Usain Bolt scam: millions of dollars disappeared from his account
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NEW YORK – The millions of dollars earned thanks to the speed of a super athlete, have lived up to their owner, Usain Bolt, because they took off at the speed of a sprinter. An investigation has been opened after millions of dollars disappeared from the bank account of the Jamaican legend, the world record holder of the hundred, two hundred floors and the 4×100 relay, winner of eight gold medals at the Olympics and eleven world championships and the only one to win the medal gold in the 100m and 200m in three consecutive editions of the Olympic Games, Beijing 2008, London 2012 and Rio de Janeiro 2016. But this time “Bolt”, the lightning, at 36, has found someone faster than him. His manager, Nugent Walker, told the story to The Gleaner, a Jamaican media outlet.
The former champion had noticed some discrepancies between the money in the account and those invested in SSL, the Stocks and Securities Limited, an investment company that manages the assets of wealthy clients. Walker did not want to indicate how much money is missing, but recalled the long relationship with the company: “Usain has been with them for ten years, now the entire portfolio has been sifted through.” There is a suspect: he is an employee of the SSL who, according to the Jamaican head, is implicated in this so-called “enormous” fraud case. The employee’s lawyer stated that his client “has been negotiating for two weeks with the company’s lawyers”, but it is not currently known under what terms and whether he is collaborating.
The Jamaica Financial Services Commission is dealing with the Bolt scam. The government authority asked Stocks and Securities Limited to provide clarifications regarding the transactions conducted, the movement of funds and the security measures undertaken in the management of the assets of their clients, not just Bolt. There could be many people scammed. The former sprinter retired from athletics in 2017 and from all sports two years later after a brief stint in football. Bolt had announced that he would focus on his finance business, which includes electric razor company Champions Shave, electric scooter manufacturing company Bolt Mobility and restaurant chain Tracks & Records. According to Forbes, up to 2018 Bolt earned an average of thirty-one million dollars a year, thanks also to big sponsorships such as Puma. Last year he was credited with a personal net worth of ninety million.
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