Usain Bolt’s attorneys have disclosed that more than $12.7 million is missing from his account with a Jamaican private investment company that the police are investigating.
The Associated Press obtained a copy of a letter issued to Stocks & Securities Limited requesting the money’s return from attorney Linton P. Gordon.
Gordon claimed that Bolt’s account formerly showed a balance of $12.8 million but now only shows a balance of $12,000.
Bolt’s lawyers write in the letter, “If this is correct, which we hope it is not, then a severe crime of fraud, larceny, or a combination of both have been done against our client.”
A query for comments was not immediately answered by Stocks & Securities Limited. The business requested that clients submit any urgent inquiries to the Jamaican Financial Services Commission, which is looking into the firm, on its website.
The firm stated, “We recognize that clients are eager to learn more, and we promise you that we are actively monitoring the problem throughout all the necessary stages and will advise our clients of the resolution as soon as that information is available.”
The institution has stated that several of its clients may be missing millions of dollars and that it detected the theft earlier this month.
Nigel Clarke, the finance minister for Jamaica, described the situation as alarming but added that it was exceptional.
Although it is tempting to cast doubt on our financial institutions, he urged against doing so because of a small number of extremely dishonest people.
On Monday, the same day Jamaica’s Financial Services Commission said it was hiring a special auditor to look into fraud claims at Stocks & Securities Limited, a company with its headquarters in Kingston, Bolt’s attorneys sent the letter.
Financial regulators said on Tuesday that they would take over temporary operation of the private investment company.
Although it is permitted to continue operating, any transactions require government authorization.
Bolt, who retired in 2017, holds the 100-meter, 200-meter, and 4×100-meter world records.
Celebrity Net Worth estimates that he has a net worth of $90 million.
According to Sportskeeda, the six-foot-four sprinter was estimated to make over $31 million annually during the height of his career in 2015 and 2016.
Bolt, who is the PUMA brand ambassador, received almost $10 million in compensation every year when he was competing.
The sportswear company continues to compensate the 36-year-old for wearing its garments even though he retired five years ago; they pay him roughly $4 million annually.
