Investigation opened after ex-Olympic champion spots ‘discrepancies’ in investments

Usain Bolt won eight Olympic gold medals before retiring in 2017
Asia 728x90

A company which looks after Usain Bolt’s investments is under investigation after reports he may have lost millions of dollars to fraud.

Jamaica’s Financial Services Commission (FSC) has placed the firm, Stocks and Securities Limited (SSL), in “enhanced oversight” following the allegations.

The 36-year-old retired sprinter had investments with SSL for over a decade.

Bolt’s manager Nugent Walker told the Jamaica Gleaner the eight-time Olympic champion had noticed “discrepancies”.

The Gleaner report alleged millions of dollars were missing from the account.

The FSC said it was “aware of reports of allegations of fraud” and that the oversight process would allow it to see the movement of funds and securities into and out of SSL.

“The FSC will simultaneously continue its investigations into matters related to SSL,” it added.

SSL said its own internal investigations suggest a former employee was behind the alleged fraud and added it had “referred the matter to the relevant law enforcement authorities”.

Bolt retired from athletics in 2017 after winning 11 World Championship gold medals and eight Olympic gold medals.

During the 2008 Beijing Olympics Bolt set new world records for the 100m and 200m sprint.

His 100m time of 9.572 seconds remains the world record.

Source: BBC