its own temporary manager at SSL, following reports of allegations of fraud that had earlier prompted the commission to put the bank under enhanced oversight.
SSL did not respond immediately to calls and emails requesting comment.
Gordon said regulators have not communicated with him or his client. If Bolt does not see the money returned within eight days, Gordon said he plans to take the case to the Supreme Court in Kingston.
Bolt, an eight-time Olympic gold medal winner, is considered the world’s fastest man, holding world records in the 100-meter and 200-meter races. On Monday, Bolt quoted lyrics on his Twitter account that, in part, read: “The History of Evil…What is the Root?…MONEY.”
Learn how to navigate and strengthen trust in your business with The Trust Factor, a weekly newsletter examining what leaders need to succeed. Sign up here.