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Usain Bolt’s lawyers give SSL 10 days to return missing millions

Editorial Staff

Jan 18, 2023

The company holding investments for the eight-time Olympic champion Usain Bolt has been given ten days to return his missing funds or run the risk of facing criminal and civil action.

Bolt’s lawyers made their intention known in a letter to Stocks and Securities Limited (SSL). The company is in the face of the massive reported fraud that is currently unfolding at the investment firm.

According to reports, Bolt had invested significant sums, reportedly towards his “self-designed pension”.

Bolts law firm of Frater, Binns and Gordon told SSL in a letter that his account contained in excess of US$12 million as of October 31, 2022m but according to the letter, the account currently contains US$12,000 (J$1.8 million).

His attorneys are demanding payment of US$12,758,181.74 within 10 days.

Bolt is not the only one in the predicament.  About 20 people have had their accounts depleted in the reported fraudulent activities now being probed at SSL.

Meanwhile, the Financial Investigations Division (FID) said the length of time during which questionable actions ”were taken against some of the affected accounts in the SSL probe was over a decade”

Last week, reports from Jamaica indicated that Bolt lost millions that he invested with the firm.

Following the news, the SSL management has said that they have taken steps to secure assets in its control and strengthened internal protocols to detect suspicious activity in the shortest time possible.

Furthermore, the bank said that “it became aware of fraudulent activity by a former employee of the company and, following initial internal investigations, the management referred the matter to the relevant law enforcement authorities to facilitate a thorough and complete examination of all its aspects”.

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