Usain Bolt Lost $12.8 Million to Scam

[BMR Genie]

This is really sad. All his hard work just to lose it all.

"(CNN) - Lawyers for eight-time Olympic gold medalist Usain Bolt say more than $12.8 million is missing from his account with a Jamaican investment firm now under police and government investigation.

Jamaican law enforcement received complaints about alleged fraud at wealth management firm Stocks & Securities Ltd (SSL) on January 11, affecting accounts belonging to Bolt and others, Selvin Hay, Chief Technical Director of Jamaica’s Financial Investigations Division, told CNN.


Hay added that an investigation, currently in its early stages, is now being conducted by the Jamaica Constabulary Force’s Fraud Squad and the Financial Investigations Division.

A letter from Bolt’s lawyer, Linton Gordon, to SSL, which has been shared with CNN, says the former sprinter is looking to recover $12.8 million after the balance of his SSL account was “mysteriously” depleted to just over $12,000.

Bolt, who retired from athletics in 2017, has made no withdrawals or transfers from the account, according to Gordon, and would consider legal action if the funds are not recovered.

Bolt’s agent, Ricky Simms, confirmed to CNN that an investigation into alleged fraudulent activity at SSL was underway, but added that he could not confirm how much money was missing from Bolt’s account."

 

[carolinakid]

yes very sad

 

[BMR Genie]

I just hope it won't happen to anyone. Even to the one who reacted to this thread with laughing emojis lol

 

[Wagerallsports]

Wonder what he is worth without that

Should still have millions

 

[BMR Genie]

Wonder what he is worth without that

Should still have millions

True, I think his total net worth is more than 12M, so he will be fine I guess.

but the real question is, are there any success stories of money being returned from scam victims?

 

[Tanko]

That is crazy stuff. I hope he gets his money back. I know its unlikely but damn.

When you hear about stuff like this in US, where a rouge broker for a large company steals client's money, the client is usually covered by the parent company of the broker. I'm wondering if this Jamaican broker was stand alone without a parent company to protect clients from stuff like this.

 

[BMR Genie]

That is crazy stuff. I hope he gets his money back. I know its unlikely but damn.

When you hear about stuff like this in US, where a rouge broker for a large company steals client's money, the client is usually covered by the parent company of the broker. I'm wondering if this Jamaican broker was stand alone without a parent company to protect clients from stuff like this.

This is a great policy. It will leave all the clients at peace knowing their money is safe.