A probe into a company holding investments for eight-time Olympic gold medalist Usain Bolt is underway after reports he may have lost millions to large scale fraud.
The Jamaica Gleaner newspaper reported quotes from Bolt’s manager Nugent Walker, who confirmed the sprint legend had money with the company for over a decade.
It’s understood Bolt found discrepancies in his account this week.
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“All the relevant steps have been taken to come to the bottom of this,” Walker told the paper.
“He’s been with this entity over 10 years… His entire portfolio is being reviewed,” he added.
The newspaper said millions of dollars were reported missing from Bolt’s account.
Jamaica’s Financial Services Commission (FSC) said in a statement that it had placed the firm, Stocks and Securities Limited (SSL), in “enhanced oversight” while it conducts the investigation.
The FSC said it was “aware of reports of allegations of fraud at one of its licensees, Stocks and Securities Limited (SSL).”
“The FSC has issued Directions to SSL. These Directions which were dispatched to the company on Thursday January 12, 2023 are a supervisory tool to allow the FSC to engage an entity in a process of enhanced oversight,” the body said in their statement.
Bolt retired from athletics in 2017 after winning eight Olympic golds and 11 World Championship gold medals.
Bolt’s 100m time of 9.572, set in Berlin in 2009, remains the world record and he also retains the fastest time in 200m.
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