Usain Bolt has painfully lost his retirement savings worth over 12 million dollars.
The athlete found that his account with Kingston-based investment company Stocks and Securities had most of his money gone.
According to reports, Bolt demanded a meeting with the company in December after reviewing his financial holdings annually and noticing the mismatch.
According to Usain Bolt’s attorney Linton P. Gordon, the account has $2,000 (Sh248,100) out of US$10 million (Sh1,240,500,000)left in Usain Bolt’s Stocks and Securities Limited account.
It’s distressful news for anyone.”
“And certainly in the case of Mr. Bolt, who established this account as part of his private pension.” Gordon says.
According to Gordon, he and his client have not been in contact with regulators. Gordon stated that he intends to take the matter to Kingston’s Supreme Court if Bolt does not receive the money back within eight days.
Tuesday saw the announcement by Jamaica’s Financial Services Commission that it had appointed its own temporary manager at SSL in response to concerns of alleged fraud, which had earlier led the commission to increase supervision of the bank.
Up until last Wednesday, the employee suspected of being involved remained employed by the business.
The employee apparently “admitted,” according to the Jamaican newspaper, to other things about which he was being examined before Bolt’s issue came up.
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