$12.7 Million Has Gone Missing From Usain Bolt's Financial Account

TaxBuzz

Usain Bolt's attorneys have shared that the athlete is missing $12.7 million from a financial account in Jamaica.

The account is held with a private investment firm called Stocks & Securities Limited.

According to a CBS News report about the situation, lawyer Linton P. Gordon provided The Associated Press with a copy of a letter sent to the company demanding that the funds be returned.

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Photo byStuart C. Wilson/Getty Images

Gordon said Bolt's account once had $12.8 million but now has a balance of just $12,000.

In the aforementioned letter, Bolt's legal team stated, "If this is correct, and we are hoping it is not, then a serious act of fraud larceny or a combination of both have been committed against our client."

Per the demand, the money must be re-deposited into the account within 10 days if Stocks & Securities Limited wishes to avoid civil and criminal legal action.

CBS reached out to the investment firm for comment but did not receive a response.

Amid the investigation, however, SSL has posted the following urgent notice on its official website:

Thank you for your Interest in Stocks and Securities Ltd. ( SSL). Further to our press release on January 12, 2023, please note the company is currently under the direction of the Financial Services Commission (FSC) and so responses from SSL may be delayed at this time. We understand that clients are anxious to receive more information and assure you that we are closely monitoring the matter throughout all the required steps and will alert our clients of the resolution as soon as that information is available. Do contact the Financial Services Commission with urgent queries. Thank you for your patience and kind understanding.

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Photo byAlex Pantling/Getty Images

For those unfamiliar with Bolt's athletic career, he the current world record holder in the 100 meter, 200 meter, and 4 × 100 meter relay. An eight-time Olympic gold medallist, Bolt is the only sprinter to win Olympic 100 meter and 200 meter titles at three consecutive Summer Games -- 2008, 2012, and 2016.

He was also the recipient of two 4 × 100 meter relay gold medals.

What do you think about Bolt's missing money?

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# Usain Bolt# sports# wealth# finance# Jamaica

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