Usain Bolt’s lawyers say their client has been defrauded of $12.7 million from his account with a private investment firm. Linton P Gordon, a lawyer of Bolt, said on Friday the account which had $12.8m, is now left with only $12,000.
Usain Bolt’s Lawyers Say their Client Has Been Defrauded of $12.7 Million
Lawyers of eight-time Olympic gold medallist Usain Bolt say their client has been defrauded of $12.7m from his account with a private investment firm in Jamaica that authorities are investigating.
Bolt was informed last week that his account balance at Kingston-based Stocks and Securities Ltd (SSL) had inexplicably dwindled.
Linton P Gordon, a lawyer of Bolt, said on Friday the account which had $12.8m, is now left with only $12,000.
“We will be going to court with the matter” if the company does not return the funds, Gordon said.
“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,” he added.
They threaten civil and criminal action if the money is not returned within 10 days.
SSL, a private wealth management company based in the capital, Kingston, was placed under “enhanced oversight” while the Financial Services Commission (FSC) investigates the firm.
“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,” the company said.
SSL said it discovered the fraud earlier this month and that several of its clients may be missing millions of dollars.
Jamaica’s Finance Minister Nigel Clarke called the situation alarming but noted it was unusual.