Usain Bolt, a Jamaican sprinter, renowned as the fastest man in the world recently told reporters that he is perplexed by the disappearance of $12.7 million of his funds from a local private investment business that the police are looking into as part of a major scam that started more than ten years ago.
Additionally, Bolt said that he had sacked his business manager and added that the breakup was not pleasant.
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The legendary athlete smiled when he was asked if he was “broke.”
“I’m not broke, but it’s definitely put a damper on me,” he declared. “It was for my future. Everybody knows I have three kids. I’m still looking out for my parents, and I still want to live very well.”
According to Bolt’s attorneys, his account with Kingston-based Stocks and Securities Limited dropped from around $12.8 million to just under $12,000. The corporation had been given until Friday to repay the funds, failing which they would take legal and criminal action.
As of late Friday, it was unclear whether any action had been taken. After being contacted for comment, lawyer Linton P. Gordon did not respond.
He advised the people to prepare for both the “expected and the unexpected” in the case, according to the Jamaica Observer newspaper.
He was cited as adding, “There is nothing to say at this stage, given what is happening.” He noted, “we have met with persons, and we are dealing with certain matters.”
The Bank of Jamaica will now be in charge of overseeing the island’s financial industry, Jamaican Finance Minister Nigel Clarke revealed earlier this week. The Financial Services Commission’s director is resigning.
He said that in addition to several government organizations, the suspected scam also impacted senior citizens.
“It’s always a sad situation. Definitely disappointed,” Bolt added in reference to the elderly individuals impacted. “Everybody’s confused. … I’m as confused as the public.”
The FBI and other unnamed foreign specialists have been asked for assistance by Jamaican officials, who have also claimed that consumers were provided incorrect information about their balances as part of the suspected scam. Officials have not yet disclosed the exact number of clients impacted or the amount of money lost.
On Friday morning, Bolt discussed the potential fraud during a speech at a luncheon hosted by a forthcoming relay.
“As you all know. I’ve been going through a tough week, a few tough weeks,” he admitted, vowing to keep doing all in his power to improve his island.
“No matter what’s going on right now, Jamaica is my country. That will never change,” he emphasized.
“I’m just trying to focus on my family and trying not to think too much about it because it’s a difficult situation,” he remarked in a side conversation with reporters.
A message seeking a response sent on Friday but was not answered by Stocks and Securities Limited. Earlier this month, the firm notified the police that management appeared to have engaged in fraud.
Jamaican Prime Minister Andrew Holness declared earlier this week that his government will not save the business.
He said, “The government will not socialize any debt, and we will not socialize the failure of our banks.”
