Usain Bolt Loses Around Rs 100 Crore of Savings in Massive Financial Fraud
Bolt, who had retired in 2017, had kept his money as part of his lifetime savings, which he had kept with a Kingston-based investment firm. After the massive amount of money went missing, Bolt is reportedly left with $12,000 (around Rs 10 lakh) in his bank account.
In a shocking development, sprint legend Usain Bolt has reportedly lost a whopping sum of $12 million (Rs 100 crore) from his account that he had with Stocks and Securities Ltd (SSL), an investment firm based in Kingston. The track and field great now has only $12,000 (around Rs 10 lakh) left in his account. According to a report, Bolt had this money as part of his retirement and lifetime savings. ICC Falls Victim to Cybercrime, Loses Around Rs 20 Crore in Online Money Fraud; Investigation Underway.
This case of such a huge sum of money missing from his account is certainly a worrying piece of news and Bolt, along with his lawyers, are reportedly set to sue the firm if the money is not returned. Linton P. Gordon, Bolt's lawyer, as quoted by Fortune.com, said, “It’s distressful news for anyone...And certainly in the case of Mr. Bolt, who established this account as part of his private pension.” Dani Alves, Brazil Footballer, Arrested in Spain for Alleged Sexual Assault.
In a statement earlier this month, SSL stated that it had taken steps to tighten protocols after there was fraudulent activity by a former employee. The Kingston-based firm has taken up this matter with law enforcement. A report also claims that Jamaica's Financial Services Commission put a temporary manager in the SSL after allegations of fraud emerged in the bank. An eight-day notice has reportedly been served to the firm for the money to be returned, after which Bolt and his lawyers will likely take this matter up to the Kingston Supreme Court. The Olympic legend had retired in 2017 after a glittering career in sprinting.
(The above story first appeared on LatestLY on Jan 20, 2023 11:46 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).