Usain Bolt BROKE? Olympic Champion Usain Bolt who is known as the world’s fastest man was horrified to find $12 million had gone from an account he held with Kingston-based investment company Stocks and Securities. Only roughly $12,000, according to Bolt’s attorney Linton P. Gordon, was still in the account. Bolt’s retirement and life savings were included in the account. Follow InsideSport.IN for LIVE updates about Usain Bolt
“Anyone would be distressed by this news,” Gordon said on Wednesday. “This is especially true in the case of Mr. Bolt, who set up this account as part of his private pension.”
Usain Bolt BROKE? Bolt loses his entire $12 million retirement fund, says left with just 12,000, CHECK HOW?
The Financial Services Commission of Jamaica made the announcement on Tuesday that it had appointed its own temporary manager at SSL in response to accusations of fraud allegations that had earlier led the commission to tighten its inspection of the bank.
WHAT Actually Happened?
Investigations into the Jamaican private investment corporation are ongoing, and the handling of the matter by the government has drawn criticism. One high official was forced to quit as a result of one of the biggest fraud scandals to ever affect the Caribbean island.
According to a report by the Associated Press, Everton McFarlane, who until recently served as the executive director of Jamaica’s Financial Services Commission, went on leave on Friday and will resign on January 31.
Earned..Not Given. pic.twitter.com/74qgiHyCaL
— Usain St. Leo Bolt (@usainbolt) January 21, 2023
As the inquiry into Stocks and Securities Limited, a company situated in the capital of Kingston, continues, a senior official of the Bank of Jamaica will take his position.
Stocks & Securities Limited informed the authorities in a letter dated January 10 that a manager had allegedly engaged in fraud, which sparked the investigation. Days later, Bolt’s attorneys claimed that his account balance had decreased from approximately $12.8 million to about $12,000.
According to a preliminary inquiry, a number of senior clients have also been cheated, according to Finance Minister Nigel Clarke. He stated that the government would seek complete forfeiture of any products found to have been purchased with money from the alleged fraud and that investigators are working to identify any such purchases.
After the commission on January 12 prohibited the company from carrying out any transactions without its consent, the company’s day-to-day activities have been managed by a temporary manager.
Bolt’s attorneys have said they will take civil and criminal action if his money is not returned by the end of next week.
WHO IS USAIN BOLT?
Bolt, who is now 36 years old and has been retired for over seven years, continues to be active by making yearly appearances at the Soccer Aid celebrity charity game for UNICEF.
His financial potential is still significant considering that he earned $33 million from prizes, appearance fees, and sponsorship in 2016 alone. He once secured the biggest track and field sponsorship contract with Puma.
The final 12 months of Bolt’s final competitive year on the track saw him earn $31 million (£25.3 million), ranking him as the 45th-richest athlete in the world according to Forbes Magazine.
Bolt made a name for himself as one of the greatest athletes in history, regardless of the sport.
From Beijing 2008 to Rio 2016, he accomplished the unique accomplishment of capturing three straight Olympic gold medals in the men’s 100 and 200-meter races.
After victories in the men’s 4x100m relay at London 2012 and Rio 2016, he was denied a hat-trick of gold medals since Jamaica had their Beijing 2008 victory stripped away owing to Nesta Carter’s failing doping test.
“In a World of Lies….Where is the Truth?
The History Evil….What is the Root?…MONEY #CrypticWorld pic.twitter.com/h8BOHp51Cr— Usain St. Leo Bolt (@usainbolt) January 16, 2023
Bolt has released several cryptic social media messages but has not publicly addressed the scandal.
Usain Bolt BROKE? Bolt loses his entire $12 million retirement fund, says left with just 12,000, CHECK HOW?
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