103 Cr Gone! Star Athlete Loses In Financial Fraud!

World’s fastest sprinter Usain Bolt has become the victim in an online fraud. The world champion has lost a staggering 12 Million USD (103 Crore in Indian currency) in a financial scam. Going into details, Bolt is claimed to have lost millions of dollars he had in his private investment account with Kingston-based investment firm Stocks and Securities Ltd. It is alleged that serious financial fraud led to the wiping of his wealth of 12 million usd. 

After the alleged fraud, Bolt’s investment account is currently having just 12,000 USD whereas originally it had 12.8 million USD. As per Bolt’s lawyer Linton P Gordon, the money was intended to serve as a pension for Bolt and his parents. Lawyers of Bolt warned that they would initiate a civil and criminal action if the ‘missing’ money is not returned in the next 10 days.

Jamaica’s Financial Service Commission is currently investigating the Stocks and Securities Ltd where the alleged fraud took place. On the other hand, Stocks and Securities Ltd (SSL) on January 12 issued a statement that it had become aware of fraudulent activity by a former employee and has referred the matter to law enforcement. The company said it has taken steps to secure assets and strengthen protocols.

Usain Bolt is an eight-time Olympic gold medalist sprinter and holds several world-records. The Jamaican government has also responded over the issue and said it is serious over the matter. Finance Minister Nigel Clarke said it would bring all the “perpetrators” of the fraud to justice.