The eight-time Olympic gold winner Usain Bolt’s investments are being investigated by the Jamaican financial authorities after it was claimed that he may have lost millions to widespread fraud.
Stocks and Securities Limited (SSL), according to a statement from Jamaica’s Financial Services Commission (FSC), is under “increased control” while an investigation is being conducted.
The former sprinter, one of the greatest athletes of all time, has investments with the company, according to Bolt’s manager Nugent Walker, who spoke to the Jamaica Gleaner newspaper.
Walker told the newspaper that “all the necessary efforts have been done to get to the bottom of this,” adding that the athlete had discovered inconsistencies.
He’s been with this entity over 10 years… His entire portfolio is being reviewed,” he added.
The newspaper said millions of dollars were reported missing from Bolt’s account. Walker was not immediately available for comment.
SSL did not respond to calls made to their office on Friday.
The FSC said it was “aware of reports of allegations of fraud at one of its licensees, Stocks and Securities Limited (SSL).”
“The FSC has issued Directions to SSL. These Directions which were dispatched to the company on Thursday January 12, 2023 are a supervisory tool to allow the FSC to engage an entity in a process of enhanced oversight,” the body said in their statement.
The FSC said the oversight process would allow them to have a “full view of the integrity of the transactions being conducted, including the movement of funds, and of securities into and out of SSL.”
“The FSC will simultaneously continue its investigations into matters related to SSL,” they added.
Bolt retired from athletics in 2017 after a stellar career which in addition to eight Olympic golds included 11 World Championship gold medals.
Bolt sprung to global fame at the Beijing Olympics in 2008 when he won the 100m and 200m sprints, setting new world records in both races.
The Jamaican went on to win both races in the 2012 London and 2016 Rio Games.
Bolt’s 100m time of 9.572, set in Berlin in 2009, remains the world record and he also retains the fastest time in 200m.
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